Hartford Investment Management Co. Has $5.57 Million Holdings in NIKE, Inc. (NYSE:NKE)

Hartford Investment Management Co. cut its holdings in shares of NIKE, Inc. (NYSE:NKE) by 2.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 73,570 shares of the footwear maker’s stock after selling 2,029 shares during the period. Hartford Investment Management Co.’s holdings in NIKE were worth $5,567,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Certuity LLC lifted its position in NIKE by 47.8% during the 4th quarter. Certuity LLC now owns 12,877 shares of the footwear maker’s stock valued at $974,000 after purchasing an additional 4,165 shares during the period. Sather Financial Group Inc lifted its position in NIKE by 6.3% during the 4th quarter. Sather Financial Group Inc now owns 469,459 shares of the footwear maker’s stock valued at $35,524,000 after purchasing an additional 27,834 shares during the period. Carnegie Lake Advisors LLC lifted its position in NIKE by 93.1% during the 4th quarter. Carnegie Lake Advisors LLC now owns 36,985 shares of the footwear maker’s stock valued at $2,799,000 after purchasing an additional 17,835 shares during the period. Essex Financial Services Inc. lifted its position in NIKE by 43.0% during the 4th quarter. Essex Financial Services Inc. now owns 6,397 shares of the footwear maker’s stock valued at $484,000 after purchasing an additional 1,925 shares during the period. Finally, Sapient Capital LLC lifted its position in NIKE by 7.0% during the 4th quarter. Sapient Capital LLC now owns 14,761 shares of the footwear maker’s stock valued at $1,123,000 after purchasing an additional 969 shares during the period. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at NIKE

In other news, Director John W. Rogers, Jr. bought 2,500 shares of the firm’s stock in a transaction that occurred on Friday, December 27th. The stock was acquired at an average cost of $76.65 per share, with a total value of $191,625.00. Following the completion of the purchase, the director now owns 34,403 shares of the company’s stock, valued at $2,636,989.95. This represents a 7.84 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 1.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

NKE has been the topic of a number of analyst reports. Royal Bank of Canada cut their price target on shares of NIKE from $82.00 to $80.00 and set a “sector perform” rating on the stock in a research report on Thursday, November 7th. Bank of America cut their price target on shares of NIKE from $95.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Deutsche Bank Aktiengesellschaft cut their price target on shares of NIKE from $92.00 to $82.00 and set a “buy” rating on the stock in a research report on Monday, December 16th. Truist Financial cut their price target on shares of NIKE from $97.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Finally, Citigroup downgraded shares of NIKE from a “buy” rating to a “neutral” rating and cut their price target for the company from $102.00 to $72.00 in a research report on Friday, February 7th. Fifteen equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $88.62.

NIKE Price Performance

Shares of NKE opened at $71.35 on Wednesday. The stock has a market capitalization of $105.53 billion, a P/E ratio of 22.02, a P/E/G ratio of 2.34 and a beta of 1.01. NIKE, Inc. has a twelve month low of $68.62 and a twelve month high of $107.43. The company has a 50 day moving average of $74.95 and a 200-day moving average of $78.09. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last released its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.15. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The business had revenue of $12.35 billion during the quarter, compared to analysts’ expectations of $12.11 billion. During the same period last year, the business earned $1.03 earnings per share. The firm’s revenue was down 7.7% on a year-over-year basis. As a group, equities research analysts forecast that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were paid a $0.40 dividend. The ex-dividend date was Monday, December 2nd. This is a boost from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a dividend yield of 2.24%. NIKE’s dividend payout ratio (DPR) is currently 49.38%.

About NIKE

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, accessories, and services worldwide. The company provides athletic and casual footwear, apparel, and accessories under the Jumpman trademark; and casual sneakers, apparel, and accessories under the Converse, Chuck Taylor, All Star, One Star, Star Chevron, and Jack Purcell trademarks.