Lyell Wealth Management LP Has $3.72 Million Stake in NIKE, Inc. (NYSE:NKE)

Lyell Wealth Management LP cut its stake in NIKE, Inc. (NYSE:NKE) by 13.8% during the 4th quarter, HoldingsChannel.com reports. The fund owned 49,140 shares of the footwear maker’s stock after selling 7,854 shares during the period. Lyell Wealth Management LP’s holdings in NIKE were worth $3,718,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Teachers Insurance & Annuity Association of America purchased a new stake in shares of NIKE during the 3rd quarter valued at $30,000. Caitlin John LLC raised its holdings in shares of NIKE by 117.0% during the 4th quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock valued at $28,000 after buying an additional 200 shares in the last quarter. Heck Capital Advisors LLC purchased a new position in NIKE in the 4th quarter worth approximately $28,000. Roxbury Financial LLC purchased a new position in shares of NIKE during the fourth quarter valued at approximately $30,000. Finally, Dunhill Financial LLC boosted its position in shares of NIKE by 52.2% during the third quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock valued at $44,000 after purchasing an additional 169 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director John W. Rogers, Jr. purchased 2,500 shares of NIKE stock in a transaction that occurred on Friday, December 27th. The stock was acquired at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the transaction, the director now owns 34,403 shares in the company, valued at $2,636,989.95. The trade was a 7.84 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Mark G. Parker sold 169,732 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the transaction, the chairman now owns 896,632 shares in the company, valued at approximately $65,301,708.56. This trade represents a 15.92 % decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on NKE shares. Deutsche Bank Aktiengesellschaft decreased their price target on NIKE from $92.00 to $82.00 and set a “buy” rating for the company in a research note on Monday, December 16th. Stifel Nicolaus reduced their price target on NIKE from $79.00 to $75.00 and set a “hold” rating on the stock in a report on Friday, December 20th. Truist Financial dropped their target price on NIKE from $97.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. DA Davidson raised NIKE to a “strong-buy” rating in a research report on Monday, December 23rd. Finally, Wells Fargo & Company decreased their price objective on NIKE from $95.00 to $92.00 and set an “overweight” rating for the company in a report on Monday, December 16th. Fifteen analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, NIKE has a consensus rating of “Moderate Buy” and an average price target of $88.62.

NIKE Price Performance

Shares of NKE opened at $77.54 on Wednesday. NIKE, Inc. has a twelve month low of $68.62 and a twelve month high of $106.62. The stock’s 50 day moving average is $74.38 and its two-hundred day moving average is $78.07. The firm has a market capitalization of $114.70 billion, a PE ratio of 23.93, a P/E/G ratio of 2.38 and a beta of 1.01. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) 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 company had revenue of $12.35 billion during the quarter, compared to analysts’ expectations of $12.11 billion. During the same period in the previous year, the company earned $1.03 EPS. The business’s quarterly revenue was down 7.7% compared to the same quarter last year. Research analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.06%. The ex-dividend date is Monday, March 3rd. NIKE’s dividend payout ratio (DPR) is 49.38%.

NIKE Profile

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.