Lake Street Advisors Group LLC Sells 281 Shares of NIKE, Inc. (NYSE:NKE)

Lake Street Advisors Group LLC trimmed its stake in NIKE, Inc. (NYSE:NKE) by 3.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,045 shares of the footwear maker’s stock after selling 281 shares during the period. Lake Street Advisors Group LLC’s holdings in NIKE were worth $612,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Pacer Advisors Inc. raised its position in shares of NIKE by 6,029.6% during the fourth quarter. Pacer Advisors Inc. now owns 6,821,270 shares of the footwear maker’s stock worth $516,166,000 after acquiring an additional 6,709,985 shares during the last quarter. Loomis Sayles & Co. L P increased its position in NIKE by 1,209,638.7% during the 3rd quarter. Loomis Sayles & Co. L P now owns 6,508,394 shares of the footwear maker’s stock valued at $575,342,000 after purchasing an additional 6,507,856 shares during the period. Bank of New York Mellon Corp raised its holdings in NIKE by 18.1% during the 4th quarter. Bank of New York Mellon Corp now owns 20,367,993 shares of the footwear maker’s stock worth $1,541,246,000 after purchasing an additional 3,121,929 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in shares of NIKE by 358.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 3,015,267 shares of the footwear maker’s stock worth $228,165,000 after purchasing an additional 2,357,745 shares during the period. Finally, State Street Corp boosted its stake in shares of NIKE by 3.3% in the 3rd quarter. State Street Corp now owns 57,916,789 shares of the footwear maker’s stock valued at $5,140,796,000 after purchasing an additional 1,862,021 shares during the last quarter. 64.25% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on NKE. Truist Financial lowered their target price on shares of NIKE from $97.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Guggenheim reissued a “buy” rating and issued a $110.00 price objective on shares of NIKE in a research report on Wednesday, February 12th. BMO Capital Markets upped their target price on NIKE from $92.00 to $95.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd. UBS Group reiterated a “neutral” rating and issued a $73.00 target price on shares of NIKE in a report on Thursday, December 26th. Finally, Royal Bank of Canada cut their price target on NIKE from $82.00 to $80.00 and set a “sector perform” rating on the stock in a report on Thursday, November 7th. Fourteen investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, NIKE currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.77.

NIKE Price Performance

NKE opened at $79.86 on Friday. NIKE, Inc. has a 1 year low of $68.62 and a 1 year high of $105.57. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. The company has a market capitalization of $118.13 billion, a price-to-earnings ratio of 24.65, a P/E/G ratio of 2.52 and a beta of 1.01. The firm’s fifty day moving average price is $74.59 and its two-hundred day moving average price is $78.29.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $12.11 billion. During the same period in the prior year, the firm posted $1.03 EPS. The firm’s quarterly revenue was down 7.7% compared to the same quarter last year. As a group, analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.00%. NIKE’s dividend payout ratio (DPR) is currently 49.38%.

Insiders Place Their Bets

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

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.