Keybank National Association OH Trims Holdings in NIKE, Inc. (NYSE:NKE)

Keybank National Association OH trimmed its stake in NIKE, Inc. (NYSE:NKE) by 3.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 324,620 shares of the footwear maker’s stock after selling 10,923 shares during the period. Keybank National Association OH’s holdings in NIKE were worth $24,564,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Exencial Wealth Advisors LLC raised its stake in shares of NIKE by 37.2% in the 4th quarter. Exencial Wealth Advisors LLC now owns 89,874 shares of the footwear maker’s stock valued at $6,801,000 after acquiring an additional 24,361 shares during the period. Charles Schwab Investment Management Inc. increased its stake in NIKE by 7.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 9,205,753 shares of the footwear maker’s stock worth $696,599,000 after buying an additional 603,219 shares during the period. State of Michigan Retirement System increased its stake in NIKE by 1.4% during the 4th quarter. State of Michigan Retirement System now owns 408,215 shares of the footwear maker’s stock worth $30,890,000 after buying an additional 5,800 shares during the period. Global Strategic Investment Solutions LLC increased its stake in NIKE by 5.7% during the 4th quarter. Global Strategic Investment Solutions LLC now owns 3,802 shares of the footwear maker’s stock worth $288,000 after buying an additional 206 shares during the period. Finally, Schechter Investment Advisors LLC increased its stake in NIKE by 111.3% during the 4th quarter. Schechter Investment Advisors LLC now owns 5,769 shares of the footwear maker’s stock worth $437,000 after buying an additional 3,039 shares during the period. 64.25% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at NIKE

In other NIKE news, Director John W. Rogers, Jr. bought 2,500 shares of the company’s stock in a transaction on Friday, December 27th. The stock was purchased at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the acquisition, the director now owns 34,403 shares of the company’s stock, valued at $2,636,989.95. The trade was a 7.84 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Mark G. Parker sold 169,732 shares of the firm’s stock in a transaction dated 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 sale, the chairman now directly owns 896,632 shares in the company, valued at $65,301,708.56. This represents a 15.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages recently weighed in on NKE. BMO Capital Markets upped their target price on shares of NIKE from $92.00 to $95.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd. Telsey Advisory Group reaffirmed a “market perform” rating and set a $80.00 target price on shares of NIKE in a research note on Wednesday, February 19th. Piper Sandler raised shares of NIKE from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $72.00 to $90.00 in a research note on Friday, January 10th. Morgan Stanley dropped their price objective on shares of NIKE from $80.00 to $74.00 and set an “equal weight” rating on the stock in a research report on Friday, December 20th. Finally, Guggenheim reissued a “buy” rating and issued a $110.00 price objective on shares of NIKE in a research report on Wednesday, February 12th. Fourteen analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $89.77.

NIKE Stock Performance

Shares of NKE opened at $77.36 on Wednesday. The company has a 50-day simple moving average of $74.68 and a 200-day simple moving average of $78.25. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $114.43 billion, a PE ratio of 23.88, a P/E/G ratio of 2.52 and a beta of 1.01. NIKE, Inc. has a 52-week low of $68.62 and a 52-week high of $102.49.

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

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders 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 annualized dividend and a yield of 2.07%. NIKE’s dividend payout ratio (DPR) is currently 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.