Washington Trust Advisors Inc. Sells 8,093 Shares of NIKE, Inc. (NYSE:NKE)

Washington Trust Advisors Inc. lessened its holdings in NIKE, Inc. (NYSE:NKE) by 5.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 129,031 shares of the footwear maker’s stock after selling 8,093 shares during the quarter. Washington Trust Advisors Inc.’s holdings in NIKE were worth $9,764,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. HS Management Partners LLC raised its position in shares of NIKE by 34.1% in the 4th quarter. HS Management Partners LLC now owns 871,325 shares of the footwear maker’s stock valued at $65,933,000 after acquiring an additional 221,785 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of NIKE in the 4th quarter valued at approximately $156,438,000. Cullen Frost Bankers Inc. raised its position in shares of NIKE by 56.0% in the 4th quarter. Cullen Frost Bankers Inc. now owns 118,151 shares of the footwear maker’s stock valued at $8,940,000 after acquiring an additional 42,409 shares during the period. Proficio Capital Partners LLC raised its position in shares of NIKE by 6.4% in the 4th quarter. Proficio Capital Partners LLC now owns 21,634 shares of the footwear maker’s stock valued at $1,637,000 after acquiring an additional 1,299 shares during the period. Finally, Assetmark Inc. raised its holdings in NIKE by 22.3% during the 4th quarter. Assetmark Inc. now owns 105,156 shares of the footwear maker’s stock worth $7,957,000 after buying an additional 19,151 shares during the period. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have commented on NKE. Truist Financial dropped their target price on shares of NIKE from $97.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Morgan Stanley lowered their price objective on shares of NIKE from $80.00 to $74.00 and set an “equal weight” rating on the stock in a report on Friday, December 20th. Citigroup downgraded shares of NIKE from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $102.00 to $72.00 in a report on Friday, February 7th. UBS Group reiterated a “neutral” rating and issued a $73.00 price objective on shares of NIKE in a report on Thursday, December 26th. Finally, DA Davidson raised shares of NIKE to a “strong-buy” rating in a research note on Monday, December 23rd. Fourteen equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, NIKE presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.77.

Insider Activity at NIKE

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 completion of the transaction, the chairman now owns 896,632 shares of the company’s stock, valued at $65,301,708.56. The trade was a 15.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John W. Rogers, Jr. purchased 2,500 shares of the company’s stock in a transaction that occurred on Friday, December 27th. The stock was bought at an average cost of $76.65 per share, with a total value of $191,625.00. Following 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 disclosure for this purchase can be found here. 1.10% of the stock is owned by insiders.

NIKE Stock Up 0.6 %

NKE opened at $77.76 on Thursday. NIKE, Inc. has a fifty-two week low of $68.62 and a fifty-two week high of $102.49. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. The company has a market capitalization of $115.01 billion, a P/E ratio of 24.00, a P/E/G ratio of 2.52 and a beta of 1.01. The stock has a fifty day moving average of $74.70 and a 200-day moving average of $78.25.

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

NIKE Dividend Announcement

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