Steward Partners Investment Advisory LLC Sells 4,545 Shares of NIKE, Inc. (NYSE:NKE)

Steward Partners Investment Advisory LLC lowered its stake in NIKE, Inc. (NYSE:NKE) by 4.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 94,783 shares of the footwear maker’s stock after selling 4,545 shares during the period. Steward Partners Investment Advisory LLC’s holdings in NIKE were worth $7,172,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Range Financial Group LLC bought a new stake in shares of NIKE during the 4th quarter valued at about $642,000. Cacti Asset Management LLC bought a new stake in NIKE during the 4th quarter valued at approximately $9,987,000. Capricorn Fund Managers Ltd purchased a new position in shares of NIKE during the 4th quarter worth approximately $5,384,000. Klein Pavlis & Peasley Financial Inc. raised its position in shares of NIKE by 31.1% in the 4th quarter. Klein Pavlis & Peasley Financial Inc. now owns 25,835 shares of the footwear maker’s stock worth $1,955,000 after acquiring an additional 6,124 shares in the last quarter. Finally, FNY Investment Advisers LLC raised its position in shares of NIKE by 5,745.9% in the 4th quarter. FNY Investment Advisers LLC now owns 8,652 shares of the footwear maker’s stock worth $654,000 after acquiring an additional 8,504 shares in the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Chairman Mark G. Parker sold 169,732 shares of the stock in a transaction that occurred 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 completion of the transaction, the chairman now directly owns 896,632 shares of the company’s stock, valued at approximately $65,301,708.56. This represents a 15.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John W. Rogers, Jr. purchased 2,500 shares of the business’s stock in a transaction on Friday, December 27th. The shares were purchased at an average price of $76.65 per share, with a total value of $191,625.00. Following the acquisition, the director now directly owns 34,403 shares in the company, 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. Company insiders own 1.10% of the company’s stock.

NIKE Stock Performance

NYSE NKE opened at $77.76 on Thursday. 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, Inc. has a twelve month low of $68.62 and a twelve month high of $102.49. The business has a 50-day moving average price of $74.70 and a 200-day moving average price of $78.25. The firm has a market cap of $115.01 billion, a price-to-earnings ratio of 24.00, a price-to-earnings-growth ratio of 2.52 and a beta of 1.01.

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

NIKE Dividend Announcement

The business also recently disclosed 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. This represents a $1.60 annualized dividend and a dividend yield of 2.06%. The ex-dividend date of this dividend is Monday, March 3rd. NIKE’s dividend payout ratio (DPR) is presently 49.38%.

Wall Street Analysts Forecast Growth

NKE has been the topic of several recent research reports. DA Davidson raised NIKE to a “strong-buy” rating in a research note on Monday, December 23rd. Royal Bank of Canada reduced their target price 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. Piper Sandler raised shares of NIKE from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $72.00 to $90.00 in a research report on Friday, January 10th. Stifel Nicolaus cut their price objective on shares of NIKE from $79.00 to $75.00 and set a “hold” rating on the stock in a report on Friday, December 20th. Finally, Jefferies Financial Group upgraded NIKE from a “hold” rating to a “buy” rating and lifted their price objective for the company from $75.00 to $115.00 in a research note on Monday, February 24th. Fourteen equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $89.77.

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.