Capital Investment Advisors LLC Sells 20,451 Shares of NIKE, Inc. (NYSE:NKE)

Capital Investment Advisors LLC reduced its position in NIKE, Inc. (NYSE:NKE) by 15.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 109,729 shares of the footwear maker’s stock after selling 20,451 shares during the quarter. Capital Investment Advisors LLC’s holdings in NIKE were worth $8,303,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. State Street Corp boosted its position in shares of NIKE by 3.3% in the third quarter. State Street Corp now owns 57,916,789 shares of the footwear maker’s stock valued at $5,140,796,000 after acquiring an additional 1,862,021 shares during the period. Wellington Management Group LLP grew its position in shares of NIKE by 5.1% during the 3rd quarter. Wellington Management Group LLP now owns 27,442,145 shares of the footwear maker’s stock valued at $2,425,886,000 after purchasing an additional 1,343,093 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of NIKE by 1.0% in the third quarter. Geode Capital Management LLC now owns 25,029,380 shares of the footwear maker’s stock worth $2,204,451,000 after purchasing an additional 251,411 shares during the period. Legal & General Group Plc raised its position in shares of NIKE by 5.5% in the second quarter. Legal & General Group Plc now owns 11,049,294 shares of the footwear maker’s stock worth $832,785,000 after buying an additional 571,544 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its stake in NIKE by 6.0% during the third quarter. Fisher Asset Management LLC now owns 10,303,182 shares of the footwear maker’s stock valued at $910,801,000 after buying an additional 583,207 shares during the period. Institutional investors own 64.25% of the company’s stock.

NIKE Stock Up 1.4 %

NYSE:NKE traded up $0.99 during midday trading on Monday, reaching $72.19. The company had a trading volume of 4,871,436 shares, compared to its average volume of 11,119,074. The stock’s fifty day simple moving average is $76.29 and its 200-day simple moving average is $78.25. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a 12-month low of $70.75 and a 12-month high of $107.43. The firm has a market capitalization of $106.78 billion, a price-to-earnings ratio of 20.68, a PEG ratio of 1.89 and a beta of 1.02.

NIKE (NYSE:NKE) last issued its earnings results on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.15. The firm had revenue of $12.35 billion during the quarter, compared to the consensus estimate of $12.11 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The company’s revenue was down 7.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.03 earnings per share. On average, sell-side analysts anticipate that NIKE, Inc. will post 2.72 earnings per share for the current fiscal year.

NIKE Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were given a $0.40 dividend. This is an increase from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date was Monday, December 2nd. This represents a $1.60 annualized dividend and a yield of 2.22%. NIKE’s dividend payout ratio is 49.38%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on NKE. Barclays lowered their price objective on shares of NIKE from $79.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Friday, December 20th. Robert W. Baird reduced their target price on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a report on Monday, December 23rd. Truist Financial lowered their price target 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. Bank of America decreased their price objective on NIKE from $95.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Finally, Telsey Advisory Group downgraded shares of NIKE from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $93.00 to $80.00 in a research report on Friday, December 20th. Fourteen analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, NIKE presently has an average rating of “Moderate Buy” and a consensus target price of $89.96.

Insider Transactions at NIKE

In other NIKE news, Director John W. Rogers, Jr. acquired 2,500 shares of the business’s stock in a transaction on Friday, December 27th. The stock was purchased at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.10% of the company’s stock.

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.