Bar Harbor Wealth Management Decreases Stock Holdings in NIKE, Inc. (NYSE:NKE)

Bar Harbor Wealth Management lessened its stake in NIKE, Inc. (NYSE:NKE) by 23.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 31,126 shares of the footwear maker’s stock after selling 9,701 shares during the period. Bar Harbor Wealth Management’s holdings in NIKE were worth $2,355,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Teachers Insurance & Annuity Association of America bought a new position in shares of NIKE during the 3rd quarter worth approximately $30,000. VitalStone Financial LLC lifted its holdings in shares of NIKE by 52.6% during the 3rd quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock valued at $38,000 after purchasing an additional 150 shares during the last quarter. Dunhill Financial LLC boosted its position in shares of NIKE by 52.2% in the 3rd quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock worth $44,000 after purchasing an additional 169 shares in the last quarter. Ecofi Investissements SA purchased a new position in NIKE during the 2nd quarter worth $49,000. Finally, Riverview Trust Co acquired a new position in NIKE during the 3rd quarter valued at about $52,000. 64.25% of the stock is owned by hedge funds and other institutional investors.

NIKE Trading Up 1.3 %

Shares of NYSE NKE traded up $0.96 during midday trading on Monday, reaching $72.16. 11,087,486 shares of the stock were exchanged, compared to its average volume of 11,998,229. The stock has a market capitalization of $106.73 billion, a P/E ratio of 20.68, a PEG ratio of 1.89 and a beta of 1.02. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36. The company has a 50 day simple moving average of $76.29 and a 200 day simple moving average of $78.25. NIKE, Inc. has a twelve month low of $70.75 and a twelve month high of $107.43.

NIKE (NYSE:NKE) last posted its earnings results on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.15. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The company had revenue of $12.35 billion for the quarter, compared to analysts’ expectations of $12.11 billion. During the same quarter in the prior year, the company posted $1.03 earnings per share. NIKE’s revenue for the quarter was down 7.7% compared to the same quarter last year. As a group, equities analysts expect that NIKE, Inc. will post 2.72 earnings per share for the current year.

NIKE Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders 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. This represents a $1.60 annualized dividend and a yield of 2.22%. The ex-dividend date was Monday, December 2nd. NIKE’s payout ratio is currently 49.38%.

Insider Transactions at NIKE

In related news, Director John W. Rogers, Jr. acquired 2,500 shares of the firm’s stock in a transaction dated Friday, December 27th. The stock was acquired at an average price of $76.65 per share, for a total transaction 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on NKE. Truist Financial lowered their price target on NIKE from $97.00 to $90.00 and set a “buy” rating for the company in a report on Friday, December 20th. Sanford C. Bernstein dropped their target price on shares of NIKE from $112.00 to $109.00 and set an “outperform” rating on the stock in a research report on Thursday, September 19th. Piper Sandler raised shares of NIKE from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $72.00 to $90.00 in a report on Friday. Guggenheim dropped their price objective on shares of NIKE from $115.00 to $110.00 and set a “buy” rating on the stock in a report on Wednesday, October 2nd. Finally, Needham & Company LLC restated a “buy” rating and issued a $84.00 target price on shares of NIKE in a research note on Friday, December 20th. Fourteen equities research 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. According to data from MarketBeat, NIKE currently has a consensus rating of “Moderate Buy” and an average target price of $89.96.

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.