NIKE, Inc. (NYSE:NKE) Shares Sold by Whitener Capital Management Inc.

Whitener Capital Management Inc. lowered its stake in shares of NIKE, Inc. (NYSE:NKE) by 4.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,222 shares of the footwear maker’s stock after selling 1,426 shares during the quarter. Whitener Capital Management Inc.’s holdings in NIKE were worth $2,590,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Brighton Jones LLC boosted its holdings in NIKE by 10.0% in the second quarter. Brighton Jones LLC now owns 223,044 shares of the footwear maker’s stock worth $16,811,000 after purchasing an additional 20,353 shares during the period. GM Advisory Group LLC boosted its holdings in NIKE by 3.2% in the second quarter. GM Advisory Group LLC now owns 8,638 shares of the footwear maker’s stock worth $651,000 after purchasing an additional 267 shares during the period. Benjamin F. Edwards & Company Inc. boosted its holdings in NIKE by 28.0% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 97,112 shares of the footwear maker’s stock worth $7,319,000 after purchasing an additional 21,259 shares during the period. AR Asset Management Inc. boosted its holdings in NIKE by 0.5% in the second quarter. AR Asset Management Inc. now owns 78,770 shares of the footwear maker’s stock worth $5,937,000 after purchasing an additional 400 shares during the period. Finally, Bridges Investment Management Inc. boosted its holdings in NIKE by 283.8% in the second quarter. Bridges Investment Management Inc. now owns 137,859 shares of the footwear maker’s stock worth $10,390,000 after purchasing an additional 101,937 shares during the period. Institutional investors and hedge funds own 64.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on NKE shares. DA Davidson raised shares of NIKE to a “strong-buy” rating in a report on Monday, December 23rd. Morgan Stanley cut their target price on NIKE from $80.00 to $74.00 and set an “equal weight” rating on the stock in a research note on Friday, December 20th. Truist Financial cut their target price on NIKE from $97.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Guggenheim cut their target price on NIKE from $115.00 to $110.00 and set a “buy” rating on the stock in a research note on Wednesday, October 2nd. Finally, Evercore ISI cut their target price on NIKE from $105.00 to $97.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. Fourteen investment 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 stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $89.96.

Insider Activity

In other NIKE news, Director John W. Rogers, Jr. bought 2,500 shares of the company’s stock in a transaction dated Friday, December 27th. The shares were bought at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the acquisition, the director now directly owns 34,403 shares of the company’s stock, valued at approximately $2,636,989.95. This trade represents a 7.84 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.10% of the stock is owned by corporate insiders.

NIKE Price Performance

NYSE NKE opened at $70.89 on Friday. The stock’s 50-day moving average price is $75.87 and its two-hundred day moving average price is $77.96. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. The company has a market cap of $104.85 billion, a PE ratio of 21.88, a PEG ratio of 2.26 and a beta of 1.02. NIKE, Inc. has a 1 year low of $70.32 and a 1 year high of $107.43.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.15. The firm had revenue of $12.35 billion for the quarter, compared to the consensus estimate of $12.11 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The business’s revenue for the quarter was down 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.03 EPS. On average, analysts predict that NIKE, Inc. will post 2.1 EPS for the current year.

NIKE Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were issued 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 dividend on an annualized basis and a dividend yield of 2.26%. NIKE’s dividend payout ratio is currently 49.38%.

NIKE Company 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.