Dynamic Advisor Solutions LLC Sells 5,519 Shares of NIKE, Inc. (NYSE:NKE)

Dynamic Advisor Solutions LLC reduced its holdings in shares of NIKE, Inc. (NYSE:NKE) by 38.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,744 shares of the footwear maker’s stock after selling 5,519 shares during the quarter. Dynamic Advisor Solutions LLC’s holdings in NIKE were worth $662,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Bennett Selby Investments LP raised its position in NIKE by 82.9% in the 4th quarter. Bennett Selby Investments LP now owns 36,391 shares of the footwear maker’s stock worth $2,754,000 after buying an additional 16,498 shares during the last quarter. Exchange Traded Concepts LLC raised its holdings in shares of NIKE by 9.4% during the fourth quarter. Exchange Traded Concepts LLC now owns 30,787 shares of the footwear maker’s stock valued at $2,330,000 after purchasing an additional 2,646 shares during the last quarter. CX Institutional lifted its position in NIKE by 21.1% during the fourth quarter. CX Institutional now owns 71,156 shares of the footwear maker’s stock valued at $5,384,000 after purchasing an additional 12,394 shares during the period. RFG Advisory LLC boosted its holdings in NIKE by 207.1% in the fourth quarter. RFG Advisory LLC now owns 8,735 shares of the footwear maker’s stock worth $661,000 after purchasing an additional 5,891 shares during the last quarter. Finally, Brighton Jones LLC grew its position in NIKE by 388.5% in the 4th quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker’s stock worth $15,316,000 after purchasing an additional 160,980 shares during the period. 64.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on NKE shares. Piper Sandler raised NIKE from a “neutral” rating to an “overweight” rating and increased their price target for the company from $72.00 to $90.00 in a report on Friday, January 10th. Truist Financial dropped their target price on NIKE from $97.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Royal Bank of Canada reduced their price target on shares of NIKE from $82.00 to $80.00 and set a “sector perform” rating for the company in a research report on Thursday, November 7th. JPMorgan Chase & Co. dropped their price objective on shares of NIKE from $77.00 to $73.00 and set a “neutral” rating on the stock in a report on Monday, December 2nd. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $84.00 target price on shares of NIKE in a report on Friday, December 20th. Fourteen research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, NIKE presently has an average rating of “Moderate Buy” and an average price target of $89.96.

NIKE Price Performance

Shares of NIKE stock opened at $75.69 on Tuesday. The firm has a market cap of $111.96 billion, a PE ratio of 23.36, a PEG ratio of 2.36 and a beta of 1.02. The stock has a 50 day moving average of $75.45 and a 200 day moving average of $77.94. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a 12 month low of $70.32 and a 12 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. The firm had revenue of $12.35 billion during 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 company’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.03 EPS. On average, research analysts expect that NIKE, Inc. will post 2.1 EPS for the current fiscal 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. The ex-dividend date of this dividend was Monday, December 2nd. This is an increase from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.11%. NIKE’s payout ratio is 49.38%.

Insider Activity

In related news, Director John W. Rogers, Jr. acquired 2,500 shares of NIKE stock in a transaction on Friday, December 27th. The shares were bought at an average cost of $76.65 per share, with a total value of $191,625.00. Following the completion of the purchase, the director now directly 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 acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 1.10% of the company’s stock.

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.