NIKE, Inc. (NYSE:NKE) Shares Sold by Asset Dedication LLC

Asset Dedication LLC trimmed its holdings in shares of NIKE, Inc. (NYSE:NKE) by 47.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,390 shares of the footwear maker’s stock after selling 11,364 shares during the quarter. Asset Dedication LLC’s holdings in NIKE were worth $938,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in NKE. Teachers Insurance & Annuity Association of America acquired a new stake in shares of NIKE in the third quarter worth approximately $30,000. VitalStone Financial LLC grew its holdings in shares of NIKE by 52.6% during the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock worth $38,000 after buying an additional 150 shares in the last quarter. Dunhill Financial LLC raised its position in shares of NIKE by 52.2% in the third quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock valued at $44,000 after buying an additional 169 shares during the last quarter. Riverview Trust Co purchased a new position in shares of NIKE in the third quarter worth about $52,000. Finally, Catalyst Capital Advisors LLC acquired a new position in NIKE during the third quarter worth about $54,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Robert W. Baird decreased their target price on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a research note on Monday, December 23rd. Barclays cut their price target on shares of NIKE from $79.00 to $70.00 and set an “equal weight” rating for the company in a report on Friday, December 20th. Truist Financial decreased their price target on NIKE from $97.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Needham & Company LLC reissued a “buy” rating and set a $84.00 price objective on shares of NIKE in a research report on Friday, December 20th. Finally, UBS Group reaffirmed a “neutral” rating and issued a $73.00 target price on shares of NIKE in a research report on Thursday, December 26th. Fourteen analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $89.96.

NIKE Stock Up 3.0 %

NIKE stock opened at $76.65 on Thursday. The stock’s fifty day moving average is $75.48 and its two-hundred day moving average is $77.96. The stock has a market cap of $113.38 billion, a PE ratio of 23.66, a P/E/G ratio of 2.36 and a beta of 1.02. NIKE, Inc. has a 1-year low of $70.32 and a 1-year high of $107.43. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51.

NIKE (NYSE:NKE) last posted its 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. The firm had revenue of $12.35 billion during the quarter, compared to analysts’ expectations of $12.11 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The firm’s revenue was down 7.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.03 earnings per share. On average, sell-side analysts expect that NIKE, Inc. will post 2.1 EPS for the current fiscal year.

NIKE Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.09%. This is an increase from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date was Monday, December 2nd. NIKE’s dividend payout ratio (DPR) is 49.38%.

Insider Buying and Selling

In other news, Director John W. Rogers, Jr. acquired 2,500 shares of the company’s stock in a transaction on Friday, December 27th. The shares were bought at an average price of $76.65 per share, with a total value of $191,625.00. Following the completion of the acquisition, the director now owns 34,403 shares in the company, valued at $2,636,989.95. This trade represents a 7.84 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 1.10% of the stock is owned by company insiders.

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.