NIKE, Inc. (NYSE:NKE) Holdings Lowered by Ritholtz Wealth Management

Ritholtz Wealth Management decreased its stake in NIKE, Inc. (NYSE:NKE) by 11.1% in the fourth quarter, HoldingsChannel reports. The firm owned 6,844 shares of the footwear maker’s stock after selling 858 shares during the period. Ritholtz Wealth Management’s holdings in NIKE were worth $518,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of NKE. Garrison Point Advisors LLC lifted its stake in NIKE by 1.9% during the third quarter. Garrison Point Advisors LLC now owns 6,704 shares of the footwear maker’s stock valued at $593,000 after buying an additional 126 shares in the last quarter. Stephens Consulting LLC raised its holdings in shares of NIKE by 20.0% during the third quarter. Stephens Consulting LLC now owns 768 shares of the footwear maker’s stock valued at $68,000 after acquiring an additional 128 shares during the period. PSI Advisors LLC boosted its stake in NIKE by 26.3% in the 3rd quarter. PSI Advisors LLC now owns 624 shares of the footwear maker’s stock worth $55,000 after purchasing an additional 130 shares during the period. Chapin Davis Inc. grew its position in NIKE by 1.2% during the 3rd quarter. Chapin Davis Inc. now owns 11,430 shares of the footwear maker’s stock worth $1,010,000 after purchasing an additional 133 shares in the last quarter. Finally, Meridian Financial Partners LLC raised its stake in NIKE by 1.6% during the 3rd quarter. Meridian Financial Partners LLC now owns 8,396 shares of the footwear maker’s stock valued at $742,000 after purchasing an additional 133 shares during the period. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Price Performance

NIKE stock opened at $70.89 on Tuesday. The business has a 50 day simple moving average of $75.77 and a 200 day simple moving average of $77.95. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. The company has a market capitalization of $104.85 billion, a PE ratio of 21.88, a price-to-earnings-growth ratio of 2.26 and a beta of 1.02. NIKE, Inc. has a one year low of $70.32 and a one year high of $107.43.

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

NIKE Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were paid a $0.40 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.26%. This is a boost from NIKE’s previous quarterly dividend of $0.37. NIKE’s payout ratio is 49.38%.

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 transaction, 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 available through the SEC website. 1.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on NKE shares. Wells Fargo & Company dropped their price target on NIKE from $95.00 to $92.00 and set an “overweight” rating on the stock in a research report on Monday, December 16th. Piper Sandler upgraded NIKE from a “neutral” rating to an “overweight” rating and upped their target price for the company from $72.00 to $90.00 in a report on Friday, January 10th. Truist Financial lowered their price objective on shares of NIKE from $97.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Needham & Company LLC reiterated a “buy” rating and issued a $84.00 target price on shares of NIKE in a research report on Friday, December 20th. Finally, Royal Bank of Canada lowered their price target on shares of NIKE from $82.00 to $80.00 and set a “sector perform” rating on the stock in a report on Thursday, November 7th. Fourteen analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, NIKE has an average rating of “Moderate Buy” and an average price target of $89.96.

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.