Atria Investments Inc Sells 23,294 Shares of NIKE, Inc. (NYSE:NKE)

Atria Investments Inc lessened its stake in NIKE, Inc. (NYSE:NKE) by 29.0% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 57,067 shares of the footwear maker’s stock after selling 23,294 shares during the period. Atria Investments Inc’s holdings in NIKE were worth $4,318,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in NKE. M&G PLC lifted its stake in shares of NIKE by 0.9% in the 3rd quarter. M&G PLC now owns 35,768 shares of the footwear maker’s stock valued at $3,148,000 after purchasing an additional 305 shares during the period. Western Pacific Wealth Management LP raised its stake in NIKE by 0.3% during the 3rd quarter. Western Pacific Wealth Management LP now owns 609,238 shares of the footwear maker’s stock worth $53,857,000 after buying an additional 2,012 shares during the period. Mainstream Capital Management LLC acquired a new position in NIKE during the 3rd quarter worth approximately $749,000. Confluence Investment Management LLC raised its stake in NIKE by 1.1% during the 3rd quarter. Confluence Investment Management LLC now owns 231,488 shares of the footwear maker’s stock worth $20,464,000 after buying an additional 2,516 shares during the period. Finally, Sittner & Nelson LLC raised its stake in NIKE by 7.6% during the 3rd quarter. Sittner & Nelson LLC now owns 28,430 shares of the footwear maker’s stock worth $2,513,000 after buying an additional 2,013 shares during the period. Institutional investors own 64.25% of the company’s stock.

NIKE Trading Up 1.3 %

NYSE NKE opened at $78.68 on Friday. The stock’s 50-day simple moving average is $74.76 and its two-hundred day simple moving average is $78.21. NIKE, Inc. has a twelve month low of $68.62 and a twelve month high of $102.49. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $116.38 billion, a price-to-earnings ratio of 24.28, a PEG ratio of 2.52 and a beta of 1.02.

NIKE (NYSE:NKE) last released its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.15. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The business had revenue of $12.35 billion for the quarter, compared to the consensus estimate of $12.11 billion. During the same quarter last year, the business posted $1.03 earnings per share. The company’s revenue for the quarter was down 7.7% on a year-over-year basis. Research analysts forecast that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.03%. NIKE’s dividend payout ratio (DPR) is currently 49.38%.

Analysts Set New Price Targets

NKE has been the topic of a number of research reports. Telsey Advisory Group reaffirmed a “market perform” rating and set a $80.00 price target on shares of NIKE in a research note on Wednesday, February 19th. JPMorgan Chase & Co. dropped their price target on NIKE from $77.00 to $73.00 and set a “neutral” rating on the stock in a research note on Monday, December 2nd. Barclays dropped their price target on NIKE from $79.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Friday, December 20th. Piper Sandler raised NIKE from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $72.00 to $90.00 in a research note on Friday, January 10th. Finally, Robert W. Baird lowered their price objective on NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a research note on Monday, December 23rd. Fourteen investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.77.

Insider Activity

In other NIKE news, Director John W. Rogers, Jr. bought 2,500 shares of the business’s stock in a transaction that occurred 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. This trade represents a 7.84 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Mark G. Parker sold 169,732 shares of the firm’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $72.83, for a total value of $12,361,581.56. Following the completion of the sale, the chairman now directly owns 896,632 shares in the company, valued at $65,301,708.56. The trade was a 15.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

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.