Dorsey & Whitney Trust CO LLC Trims Position in NIKE, Inc. (NYSE:NKE)

Dorsey & Whitney Trust CO LLC decreased its stake in NIKE, Inc. (NYSE:NKE) by 8.4% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 27,738 shares of the footwear maker’s stock after selling 2,528 shares during the period. Dorsey & Whitney Trust CO LLC’s holdings in NIKE were worth $2,099,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Pacer Advisors Inc. boosted its stake in shares of NIKE by 6,029.6% in the fourth quarter. Pacer Advisors Inc. now owns 6,821,270 shares of the footwear maker’s stock worth $516,166,000 after acquiring an additional 6,709,985 shares during the period. Loomis Sayles & Co. L P boosted its stake in NIKE by 1,209,638.7% during the third quarter. Loomis Sayles & Co. L P now owns 6,508,394 shares of the footwear maker’s stock valued at $575,342,000 after buying an additional 6,507,856 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of NIKE by 18.1% in the 4th quarter. Bank of New York Mellon Corp now owns 20,367,993 shares of the footwear maker’s stock valued at $1,541,246,000 after purchasing an additional 3,121,929 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of NIKE by 358.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 3,015,267 shares of the footwear maker’s stock valued at $228,165,000 after purchasing an additional 2,357,745 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of NIKE in the 4th quarter valued at approximately $156,438,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Price Performance

NYSE:NKE opened at $78.68 on Friday. NIKE, Inc. has a 12 month low of $68.62 and a 12 month high of $102.49. The stock has a 50 day moving average of $74.76 and a two-hundred day moving average of $78.18. 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 firm has a market cap of $116.38 billion, a P/E ratio of 24.28, a price-to-earnings-growth ratio of 2.52 and a beta of 1.02.

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

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders 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 annualized dividend and a yield of 2.03%. NIKE’s dividend payout ratio (DPR) is currently 49.38%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Jefferies Financial Group upgraded NIKE from a “hold” rating to a “buy” rating and increased their price target for the stock from $75.00 to $115.00 in a report on Monday, February 24th. Wells Fargo & Company dropped their target price on NIKE from $95.00 to $92.00 and set an “overweight” rating on the stock in a research report on Monday, December 16th. UBS Group reissued a “neutral” rating and issued a $73.00 price objective on shares of NIKE in a research report on Thursday, December 26th. Barclays lowered their price target on NIKE from $79.00 to $70.00 and set an “equal weight” rating for the company in a research report on Friday, December 20th. Finally, Truist Financial lowered their price target on NIKE from $97.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Fourteen research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, NIKE presently has a consensus rating of “Moderate Buy” and an average price target of $89.77.

Insiders Place Their Bets

In related news, Director John W. Rogers, Jr. purchased 2,500 shares of the company’s stock in a transaction dated Friday, December 27th. The stock was acquired at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Mark G. Parker sold 169,732 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The shares were 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 owns 896,632 shares of the company’s stock, valued at $65,301,708.56. This trade represents a 15.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.