Samalin Investment Counsel LLC Lowers Holdings in NIKE, Inc. (NYSE:NKE)

Samalin Investment Counsel LLC lessened its holdings in shares of NIKE, Inc. (NYSE:NKE) by 6.5% during the 4th quarter, Holdings Channel reports. The firm owned 3,041 shares of the footwear maker’s stock after selling 213 shares during the period. Samalin Investment Counsel LLC’s holdings in NIKE were worth $230,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of NKE. Range Financial Group LLC bought a new position in shares of NIKE during the 4th quarter valued at about $642,000. Cacti Asset Management LLC purchased a new stake in NIKE during the fourth quarter valued at $9,987,000. Capricorn Fund Managers Ltd bought a new position in NIKE during the fourth quarter valued at $5,384,000. Klein Pavlis & Peasley Financial Inc. grew its stake in shares of NIKE by 31.1% in the 4th quarter. Klein Pavlis & Peasley Financial Inc. now owns 25,835 shares of the footwear maker’s stock worth $1,955,000 after buying an additional 6,124 shares in the last quarter. Finally, FNY Investment Advisers LLC increased its holdings in shares of NIKE by 5,745.9% in the 4th quarter. FNY Investment Advisers LLC now owns 8,652 shares of the footwear maker’s stock worth $654,000 after buying an additional 8,504 shares during the last quarter. Institutional investors own 64.25% of the company’s stock.

NIKE Trading Down 5.4 %

NYSE NKE opened at $68.02 on Monday. NIKE, Inc. has a 12-month low of $65.17 and a 12-month high of $98.04. The company has a fifty day simple moving average of $74.70 and a two-hundred day simple moving average of $77.40. 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 stock has a market cap of $100.60 billion, a P/E ratio of 20.99, a P/E/G ratio of 2.52 and a beta of 1.02.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.26. The firm had revenue of $11.27 billion during the quarter, compared to analysts’ expectations of $11.02 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The company’s revenue for the quarter was down 9.1% compared to the same quarter last year. During the same period last year, the business posted $0.98 earnings per share. On average, analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.35%. The ex-dividend date is Monday, March 3rd. NIKE’s dividend payout ratio (DPR) is currently 53.16%.

Insider Buying and Selling

In related news, 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 transaction of $12,361,581.56. Following the sale, the chairman now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John W. Rogers, Jr. purchased 2,500 shares of NIKE stock in a transaction that occurred 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 transaction, the director now owns 34,403 shares of the company’s stock, valued at $2,636,989.95. This represents a 7.84 % increase in their position. The disclosure for this purchase can be found here. 1.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts recently commented on NKE shares. Telsey Advisory Group reiterated a “market perform” rating and issued a $80.00 price target on shares of NIKE in a research report on Monday, March 17th. Truist Financial lowered their price target on NIKE from $90.00 to $82.00 and set a “buy” rating for the company in a research report on Friday. Bank of America cut their price objective on shares of NIKE from $95.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Citigroup downgraded shares of NIKE from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $102.00 to $72.00 in a research note on Friday, February 7th. Finally, UBS Group cut their price target on shares of NIKE from $73.00 to $66.00 and set a “neutral” rating on the stock in a report on Friday. Fifteen equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $87.38.

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.