Hartford Investment Management Co. Has $5.57 Million Stock Holdings in NIKE, Inc. (NYSE:NKE)

Hartford Investment Management Co. decreased its holdings in shares of NIKE, Inc. (NYSE:NKE) by 2.7% in the 4th quarter, HoldingsChannel reports. The firm owned 73,570 shares of the footwear maker’s stock after selling 2,029 shares during the period. Hartford Investment Management Co.’s holdings in NIKE were worth $5,567,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also added to or reduced their stakes in NKE. Heck Capital Advisors LLC acquired a new stake in NIKE during the 4th quarter valued at $28,000. Caitlin John LLC lifted its holdings in shares of NIKE by 117.0% during the fourth quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock worth $28,000 after buying an additional 200 shares in the last quarter. Teachers Insurance & Annuity Association of America acquired a new stake in shares of NIKE during the third quarter worth $30,000. VitalStone Financial LLC lifted 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. Finally, Dunhill Financial LLC lifted its holdings in shares of NIKE by 52.2% during the third quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock worth $44,000 after buying an additional 169 shares in the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

Insider Transactions at NIKE

In other news, Director John W. Rogers, Jr. purchased 2,500 shares of NIKE stock in a transaction dated Friday, December 27th. The shares were bought at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the acquisition, the director now owns 34,403 shares in the company, valued at approximately $2,636,989.95. This trade represents a 7.84 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Truist Financial dropped their target price on NIKE from $97.00 to $90.00 and set a “buy” rating for the company in a report on Friday, December 20th. Barclays dropped their target price on NIKE from $79.00 to $70.00 and set an “equal weight” rating for the company in a report on Friday, December 20th. Needham & Company LLC reissued a “buy” rating and set a $84.00 target price on shares of NIKE in a report on Friday, February 7th. JPMorgan Chase & Co. dropped their target price on NIKE from $77.00 to $73.00 and set a “neutral” rating for the company in a report on Monday, December 2nd. Finally, Wells Fargo & Company dropped their price target on NIKE from $95.00 to $92.00 and set an “overweight” rating for the company in a research note on Monday, December 16th. Fifteen analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $88.62.

NIKE Stock Performance

NYSE:NKE opened at $71.35 on Wednesday. The stock has a market cap of $105.53 billion, a P/E ratio of 22.02, a price-to-earnings-growth ratio of 2.34 and a beta of 1.01. 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’s 50-day moving average is $74.95 and its 200-day moving average is $78.09. NIKE, Inc. has a 1-year low of $68.62 and a 1-year high of $107.43.

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, topping the consensus estimate of $0.63 by $0.15. The company had revenue of $12.35 billion for 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 business’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.03 earnings per share. Equities research analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were issued a dividend of $0.40 per share. This is a boost from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a dividend yield of 2.24%. The ex-dividend date was Monday, December 2nd. NIKE’s payout ratio is 49.38%.

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.