Acropolis Investment Management LLC Sells 556 Shares of NIKE, Inc. (NYSE:NKE)

Acropolis Investment Management LLC trimmed its stake in NIKE, Inc. (NYSE:NKE) by 23.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,856 shares of the footwear maker’s stock after selling 556 shares during the period. Acropolis Investment Management LLC’s holdings in NIKE were worth $140,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of NKE. State Street Corp raised its position in NIKE by 3.3% in the 3rd quarter. State Street Corp now owns 57,916,789 shares of the footwear maker’s stock worth $5,140,796,000 after purchasing an additional 1,862,021 shares during the period. Wellington Management Group LLP lifted its stake in shares of NIKE by 5.1% during the 3rd quarter. Wellington Management Group LLP now owns 27,442,145 shares of the footwear maker’s stock worth $2,425,886,000 after acquiring an additional 1,343,093 shares during the last quarter. Geode Capital Management LLC boosted its holdings in NIKE by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 25,029,380 shares of the footwear maker’s stock valued at $2,204,451,000 after acquiring an additional 251,411 shares during the period. Legal & General Group Plc grew its position in NIKE by 5.5% in the 2nd quarter. Legal & General Group Plc now owns 11,049,294 shares of the footwear maker’s stock valued at $832,785,000 after acquiring an additional 571,544 shares during the last quarter. Finally, Fisher Asset Management LLC increased its stake in NIKE by 6.0% in the third quarter. Fisher Asset Management LLC now owns 10,303,182 shares of the footwear maker’s stock worth $910,801,000 after purchasing an additional 583,207 shares during the period. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Stock Performance

Shares of NKE stock opened at $71.04 on Thursday. NIKE, Inc. has a 12-month low of $70.53 and a 12-month high of $107.43. The business’s fifty day simple moving average is $76.05 and its 200-day simple moving average is $78.06. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57. The company has a market cap of $105.08 billion, a PE ratio of 20.36, a PEG ratio of 1.89 and a beta of 1.02.

NIKE (NYSE:NKE) last announced its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.15. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The company had revenue of $12.35 billion for the quarter, compared to analyst estimates of $12.11 billion. During the same period in the prior year, the company posted $1.03 EPS. The firm’s quarterly revenue was down 7.7% compared to the same quarter last year. Analysts expect that NIKE, Inc. will post 2.72 earnings per share for the current fiscal year.

NIKE Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were paid a $0.40 dividend. The ex-dividend date was Monday, December 2nd. This is a boost from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 dividend on an annualized basis and a yield of 2.25%. NIKE’s dividend payout ratio (DPR) is 49.38%.

Insiders Place Their Bets

In related news, Director John W. Rogers, Jr. purchased 2,500 shares of the firm’s stock in a transaction on Friday, December 27th. The stock was acquired at an average price of $76.65 per share, with a total value 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 represents a 7.84 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 1.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on NKE shares. Piper Sandler raised shares of NIKE from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $72.00 to $90.00 in a research note on Friday, January 10th. Telsey Advisory Group downgraded shares of NIKE from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $93.00 to $80.00 in a research note on Friday, December 20th. Sanford C. Bernstein decreased their price target on shares of NIKE from $112.00 to $109.00 and set an “outperform” rating for the company in a research note on Thursday, September 19th. UBS Group reissued a “neutral” rating and issued a $73.00 price objective on shares of NIKE in a research note on Thursday, December 26th. Finally, Morgan Stanley decreased their target price on NIKE from $80.00 to $74.00 and set an “equal weight” rating for the company in a research report on Friday, December 20th. Fourteen analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $89.96.

About NIKE

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.