KMG Fiduciary Partners LLC Lowers Position in NIKE, Inc. (NYSE:NKE)

KMG Fiduciary Partners LLC lessened its stake in NIKE, Inc. (NYSE:NKE) by 2.8% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 14,685 shares of the footwear maker’s stock after selling 430 shares during the quarter. KMG Fiduciary Partners LLC’s holdings in NIKE were worth $1,111,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of NKE. Range Financial Group LLC purchased a new stake in NIKE during the fourth quarter valued at $642,000. Cacti Asset Management LLC purchased a new stake in NIKE during the fourth quarter valued at $9,987,000. FNY Investment Advisers LLC raised its stake in NIKE by 5,745.9% during the fourth quarter. FNY Investment Advisers LLC now owns 8,652 shares of the footwear maker’s stock valued at $654,000 after purchasing an additional 8,504 shares in the last quarter. Mirador Capital Partners LP raised its stake in NIKE by 69.8% during the fourth quarter. Mirador Capital Partners LP now owns 72,986 shares of the footwear maker’s stock valued at $5,523,000 after purchasing an additional 30,011 shares in the last quarter. Finally, Eagle Rock Investment Company LLC raised its stake in NIKE by 49.2% during the fourth quarter. Eagle Rock Investment Company LLC now owns 60,642 shares of the footwear maker’s stock valued at $4,589,000 after purchasing an additional 19,991 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Analysts Set New Price Targets

NKE has been the topic of a number of recent research reports. Barclays decreased their price target on shares of NIKE from $79.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Friday, December 20th. Truist Financial decreased their price target on shares of NIKE from $97.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Stifel Nicolaus decreased their price target on shares of NIKE from $79.00 to $75.00 and set a “hold” rating on the stock in a research note on Friday, December 20th. JPMorgan Chase & Co. cut their price objective on shares of NIKE from $77.00 to $73.00 and set a “neutral” rating on the stock in a research report on Monday, December 2nd. Finally, Morgan Stanley cut their price objective on shares of NIKE from $80.00 to $74.00 and set an “equal weight” rating on the stock 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 one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $89.96.

Insider Buying and Selling at NIKE

In other 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 cost 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 in the company, valued at $2,636,989.95. This represents a 7.84 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 1.10% of the company’s stock.

NIKE Stock Down 0.3 %

Shares of NIKE stock opened at $70.89 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. NIKE, Inc. has a 1 year low of $70.32 and a 1 year high of $107.43. The firm’s 50-day moving average is $75.87 and its two-hundred day moving average is $77.96. The stock has a market cap of $104.85 billion, a price-to-earnings ratio of 21.88, a PEG ratio of 2.26 and a beta of 1.02.

NIKE (NYSE:NKE) last issued its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.15. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The company had revenue of $12.35 billion for the quarter, compared to analysts’ expectations of $12.11 billion. During the same period in the prior year, the business earned $1.03 EPS. The firm’s quarterly revenue was down 7.7% on a year-over-year basis. As a group, research analysts expect that NIKE, Inc. will post 2.1 earnings per share for the current fiscal year.

NIKE Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.26%. This is a boost from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date was Monday, December 2nd. NIKE’s dividend payout ratio is presently 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.