NIKE, Inc. (NYSE:NKE) Shares Sold by Stableford Capital II LLC

Stableford Capital II LLC reduced its stake in NIKE, Inc. (NYSE:NKE) by 36.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,411 shares of the footwear maker’s stock after selling 7,058 shares during the quarter. Stableford Capital II LLC’s holdings in NIKE were worth $939,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Range Financial Group LLC acquired a new stake in shares of NIKE during the 4th quarter worth about $642,000. Cacti Asset Management LLC purchased a new position in shares of NIKE during the fourth quarter valued at approximately $9,987,000. Capricorn Fund Managers Ltd purchased a new position in shares of NIKE during the fourth quarter valued at approximately $5,384,000. FNY Investment Advisers LLC boosted its position 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 worth $654,000 after acquiring an additional 8,504 shares during the last quarter. Finally, Eagle Rock Investment Company LLC grew its stake in NIKE by 49.2% in the 4th quarter. Eagle Rock Investment Company LLC now owns 60,642 shares of the footwear maker’s stock worth $4,589,000 after acquiring an additional 19,991 shares during the period. Institutional investors and hedge funds own 64.25% of the company’s stock.

Analyst Ratings Changes

NKE has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft decreased their price objective on NIKE from $92.00 to $82.00 and set a “buy” rating on the stock in a report on Monday, December 16th. TD Cowen decreased their price target on NIKE from $78.00 to $73.00 and set a “hold” rating on the stock in a research note on Monday, November 18th. Bank of America lowered their price target on NIKE from $95.00 to $90.00 and set a “buy” rating for the company in a report on Friday, December 20th. Piper Sandler upgraded shares of NIKE from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $72.00 to $90.00 in a report on Friday, January 10th. Finally, JPMorgan Chase & Co. lowered their target price on shares of NIKE from $77.00 to $73.00 and set a “neutral” rating for the company in a report on Monday, December 2nd. Fourteen investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, NIKE has an average rating of “Moderate Buy” and an average target price of $89.96.

NIKE Stock Performance

Shares of NKE stock opened at $76.82 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. The company’s fifty day moving average price is $75.60 and its two-hundred day moving average price is $77.99. The firm has a market capitalization of $113.62 billion, a P/E ratio of 23.71, a P/E/G ratio of 2.44 and a beta of 1.02. NIKE, Inc. has a 12 month low of $70.32 and a 12 month high of $107.43.

NIKE (NYSE:NKE) last released its quarterly earnings results 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 business had revenue of $12.35 billion for the quarter, compared to analysts’ expectations of $12.11 billion. During the same quarter in the previous year, the firm posted $1.03 earnings per share. The company’s revenue was down 7.7% compared to the same quarter last year. On average, research analysts anticipate that NIKE, Inc. will post 2.09 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. Stockholders of record on Monday, December 2nd were paid 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 2.08%. The ex-dividend date was Monday, December 2nd. NIKE’s dividend payout ratio is 49.38%.

Insider Transactions at NIKE

In related news, Director John W. Rogers, Jr. purchased 2,500 shares of the business’s stock in a transaction that occurred on Friday, December 27th. The shares were purchased at an average cost of $76.65 per share, with a total value of $191,625.00. Following the completion of the acquisition, the director now directly owns 34,403 shares of the company’s stock, valued at approximately $2,636,989.95. The trade was a 7.84 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.10% of the company’s stock.

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.