NIKE, Inc. (NYSE:NKE) Stock Position Reduced by Trust Point Inc.

Trust Point Inc. lessened its position in shares of NIKE, Inc. (NYSE:NKE) by 27.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,710 shares of the footwear maker’s stock after selling 1,765 shares during the period. Trust Point Inc.’s holdings in NIKE were worth $356,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the stock. Alliance Wealth Advisors LLC UT lifted its holdings in shares of NIKE by 19.0% in the 4th quarter. Alliance Wealth Advisors LLC UT now owns 9,147 shares of the footwear maker’s stock worth $692,000 after purchasing an additional 1,459 shares during the last quarter. Optas LLC lifted its holdings in shares of NIKE by 5.2% in the 4th quarter. Optas LLC now owns 3,861 shares of the footwear maker’s stock worth $292,000 after purchasing an additional 191 shares during the last quarter. Leisure Capital Management lifted its holdings in shares of NIKE by 99.1% in the 4th quarter. Leisure Capital Management now owns 21,261 shares of the footwear maker’s stock worth $1,609,000 after purchasing an additional 10,585 shares during the last quarter. JB Capital LLC lifted its holdings in shares of NIKE by 6.3% in the 4th quarter. JB Capital LLC now owns 36,667 shares of the footwear maker’s stock worth $2,775,000 after purchasing an additional 2,180 shares during the last quarter. Finally, Chicago Capital LLC lifted its holdings in shares of NIKE by 12.7% in the 4th quarter. Chicago Capital LLC now owns 8,869 shares of the footwear maker’s stock worth $671,000 after purchasing an additional 1,000 shares during the last quarter. Institutional investors own 64.25% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on NKE. Stifel Nicolaus cut their price target on NIKE from $79.00 to $75.00 and set a “hold” rating on the stock in a report on Friday, December 20th. Truist Financial lowered their target price on NIKE from $97.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. UBS Group restated a “neutral” rating and issued a $73.00 target price on shares of NIKE in a research report on Thursday, December 26th. DA Davidson upgraded NIKE to a “strong-buy” rating in a research report on Monday, December 23rd. Finally, Telsey Advisory Group cut NIKE from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $93.00 to $80.00 in a research report on Friday, December 20th. Fourteen investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, NIKE presently has a consensus rating of “Moderate Buy” and an average target price of $89.77.

Insider Activity at NIKE

In other news, Director John W. Rogers, Jr. acquired 2,500 shares of NIKE stock in a transaction that occurred on Friday, December 27th. The stock was purchased 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 in the company, valued at approximately $2,636,989.95. This trade represents a 7.84 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.10% of the company’s stock.

NIKE Stock Performance

Shares of NIKE stock opened at $74.60 on Thursday. The stock has a market cap of $110.34 billion, a PE ratio of 23.02, a price-to-earnings-growth ratio of 2.50 and a beta of 1.01. The business has a fifty day simple moving average of $75.53 and a 200-day simple moving average of $78.12. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a 12 month low of $70.32 and a 12 month high of $107.43.

NIKE (NYSE:NKE) last issued its 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. The business had revenue of $12.35 billion during 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%. NIKE’s revenue was down 7.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.03 earnings per share. On average, sell-side analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were given a dividend of $0.40 per share. This is a boost from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.14%. NIKE’s dividend payout ratio (DPR) is presently 49.38%.

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.