RNC Capital Management LLC Sells 1,380 Shares of NIKE, Inc. (NYSE:NKE)

RNC Capital Management LLC trimmed its position in shares of NIKE, Inc. (NYSE:NKE) by 19.6% in the 4th quarter, HoldingsChannel.com reports. The fund owned 5,654 shares of the footwear maker’s stock after selling 1,380 shares during the quarter. RNC Capital Management LLC’s holdings in NIKE were worth $428,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of NKE. Heck Capital Advisors LLC bought a new position in shares of NIKE during the fourth quarter valued at about $28,000. Caitlin John LLC raised its stake in shares of NIKE by 117.0% during the fourth quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock valued at $28,000 after acquiring an additional 200 shares during the last quarter. Teachers Insurance & Annuity Association of America bought a new position in shares of NIKE during the third quarter valued at about $30,000. VitalStone Financial LLC raised its stake in NIKE by 52.6% in 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 raised its stake in NIKE by 52.2% in 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. 64.25% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on NKE. UBS Group reissued a “neutral” rating and issued a $73.00 price target on shares of NIKE in a research note on Thursday, December 26th. Bank of America decreased their price target on shares of NIKE from $95.00 to $90.00 and set a “buy” rating for the company 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 for the company in a research note on Friday, December 20th. Needham & Company LLC reissued a “buy” rating and issued a $84.00 price target on shares of NIKE in a research note on Friday, December 20th. Finally, Piper Sandler upgraded shares of NIKE from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $72.00 to $90.00 in a report on Friday, January 10th. Fourteen 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 company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $89.77.

Insiders Place Their Bets

In other NIKE news, Director John W. Rogers, Jr. purchased 2,500 shares of the firm’s stock in a transaction on Friday, December 27th. The shares were acquired at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the transaction, the director now 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 ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.10% of the company’s stock.

NIKE Stock Down 3.8 %

NKE opened at $71.75 on Friday. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a 1-year low of $70.32 and a 1-year high of $107.43. The company has a market capitalization of $106.13 billion, a PE ratio of 22.15, a PEG ratio of 2.50 and a beta of 1.01. The firm’s 50 day simple moving average is $75.45 and its two-hundred day simple moving average is $78.10.

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. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The business had revenue of $12.35 billion for the quarter, compared to the consensus estimate of $12.11 billion. During the same period last year, the firm earned $1.03 earnings per share. The company’s quarterly revenue was down 7.7% on a year-over-year basis. As a group, equities analysts forecast that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were given a $0.40 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This is an increase from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a yield of 2.23%. 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.