Tobam Has $102,000 Stake in NIKE, Inc. (NYSE:NKE)

Tobam cut its stake in NIKE, Inc. (NYSE:NKE) by 39.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,353 shares of the footwear maker’s stock after selling 871 shares during the period. Tobam’s holdings in NIKE were worth $102,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Garrison Point Advisors LLC grew its holdings in shares of NIKE by 1.9% during the third quarter. Garrison Point Advisors LLC now owns 6,704 shares of the footwear maker’s stock worth $593,000 after buying an additional 126 shares in the last quarter. Stephens Consulting LLC boosted its position in NIKE by 20.0% during the 3rd quarter. Stephens Consulting LLC now owns 768 shares of the footwear maker’s stock worth $68,000 after acquiring an additional 128 shares during the last quarter. PSI Advisors LLC grew its stake in shares of NIKE by 26.3% during the 3rd quarter. PSI Advisors LLC now owns 624 shares of the footwear maker’s stock worth $55,000 after acquiring an additional 130 shares in the last quarter. Meridian Financial Partners LLC raised its holdings in shares of NIKE by 1.6% in the third quarter. Meridian Financial Partners LLC now owns 8,396 shares of the footwear maker’s stock valued at $742,000 after purchasing an additional 133 shares during the last quarter. Finally, Frisch Financial Group Inc. lifted its position in shares of NIKE by 4.7% in the third quarter. Frisch Financial Group Inc. now owns 3,036 shares of the footwear maker’s stock worth $269,000 after purchasing an additional 136 shares in the last quarter. Institutional investors own 64.25% of the company’s stock.

Analyst Ratings Changes

NKE has been the topic of several recent research reports. Truist Financial lowered 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. Royal Bank of Canada lowered their target price on NIKE from $82.00 to $80.00 and set a “sector perform” rating on the stock in a research report on Thursday, November 7th. Wells Fargo & Company reduced their price target on NIKE from $95.00 to $92.00 and set an “overweight” rating for the company in a research report on Monday, December 16th. Piper Sandler raised NIKE from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $72.00 to $90.00 in a research report on Friday, January 10th. Finally, Evercore ISI cut their price objective on NIKE from $105.00 to $97.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Fifteen investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, NIKE has a consensus rating of “Moderate Buy” and a consensus target price of $88.62.

Insider Activity at NIKE

In other news, Director John W. Rogers, Jr. acquired 2,500 shares of the firm’s stock in a transaction that occurred on Friday, December 27th. The shares were acquired at an average cost of $76.65 per share, with a total value of $191,625.00. Following the completion of the purchase, the director now directly owns 34,403 shares of the company’s stock, valued at $2,636,989.95. The trade was a 7.84 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.10% of the stock is owned by insiders.

NIKE Price Performance

NYSE:NKE opened at $68.69 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. The firm has a market cap of $101.60 billion, a price-to-earnings ratio of 21.20, a P/E/G ratio of 2.50 and a beta of 1.01. NIKE, Inc. has a 52 week low of $68.62 and a 52 week high of $107.43. The firm’s 50-day simple moving average is $75.32 and its 200 day simple moving average is $78.05.

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, beating analysts’ consensus estimates of $0.63 by $0.15. The company had revenue of $12.35 billion during the quarter, compared to the consensus estimate of $12.11 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The firm’s quarterly revenue was down 7.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.03 earnings per share. As a group, sell-side analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were given a $0.40 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.33%. This is a boost from NIKE’s previous quarterly dividend of $0.37. NIKE’s dividend payout ratio (DPR) 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.