Lake Street Advisors Group LLC Sells 281 Shares of NIKE, Inc. (NYSE:NKE)

Lake Street Advisors Group LLC decreased its stake in NIKE, Inc. (NYSE:NKE) by 3.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,045 shares of the footwear maker’s stock after selling 281 shares during the period. Lake Street Advisors Group LLC’s holdings in NIKE were worth $612,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Kirtland Hills Capital Management LLC lifted its stake in NIKE by 33.9% during the fourth quarter. Kirtland Hills Capital Management LLC now owns 19,038 shares of the footwear maker’s stock worth $1,441,000 after purchasing an additional 4,819 shares during the last quarter. Gray Foundation purchased a new position in shares of NIKE during the 4th quarter valued at about $545,000. Illinois Municipal Retirement Fund lifted its position in NIKE by 2.7% in the 4th quarter. Illinois Municipal Retirement Fund now owns 149,644 shares of the footwear maker’s stock worth $11,324,000 after buying an additional 3,995 shares during the last quarter. Los Angeles Capital Management LLC boosted its stake in NIKE by 0.5% in the fourth quarter. Los Angeles Capital Management LLC now owns 104,494 shares of the footwear maker’s stock worth $7,907,000 after buying an additional 513 shares in the last quarter. Finally, FourThought Financial Partners LLC purchased a new stake in NIKE in the fourth quarter worth approximately $332,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Stock Down 1.6 %

Shares of NIKE stock opened at $79.86 on Friday. NIKE, Inc. has a 1 year low of $68.62 and a 1 year high of $105.57. The firm has a market cap of $118.13 billion, a price-to-earnings ratio of 24.65, a PEG ratio of 2.52 and a beta of 1.01. The company has a 50-day moving average of $74.59 and a 200 day moving average of $78.29. 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 (NYSE:NKE) last announced its 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. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The business had revenue of $12.35 billion during the quarter, compared to the consensus estimate of $12.11 billion. During the same quarter last year, the firm earned $1.03 earnings per share. The business’s revenue for the quarter was down 7.7% on a year-over-year basis. As a group, sell-side analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend is Monday, March 3rd. NIKE’s dividend payout ratio (DPR) is 49.38%.

Analyst Ratings Changes

NKE has been the subject of a number of recent research reports. TD Cowen lowered their price objective on shares of NIKE from $78.00 to $73.00 and set a “hold” rating for the company in a report on Monday, November 18th. Piper Sandler raised shares of 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 note on Friday, January 10th. DA Davidson raised NIKE to a “strong-buy” rating in a research note on Monday, December 23rd. JPMorgan Chase & Co. lowered their target price on NIKE from $77.00 to $73.00 and set a “neutral” rating for the company in a research note on Monday, December 2nd. Finally, Truist Financial reduced their price target on NIKE from $97.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Fourteen investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $89.77.

Insider Transactions at NIKE

In related news, Chairman Mark G. Parker sold 169,732 shares of the stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the sale, the chairman now directly owns 896,632 shares of the company’s stock, valued at approximately $65,301,708.56. This represents a 15.92 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John W. Rogers, Jr. purchased 2,500 shares of the business’s stock in a transaction dated Friday, December 27th. The shares were purchased at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the acquisition, 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 disclosure for this purchase can be found here. 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.