Sound View Wealth Advisors Group LLC Has $406,000 Stock Position in NIKE, Inc. (NYSE:NKE)

Sound View Wealth Advisors Group LLC cut its stake in shares of NIKE, Inc. (NYSE:NKE) by 12.8% in the fourth quarter, Holdings Channel reports. The firm owned 5,366 shares of the footwear maker’s stock after selling 791 shares during the quarter. Sound View Wealth Advisors Group LLC’s holdings in NIKE were worth $406,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in NKE. Heck Capital Advisors LLC acquired a new position in shares of NIKE during the 4th quarter worth about $28,000. Caitlin John LLC boosted its stake in NIKE by 117.0% during the 4th quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock worth $28,000 after acquiring an additional 200 shares during the last quarter. Teachers Insurance & Annuity Association of America acquired a new position in NIKE during the third quarter valued at approximately $30,000. Roxbury Financial LLC acquired a new position in NIKE during the fourth quarter valued at approximately $30,000. Finally, BankPlus Trust Department bought a new stake in NIKE in the fourth quarter valued at approximately $34,000. Institutional investors own 64.25% of the company’s stock.

Insider Transactions at NIKE

In other NIKE news, Chairman Mark G. Parker sold 169,732 shares of NIKE stock in a transaction on 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 completion of the transaction, the chairman now directly owns 896,632 shares of the company’s stock, valued at $65,301,708.56. The trade was a 15.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John W. Rogers, Jr. acquired 2,500 shares of the company’s stock in a transaction dated Friday, December 27th. The stock was bought 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 directly owns 34,403 shares of the company’s stock, valued at approximately $2,636,989.95. This trade represents a 7.84 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on NKE shares. 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 report on Friday, December 20th. TD Cowen decreased their target price on NIKE from $78.00 to $73.00 and set a “hold” rating for the company in a research note on Monday, November 18th. Stifel Nicolaus lowered their price target on NIKE from $79.00 to $75.00 and set a “hold” rating for the company in a report on Friday, December 20th. Bank of America cut their price objective on NIKE from $95.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Finally, DA Davidson raised NIKE to a “strong-buy” rating in a research note on Monday, December 23rd. Fourteen research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, NIKE presently has a consensus rating of “Moderate Buy” and an average price target of $89.77.

NIKE Stock Performance

NYSE NKE opened at $76.35 on Tuesday. The firm has a market capitalization of $112.92 billion, a P/E ratio of 23.56, a price-to-earnings-growth ratio of 2.52 and a beta of 1.02. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. The firm’s fifty day moving average price is $74.80 and its two-hundred day moving average price is $78.09. NIKE, Inc. has a 1 year low of $68.62 and a 1 year high of $102.49.

NIKE (NYSE:NKE) last issued its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) 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 company had revenue of $12.35 billion for the quarter, compared to analysts’ expectations of $12.11 billion. During the same period in the prior year, the firm earned $1.03 EPS. NIKE’s quarterly revenue was down 7.7% compared to the same quarter last year. As a group, research analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be given a $0.40 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.10%. NIKE’s payout ratio is 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.