Corient Private Wealth LLC Cuts Position in NIKE, Inc. (NYSE:NKE)

Corient Private Wealth LLC trimmed its holdings in shares of NIKE, Inc. (NYSE:NKE) by 17.7% in the fourth quarter, HoldingsChannel.com reports. The fund owned 793,756 shares of the footwear maker’s stock after selling 170,717 shares during the period. Corient Private Wealth LLC’s holdings in NIKE were worth $60,183,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Harbour Investments Inc. increased its holdings in NIKE by 6.6% during the third quarter. Harbour Investments Inc. now owns 5,749 shares of the footwear maker’s stock worth $508,000 after buying an additional 357 shares during the last quarter. Curi RMB Capital LLC grew its position in shares of NIKE by 9.6% during the 3rd quarter. Curi RMB Capital LLC now owns 6,765 shares of the footwear maker’s stock valued at $598,000 after acquiring an additional 591 shares during the period. OneDigital Investment Advisors LLC increased its stake in shares of NIKE by 7.8% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 16,792 shares of the footwear maker’s stock worth $1,484,000 after purchasing an additional 1,217 shares during the last quarter. Empowered Funds LLC raised its holdings in shares of NIKE by 10.7% in the 3rd quarter. Empowered Funds LLC now owns 23,214 shares of the footwear maker’s stock worth $2,052,000 after purchasing an additional 2,243 shares during the period. Finally, Sather Financial Group Inc lifted its stake in NIKE by 9.8% in the third quarter. Sather Financial Group Inc now owns 441,625 shares of the footwear maker’s stock valued at $39,040,000 after purchasing an additional 39,337 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director John W. Rogers, Jr. purchased 2,500 shares of the business’s stock in a transaction on Friday, December 27th. The shares were acquired at an average price of $76.65 per share, with a total value of $191,625.00. Following the acquisition, the director now directly owns 34,403 shares in the company, valued at approximately $2,636,989.95. The trade was a 7.84 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Mark G. Parker sold 169,732 shares of the business’s 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 completion of the transaction, the chairman now owns 896,632 shares in the company, valued at $65,301,708.56. The trade was a 15.92 % decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have issued reports on NKE shares. Needham & Company LLC reissued a “buy” rating and issued a $84.00 target price on shares of NIKE in a research report on Friday, February 7th. BMO Capital Markets lifted their price objective on shares of NIKE from $92.00 to $95.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd. DA Davidson upgraded NIKE to a “strong-buy” rating in a research report on Monday, December 23rd. 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. Finally, Piper Sandler raised NIKE from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $72.00 to $90.00 in a report on Friday, January 10th. Fourteen investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $89.69.

NIKE Price Performance

Shares of NIKE stock opened at $71.72 on Monday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. NIKE, Inc. has a 52-week low of $68.62 and a 52-week high of $101.92. The company has a fifty day moving average of $74.68 and a 200-day moving average of $77.77. The stock has a market capitalization of $106.08 billion, a price-to-earnings ratio of 22.14, a price-to-earnings-growth ratio of 2.52 and a beta of 1.02.

NIKE (NYSE:NKE) last posted 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 during the quarter, compared to the consensus estimate of $12.11 billion. During the same period in the previous year, the firm posted $1.03 earnings per share. The firm’s revenue for the quarter was down 7.7% on a year-over-year basis. Equities research analysts expect that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.60 annualized dividend and a yield of 2.23%. 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.