Douglass Winthrop Advisors LLC Sells 2,625 Shares of NIKE, Inc. (NYSE:NKE)

Douglass Winthrop Advisors LLC lowered its position in NIKE, Inc. (NYSE:NKE) by 4.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 56,345 shares of the footwear maker’s stock after selling 2,625 shares during the period. Douglass Winthrop Advisors LLC’s holdings in NIKE were worth $4,264,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Heck Capital Advisors LLC bought a new position in shares of NIKE in the 4th quarter worth $28,000. Caitlin John LLC raised its holdings in NIKE by 117.0% during the fourth quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock worth $28,000 after buying an additional 200 shares during the last quarter. Teachers Insurance & Annuity Association of America bought a new position in shares of NIKE in the third quarter valued at $30,000. Roxbury Financial LLC acquired a new position in shares of NIKE during the fourth quarter valued at about $30,000. Finally, LFA Lugano Financial Advisors SA increased its position in shares of NIKE by 110.5% during the fourth quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker’s stock worth $30,000 after acquiring an additional 210 shares in the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Price Performance

Shares of NYSE NKE opened at $71.61 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. NIKE, Inc. has a fifty-two week low of $67.66 and a fifty-two week high of $101.92. The stock has a market cap of $105.92 billion, a PE ratio of 22.10, a price-to-earnings-growth ratio of 2.52 and a beta of 1.02. The stock has a fifty day moving average of $74.77 and a 200-day moving average of $77.56.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.26. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The firm had revenue of $11.27 billion for the quarter, compared to analysts’ expectations of $11.02 billion. During the same period in the prior year, the business posted $0.98 earnings per share. The company’s revenue was down 9.1% on a year-over-year basis. Equities research analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

The company also recently declared 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 2.23%. The ex-dividend date is Monday, March 3rd. NIKE’s payout ratio is 49.38%.

Wall Street Analysts Forecast Growth

NKE has been the subject of a number of analyst reports. Truist Financial cut their price target on NIKE from $97.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Morgan Stanley cut their target price on NIKE from $74.00 to $72.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 13th. UBS Group reissued a “neutral” rating and issued a $73.00 price target on shares of NIKE in a research report on Thursday, December 26th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of NIKE from $92.00 to $82.00 and set a “buy” rating on the stock in a report on Monday, December 16th. Finally, BMO Capital Markets increased their target price on shares of NIKE from $92.00 to $95.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. Fifteen research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $89.54.

Insider Activity

In other NIKE news, Director John W. Rogers, Jr. acquired 2,500 shares of the business’s stock in a transaction dated Friday, December 27th. The stock was bought at an average price of $76.65 per share, with a total value of $191,625.00. Following the completion of the acquisition, the director now owns 34,403 shares of the company’s stock, valued at $2,636,989.95. This trade represents a 7.84 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Chairman Mark G. Parker sold 169,732 shares of the firm’s stock in a transaction that occurred 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 sale, the chairman now directly owns 896,632 shares in the company, valued at $65,301,708.56. This represents a 15.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company 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.