NIKE, Inc. (NYSE:NKE) Shares Sold by Regent Peak Wealth Advisors LLC

Regent Peak Wealth Advisors LLC trimmed its position in shares of NIKE, Inc. (NYSE:NKE) by 81.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,026 shares of the footwear maker’s stock after selling 17,582 shares during the period. Regent Peak Wealth Advisors LLC’s holdings in NIKE were worth $305,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in NKE. Cacti Asset Management LLC acquired a new stake in NIKE during the fourth quarter worth about $9,987,000. ING Groep NV acquired a new stake in NIKE during the 3rd quarter worth approximately $29,628,000. Confluence Investment Management LLC raised its holdings in NIKE by 6.3% in the fourth quarter. Confluence Investment Management LLC now owns 246,080 shares of the footwear maker’s stock valued at $18,621,000 after buying an additional 14,592 shares during the period. Cordatus Wealth Management LLC lifted its position in NIKE by 19.5% during the third quarter. Cordatus Wealth Management LLC now owns 41,510 shares of the footwear maker’s stock valued at $3,669,000 after buying an additional 6,778 shares in the last quarter. Finally, Everence Capital Management Inc. grew its stake in NIKE by 128.1% during the fourth quarter. Everence Capital Management Inc. now owns 24,680 shares of the footwear maker’s stock worth $1,868,000 after buying an additional 13,860 shares during the period. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Stock Performance

Shares of NYSE:NKE traded up $0.22 during trading on Tuesday, reaching $72.22. 5,383,675 shares of the company’s stock traded hands, compared to its average volume of 10,229,771. The stock has a market capitalization of $108.28 billion, a P/E ratio of 20.69, a price-to-earnings-growth ratio of 1.89 and a beta of 1.02. NIKE, Inc. has a 12 month low of $70.75 and a 12 month high of $107.43. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58. The company has a 50 day moving average of $76.77 and a 200-day moving average of $78.93.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, beating the consensus estimate of $0.63 by $0.15. The company had revenue of $12.35 billion for the quarter, compared to analyst estimates of $12.11 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. NIKE’s revenue was down 7.7% compared to the same quarter last year. During the same quarter last year, the business earned $1.03 earnings per share. On average, equities analysts expect that NIKE, Inc. will post 2.72 EPS for the current year.

NIKE Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date of this dividend was Monday, December 2nd. This is a positive change from NIKE’s previous quarterly dividend of $0.37. NIKE’s payout ratio is 49.38%.

Analysts Set New Price Targets

NKE has been the topic of several recent research reports. JPMorgan Chase & Co. reduced their target price on shares of NIKE from $77.00 to $73.00 and set a “neutral” rating on the stock in a report on Monday, December 2nd. Deutsche Bank Aktiengesellschaft decreased their target price on NIKE from $92.00 to $82.00 and set a “buy” rating for the company in a research report on Monday, December 16th. Truist Financial dropped their target price on NIKE from $97.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Piper Sandler restated a “neutral” rating and issued a $80.00 price target on shares of NIKE in a report on Friday, September 20th. Finally, Barclays dropped their price objective on shares of NIKE from $79.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Friday, December 20th. Fifteen research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $89.58.

Insider Transactions at NIKE

In related news, Director John W. Rogers, Jr. bought 2,500 shares of the firm’s stock in a transaction that occurred on Friday, December 27th. The stock was purchased at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the transaction, the director now directly owns 34,403 shares of the company’s stock, valued at approximately $2,636,989.95. This represents 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 hyperlink. 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.