NIKE, Inc. (NYSE:NKE) Shares Sold by Diversify Advisory Services LLC

Diversify Advisory Services LLC trimmed its holdings in shares of NIKE, Inc. (NYSE:NKE) by 72.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 8,623 shares of the footwear maker’s stock after selling 22,511 shares during the quarter. Diversify Advisory Services LLC’s holdings in NIKE were worth $614,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. City Holding Co. boosted its holdings in shares of NIKE by 5.4% in the fourth quarter. City Holding Co. now owns 21,106 shares of the footwear maker’s stock valued at $1,597,000 after acquiring an additional 1,087 shares in the last quarter. Ellsworth Advisors LLC raised its position in NIKE by 55.1% in the fourth quarter. Ellsworth Advisors LLC now owns 29,729 shares of the footwear maker’s stock worth $2,250,000 after acquiring an additional 10,567 shares in the last quarter. Grove Bank & Trust lifted its holdings in NIKE by 3.9% in the 4th quarter. Grove Bank & Trust now owns 4,310 shares of the footwear maker’s stock valued at $326,000 after acquiring an additional 163 shares during the last quarter. Ballast Inc. boosted its position in shares of NIKE by 22.4% during the 4th quarter. Ballast Inc. now owns 17,255 shares of the footwear maker’s stock valued at $1,306,000 after purchasing an additional 3,159 shares in the last quarter. Finally, Clarius Group LLC grew its stake in shares of NIKE by 6.0% in the 4th quarter. Clarius Group LLC now owns 8,054 shares of the footwear maker’s stock worth $609,000 after purchasing an additional 457 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors.

Insider Transactions at NIKE

In other NIKE news, Director John W. Rogers, Jr. purchased 2,500 shares of the firm’s stock in a transaction that occurred on Friday, December 27th. The shares were acquired at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the transaction, 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 purchase was disclosed in a filing with the SEC, which is available through this link. Company insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Truist Financial reduced their target price 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. DA Davidson upgraded NIKE to a “strong-buy” rating in a report on Monday, December 23rd. Piper Sandler raised NIKE from a “neutral” rating to an “overweight” rating and upped their target price for the company from $72.00 to $90.00 in a report on Friday, January 10th. Wells Fargo & Company decreased their price objective on shares of NIKE from $95.00 to $92.00 and set an “overweight” rating for the company in a research note on Monday, December 16th. Finally, UBS Group reissued a “neutral” rating and set a $73.00 target price on shares of NIKE in a research note on Thursday, December 26th. Fourteen research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $89.96.

NIKE Trading Up 3.4 %

Shares of NKE stock opened at $73.22 on Wednesday. The stock has a market cap of $108.30 billion, a price-to-earnings ratio of 22.60, a P/E/G ratio of 2.25 and a beta of 1.02. The firm has a fifty day moving average of $75.66 and a 200-day moving average of $77.92. NIKE, Inc. has a 52-week low of $70.32 and a 52-week high of $107.43. 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 (NYSE:NKE) last released its quarterly earnings data 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. The company had revenue of $12.35 billion for the quarter, compared to the consensus estimate of $12.11 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The company’s quarterly revenue was down 7.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.03 earnings per share. On average, equities research analysts forecast that NIKE, Inc. will post 2.1 earnings per share for the current fiscal year.

NIKE Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.19%. This is a boost from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date was Monday, December 2nd. NIKE’s dividend payout ratio is currently 49.38%.

NIKE Company 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.