NIKE, Inc. (NYSE:NKE) Shares Sold by Tributary Capital Management LLC

Tributary Capital Management LLC lessened its stake in shares of NIKE, Inc. (NYSE:NKE) by 6.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,255 shares of the footwear maker’s stock after selling 300 shares during the quarter. Tributary Capital Management LLC’s holdings in NIKE were worth $322,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. State Street Corp lifted its holdings in NIKE by 3.3% in the 3rd quarter. State Street Corp now owns 57,916,789 shares of the footwear maker’s stock valued at $5,140,796,000 after purchasing an additional 1,862,021 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of NIKE by 5.1% during the third quarter. Wellington Management Group LLP now owns 27,442,145 shares of the footwear maker’s stock worth $2,425,886,000 after purchasing an additional 1,343,093 shares during the last quarter. Geode Capital Management LLC grew its position in shares of NIKE by 1.0% in the third quarter. Geode Capital Management LLC now owns 25,029,380 shares of the footwear maker’s stock valued at $2,204,451,000 after purchasing an additional 251,411 shares during the period. Fisher Asset Management LLC boosted its stake in NIKE by 6.0% in the 3rd quarter. Fisher Asset Management LLC now owns 10,303,182 shares of the footwear maker’s stock worth $910,801,000 after buying an additional 583,207 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of NIKE by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 8,602,534 shares of the footwear maker’s stock valued at $760,716,000 after acquiring an additional 117,187 shares during the last quarter. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

NIKE Price Performance

Shares of NKE stock opened at $73.60 on Friday. The firm has a fifty day moving average of $75.45 and a two-hundred day moving average of $77.86. The firm has a market cap of $108.86 billion, a P/E ratio of 22.72, a P/E/G ratio of 2.36 and a beta of 1.02. NIKE, Inc. has a 1-year low of $70.32 and a 1-year high of $107.43. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.15. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The business had revenue of $12.35 billion during the quarter, compared to the consensus estimate of $12.11 billion. During the same period last year, the firm earned $1.03 earnings per share. The company’s revenue for the quarter was down 7.7% compared to the same quarter last year. As a group, research analysts anticipate that NIKE, Inc. will post 2.1 earnings per share for the current fiscal year.

NIKE Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.17%. This is an increase from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Monday, December 2nd. NIKE’s payout ratio is 49.38%.

Insider Activity at NIKE

In other NIKE news, Director John W. Rogers, Jr. bought 2,500 shares of the stock in a transaction 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 completion of the purchase, the director now directly owns 34,403 shares in the company, valued at approximately $2,636,989.95. This trade represents a 7.84 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

NKE has been the subject of a number of recent analyst reports. Bank of America lowered their target price on shares of NIKE from $95.00 to $90.00 and set a “buy” rating for the company in a report on Friday, December 20th. Piper Sandler upgraded 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. Needham & Company LLC reaffirmed a “buy” rating and issued a $84.00 price objective on shares of NIKE in a research note on Friday, December 20th. Morgan Stanley dropped their target price on shares of NIKE from $80.00 to $74.00 and set an “equal weight” rating for the company in a research report on Friday, December 20th. Finally, Truist Financial reduced their price target on shares of NIKE from $97.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Fourteen analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $89.96.

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.