Buffington Mohr McNeal Reduces Holdings in NIKE, Inc. (NYSE:NKE)

Buffington Mohr McNeal cut its stake in shares of NIKE, Inc. (NYSE:NKE) by 22.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,261 shares of the footwear maker’s stock after selling 2,900 shares during the period. Buffington Mohr McNeal’s holdings in NIKE were worth $776,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Teachers Insurance & Annuity Association of America purchased a new position in shares of NIKE during the 3rd quarter valued at about $30,000. VitalStone Financial LLC raised its stake in NIKE by 52.6% during the 3rd quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock worth $38,000 after acquiring an additional 150 shares during the period. Dunhill Financial LLC raised its stake in NIKE by 52.2% during the 3rd quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock worth $44,000 after acquiring an additional 169 shares during the period. Ecofi Investissements SA purchased a new position in NIKE during the second quarter valued at approximately $49,000. Finally, Riverview Trust Co bought a new position in shares of NIKE in the third quarter worth approximately $52,000. Institutional investors own 64.25% of the company’s stock.

Insider Buying and Selling

In other news, Director John W. Rogers, Jr. acquired 2,500 shares of the company’s stock in a transaction dated 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 purchase, the director now directly 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 accessible through this hyperlink. 1.10% of the stock is owned by corporate insiders.

NIKE Stock Performance

NKE opened at $75.69 on Tuesday. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a 12-month low of $70.32 and a 12-month high of $107.43. The firm has a 50 day moving average of $75.45 and a two-hundred day moving average of $77.94. The firm has a market capitalization of $111.96 billion, a PE ratio of 23.36, a P/E/G ratio of 2.36 and a beta of 1.02.

NIKE (NYSE:NKE) last issued its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) 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 firm had revenue of $12.35 billion during the quarter, compared to analysts’ expectations of $12.11 billion. During the same quarter last year, the company posted $1.03 earnings per share. The firm’s revenue was down 7.7% compared to the same quarter last year. On average, analysts anticipate that NIKE, Inc. will post 2.1 EPS for the current year.

NIKE Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were paid a $0.40 dividend. This is an increase from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.11%. NIKE’s dividend payout ratio is presently 49.38%.

Analyst Ratings Changes

Several brokerages recently issued reports on NKE. Royal Bank of Canada decreased their target price on NIKE from $82.00 to $80.00 and set a “sector perform” rating on the stock in a research note on Thursday, November 7th. JPMorgan Chase & Co. reduced their price objective on shares of NIKE from $77.00 to $73.00 and set a “neutral” rating on the stock in a research report on Monday, December 2nd. Needham & Company LLC reaffirmed a “buy” rating and set a $84.00 target price on shares of NIKE in a research note on Friday, December 20th. Robert W. Baird decreased their price target on NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a research note on Monday, December 23rd. Finally, Truist Financial cut their price objective on NIKE from $97.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Fourteen investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.