NIKE, Inc. (NYSE:NKE) Stake Lessened by Pacific Capital Wealth Advisors Inc.

Pacific Capital Wealth Advisors Inc. reduced its position in NIKE, Inc. (NYSE:NKE) by 8.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 1,570 shares of the footwear maker’s stock after selling 150 shares during the quarter. Pacific Capital Wealth Advisors Inc.’s holdings in NIKE were worth $119,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Creative Planning increased its stake in NIKE by 7.1% in the second quarter. Creative Planning now owns 547,242 shares of the footwear maker’s stock valued at $41,246,000 after acquiring an additional 36,290 shares during the period. Sunbelt Securities Inc. increased its holdings in NIKE by 5.9% in the second quarter. Sunbelt Securities Inc. now owns 3,615 shares of the footwear maker’s stock valued at $272,000 after purchasing an additional 203 shares during the last quarter. Wallace Advisory Group LLC raised its holdings in NIKE by 44.8% in the second quarter. Wallace Advisory Group LLC now owns 5,539 shares of the footwear maker’s stock worth $417,000 after purchasing an additional 1,715 shares during the period. Invst LLC raised its position in shares of NIKE by 3.3% during the second quarter. Invst LLC now owns 18,004 shares of the footwear maker’s stock worth $1,383,000 after purchasing an additional 579 shares during the period. Finally, Quarry LP lifted its stake in NIKE by 55.7% in the second quarter. Quarry LP now owns 1,517 shares of the footwear maker’s stock valued at $114,000 after buying an additional 543 shares in the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on NKE. Morgan Stanley cut their target price on NIKE from $80.00 to $74.00 and set an “equal weight” rating on the stock in a research note on Friday, December 20th. TD Cowen reduced their price objective on shares of NIKE from $78.00 to $73.00 and set a “hold” rating for the company in a research report on Monday, November 18th. JPMorgan Chase & Co. decreased their price target on shares of NIKE from $77.00 to $73.00 and set a “neutral” rating on the stock in a research note on Monday, December 2nd. Stifel Nicolaus lowered their price objective on NIKE from $79.00 to $75.00 and set a “hold” rating on the stock in a research note on Friday, December 20th. Finally, Piper Sandler upgraded shares of NIKE from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $72.00 to $90.00 in a research report on Friday, January 10th. Fourteen equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, NIKE has a consensus rating of “Moderate Buy” and a consensus price target of $89.96.

Insider Activity

In related news, Director John W. Rogers, Jr. acquired 2,500 shares of the stock in a transaction dated Friday, December 27th. The stock was acquired at an average cost of $76.65 per share, with a total value of $191,625.00. Following the completion of the transaction, the director now owns 34,403 shares in the company, valued at $2,636,989.95. This represents a 7.84 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.10% of the company’s stock.

NIKE Price Performance

Shares of NYSE NKE opened at $75.69 on Tuesday. The firm has a market cap of $111.96 billion, a P/E ratio of 23.36, a P/E/G ratio of 2.36 and a beta of 1.02. The business’s 50 day moving average price is $75.45 and its 200 day moving average price is $77.94. NIKE, Inc. has a 52 week low of $70.32 and a 52 week high of $107.43. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.15. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The business had revenue of $12.35 billion during the quarter, compared to the consensus estimate of $12.11 billion. During the same quarter in the prior year, the firm posted $1.03 earnings per share. The company’s revenue was down 7.7% compared to the same quarter last year. On average, sell-side analysts expect that NIKE, Inc. will post 2.1 earnings per share for the current year.

NIKE Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were given a dividend of $0.40 per share. The ex-dividend date was Monday, December 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.11%. This is a boost from NIKE’s previous quarterly dividend of $0.37. NIKE’s dividend payout ratio (DPR) is presently 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.