Yousif Capital Management LLC Cuts Stock Position in NIKE, Inc. (NYSE:NKE)

Yousif Capital Management LLC cut its stake in shares of NIKE, Inc. (NYSE:NKE) by 2.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 161,290 shares of the footwear maker’s stock after selling 4,390 shares during the quarter. Yousif Capital Management LLC’s holdings in NIKE were worth $12,205,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

Several brokerages have commented on NKE. Morgan Stanley decreased their target price on shares of NIKE from $80.00 to $74.00 and set an “equal weight” rating on the stock in a research report on Friday, December 20th. JPMorgan Chase & Co. decreased their price objective 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. Truist Financial dropped 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. Stifel Nicolaus lowered their price target on NIKE from $79.00 to $75.00 and set a “hold” rating on the stock in a report on Friday, December 20th. Finally, Piper Sandler raised NIKE from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $72.00 to $90.00 in a report on Friday, January 10th. Fourteen research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $89.77.

NIKE Price Performance

NKE opened at $74.60 on Thursday. NIKE, Inc. has a 1 year low of $70.32 and a 1 year high of $107.43. The company’s 50 day simple moving average is $75.53 and its 200 day simple moving average is $78.12. The stock has a market capitalization of $110.34 billion, a PE ratio of 23.02, a P/E/G ratio of 2.50 and a beta of 1.01. 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 announced its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.15. The company had revenue of $12.35 billion during the quarter, compared to analysts’ expectations of $12.11 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The business’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.03 EPS. As a group, sell-side analysts expect that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Increases Dividend

The company also recently disclosed 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 2.14%. This is an increase from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date was Monday, December 2nd. NIKE’s dividend payout ratio (DPR) is 49.38%.

Insider Transactions at NIKE

In related news, Director John W. Rogers, Jr. acquired 2,500 shares of the business’s stock in a transaction on Friday, December 27th. The shares were bought 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 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 position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.10% of the company’s stock.

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.