Congress Wealth Management LLC DE Sells 106,464 Shares of NIKE, Inc. (NYSE:NKE)

Congress Wealth Management LLC DE cut its holdings in NIKE, Inc. (NYSE:NKE) by 94.6% during the 4th quarter, Holdings Channel reports. The fund owned 6,022 shares of the footwear maker’s stock after selling 106,464 shares during the period. Congress Wealth Management LLC DE’s holdings in NIKE were worth $456,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of NKE. Healthcare of Ontario Pension Plan Trust Fund increased its position in NIKE by 35.6% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 104,300 shares of the footwear maker’s stock worth $9,220,000 after buying an additional 27,400 shares in the last quarter. CreativeOne Wealth LLC increased its holdings in NIKE by 13.5% in the 3rd quarter. CreativeOne Wealth LLC now owns 21,978 shares of the footwear maker’s stock worth $1,943,000 after acquiring an additional 2,612 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in NIKE by 4.7% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 548,318 shares of the footwear maker’s stock worth $48,471,000 after acquiring an additional 24,614 shares during the period. Public Sector Pension Investment Board boosted its position in shares of NIKE by 9.7% in the third quarter. Public Sector Pension Investment Board now owns 51,000 shares of the footwear maker’s stock worth $4,508,000 after purchasing an additional 4,500 shares during the period. Finally, Carl P. Sherr & Co. LLC increased its stake in shares of NIKE by 101.8% in the third quarter. Carl P. Sherr & Co. LLC now owns 20,112 shares of the footwear maker’s stock worth $1,778,000 after purchasing an additional 10,147 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on NKE. Piper Sandler raised shares of NIKE from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $72.00 to $90.00 in a report on Friday, January 10th. Dbs Bank raised NIKE from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. Cfra Research raised NIKE to a “moderate buy” rating in a research note on Friday, March 21st. Wells Fargo & Company dropped their price target on NIKE from $90.00 to $85.00 and set an “overweight” rating for the company in a research note on Friday, March 21st. Finally, Evercore ISI reduced their price objective on shares of NIKE from $105.00 to $97.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. Fifteen analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $87.38.

Insider Transactions at NIKE

In related news, Chairman Mark G. Parker sold 169,732 shares of NIKE stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the completion of the sale, the chairman now owns 896,632 shares in the company, valued at $65,301,708.56. This trade represents a 15.92 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 1.10% of the company’s stock.

NIKE Stock Performance

Shares of NYSE:NKE opened at $63.32 on Friday. 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 $63.14 and a 12 month high of $98.04. The company has a market capitalization of $93.65 billion, a price-to-earnings ratio of 19.54, a PEG ratio of 2.52 and a beta of 1.02. The firm’s 50-day moving average is $74.16 and its 200 day moving average is $76.94.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.26. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The firm had revenue of $11.27 billion for the quarter, compared to the consensus estimate of $11.02 billion. During the same period in the prior year, the business posted $0.98 earnings per share. The company’s revenue for the quarter was down 9.1% on a year-over-year basis. Research analysts predict that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date is Monday, March 3rd. NIKE’s dividend payout ratio is currently 53.16%.

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.