Bank of Montreal Can Sells 57,330 Shares of NIKE, Inc. (NYSE:NKE)

Bank of Montreal Can trimmed its holdings in shares of NIKE, Inc. (NYSE:NKE) by 2.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,498,566 shares of the footwear maker’s stock after selling 57,330 shares during the period. Bank of Montreal Can’s holdings in NIKE were worth $189,067,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the stock. JNBA Financial Advisors boosted its holdings in shares of NIKE by 1.3% in the 4th quarter. JNBA Financial Advisors now owns 10,045 shares of the footwear maker’s stock valued at $760,000 after buying an additional 131 shares in the last quarter. Frisch Financial Group Inc. lifted its position in NIKE by 4.7% during the third quarter. Frisch Financial Group Inc. now owns 3,036 shares of the footwear maker’s stock valued at $269,000 after acquiring an additional 136 shares during the last quarter. Nations Financial Group Inc. IA ADV boosted its stake in NIKE by 0.7% in the fourth quarter. Nations Financial Group Inc. IA ADV now owns 20,446 shares of the footwear maker’s stock valued at $1,547,000 after acquiring an additional 136 shares in the last quarter. GAMMA Investing LLC grew its holdings in NIKE by 1.0% in the fourth quarter. GAMMA Investing LLC now owns 15,014 shares of the footwear maker’s stock worth $1,136,000 after purchasing an additional 150 shares during the last quarter. Finally, Game Plan Financial Advisors LLC increased its position in shares of NIKE by 11.1% during the fourth quarter. Game Plan Financial Advisors LLC now owns 1,500 shares of the footwear maker’s stock worth $114,000 after purchasing an additional 150 shares in the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Stock Down 2.9 %

Shares of NIKE stock opened at $55.62 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 1 year low of $52.50 and a 1 year high of $98.04. The stock has a 50-day moving average price of $72.55 and a 200 day moving average price of $76.09. The company has a market cap of $82.26 billion, a P/E ratio of 17.17, a P/E/G ratio of 2.52 and a beta of 1.15.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.26. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The business 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. NIKE’s revenue for the quarter was down 9.1% compared to the same quarter last year. As a group, analysts expect that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.88%. The ex-dividend date was Monday, March 3rd. NIKE’s payout ratio is 53.16%.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Robert W. Baird decreased their price target on NIKE from $105.00 to $99.00 and set an “outperform” rating for the company in a research note on Friday, March 21st. Truist Financial lowered their target price on shares of NIKE from $90.00 to $82.00 and set a “buy” rating for the company in a research note on Friday, March 21st. China Renaissance assumed coverage on shares of NIKE in a research note on Wednesday, March 19th. They set a “hold” rating on the stock. Needham & Company LLC lowered their price objective on shares of NIKE from $84.00 to $80.00 and set a “buy” rating for the company in a research note on Monday, March 17th. Finally, Telsey Advisory Group reissued a “market perform” rating and issued a $80.00 target price on shares of NIKE in a research report on Monday, March 17th. Fifteen investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $87.38.

Insider Buying and Selling at NIKE

In other NIKE news, Chairman Mark G. Parker sold 169,732 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Robert Holmes Swan bought 8,600 shares of the stock in a transaction that occurred on Friday, April 4th. The stock was purchased at an average price of $58.46 per share, for a total transaction of $502,756.00. Following the completion of the purchase, the director now directly owns 31,983 shares in the company, valued at $1,869,726.18. The trade was a 36.78 % increase in their position. The disclosure for this purchase can be found here. Corporate 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.