Adirondack Trust Co. Reduces Position in NIKE, Inc. (NYSE:NKE)

Adirondack Trust Co. reduced its stake in shares of NIKE, Inc. (NYSE:NKE) by 20.4% in the fourth quarter, Holdings Channel reports. The firm owned 3,911 shares of the footwear maker’s stock after selling 1,005 shares during the period. Adirondack Trust Co.’s holdings in NIKE were worth $296,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in NKE. Teachers Insurance & Annuity Association of America purchased a new stake in shares of NIKE during the third quarter worth approximately $30,000. VitalStone Financial LLC lifted its position in NIKE by 52.6% in the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock worth $38,000 after purchasing an additional 150 shares during the period. Dunhill Financial LLC boosted its position 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 acquired a new stake in shares of NIKE in the second quarter valued at about $49,000. Finally, Riverview Trust Co acquired a new stake in shares of NIKE during the third quarter worth approximately $52,000. 64.25% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

NKE has been the subject of several research reports. Truist Financial lowered their price objective on shares of NIKE from $97.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Telsey Advisory Group lowered shares of NIKE from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $93.00 to $80.00 in a report on Friday, December 20th. Evercore ISI reduced their price objective on NIKE from $105.00 to $97.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. Wells Fargo & Company dropped their target price on NIKE from $95.00 to $92.00 and set an “overweight” rating for the company in a research report on Monday, December 16th. Finally, Piper Sandler upgraded NIKE from a “neutral” rating to an “overweight” rating and raised their price target for the company 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 stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $89.96.

NIKE Trading Up 1.2 %

Shares of NYSE:NKE opened at $74.07 on Thursday. The firm has a market capitalization of $109.56 billion, a price-to-earnings ratio of 22.86, a price-to-earnings-growth ratio of 2.33 and a beta of 1.02. The business’s 50 day moving average price is $75.54 and its 200-day moving average price is $77.88. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. NIKE, Inc. has a 1 year low of $70.32 and a 1 year high of $107.43.

NIKE (NYSE:NKE) last released its earnings results on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.15. The business 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 company’s quarterly revenue was down 7.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.03 earnings per share. On average, equities research analysts forecast that NIKE, Inc. will post 2.1 earnings per share for the current fiscal year.

NIKE Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were paid a $0.40 dividend. The ex-dividend date was Monday, December 2nd. This is a positive change from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.16%. NIKE’s payout ratio is currently 49.38%.

Insider Transactions at NIKE

In other news, Director John W. Rogers, Jr. acquired 2,500 shares of NIKE stock in a transaction on Friday, December 27th. The stock was bought at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the purchase, the director now owns 34,403 shares in the company, valued at $2,636,989.95. This represents a 7.84 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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.