NIKE, Inc. (NYSE:NKE) Shares Sold by Community Trust & Investment Co.

Community Trust & Investment Co. decreased its holdings in NIKE, Inc. (NYSE:NKE) by 13.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 123,827 shares of the footwear maker’s stock after selling 19,355 shares during the quarter. Community Trust & Investment Co.’s holdings in NIKE were worth $9,370,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of NKE. Range Financial Group LLC acquired a new stake in shares of NIKE during the fourth quarter worth about $642,000. Cacti Asset Management LLC acquired a new stake in NIKE in the fourth quarter valued at about $9,987,000. FNY Investment Advisers LLC lifted its holdings in shares of NIKE by 5,745.9% in the 4th quarter. FNY Investment Advisers LLC now owns 8,652 shares of the footwear maker’s stock valued at $654,000 after buying an additional 8,504 shares during the period. ING Groep NV purchased a new position in shares of NIKE in the 3rd quarter valued at about $29,628,000. Finally, Confluence Investment Management LLC lifted its position in shares of NIKE by 6.3% during the 4th quarter. Confluence Investment Management LLC now owns 246,080 shares of the footwear maker’s stock valued at $18,621,000 after acquiring an additional 14,592 shares during the period. Institutional investors and hedge funds own 64.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. DA Davidson raised shares of NIKE to a “strong-buy” rating in a report on Monday, December 23rd. Piper Sandler upgraded NIKE from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $72.00 to $90.00 in a research note on Friday, January 10th. Guggenheim lowered their price objective on shares of NIKE from $115.00 to $110.00 and set a “buy” rating for the company in a research report on Wednesday, October 2nd. Royal Bank of Canada cut their target price on NIKE from $82.00 to $80.00 and set a “sector perform” rating on the stock in a research report on Thursday, November 7th. Finally, Stifel Nicolaus decreased their price target on NIKE from $79.00 to $75.00 and set a “hold” rating for the company in a research note on Friday, December 20th. Fourteen analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $89.96.

Insider Buying and Selling at NIKE

In other NIKE news, Director John W. Rogers, Jr. acquired 2,500 shares of the stock in a transaction that occurred on Friday, December 27th. The shares were bought at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the transaction, the director now owns 34,403 shares of the company’s stock, valued at approximately $2,636,989.95. This represents a 7.84 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.10% of the company’s stock.

NIKE Trading Down 1.4 %

NYSE NKE opened at $71.09 on Wednesday. The business’s fifty day moving average is $76.05 and its 200 day moving average is $78.06. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a twelve month low of $70.53 and a twelve month high of $107.43. The company has a market cap of $105.15 billion, a price-to-earnings ratio of 20.37, a price-to-earnings-growth ratio of 1.89 and a beta of 1.02.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.15. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The firm had revenue of $12.35 billion during the quarter, compared to analysts’ expectations of $12.11 billion. During the same period last year, the company earned $1.03 earnings per share. The business’s revenue was down 7.7% on a year-over-year basis. As a group, sell-side analysts expect that NIKE, Inc. will post 2.72 EPS for the current fiscal year.

NIKE Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were paid a $0.40 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This is a positive change from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a dividend yield of 2.25%. NIKE’s payout ratio is presently 49.38%.

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.