Flagship Harbor Advisors LLC Lowers Stock Holdings in NIKE, Inc. (NYSE:NKE)

Flagship Harbor Advisors LLC lessened its holdings in NIKE, Inc. (NYSE:NKE) by 1.7% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 12,862 shares of the footwear maker’s stock after selling 216 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in NIKE were worth $973,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Range Financial Group LLC bought a new stake in NIKE during the 4th quarter valued at approximately $642,000. Cacti Asset Management LLC bought a new stake in shares of NIKE during the fourth quarter valued at approximately $9,987,000. Capricorn Fund Managers Ltd purchased a new position in shares of NIKE in the fourth quarter worth $5,384,000. FNY Investment Advisers LLC boosted its position in shares of NIKE by 5,745.9% during the fourth quarter. FNY Investment Advisers LLC now owns 8,652 shares of the footwear maker’s stock worth $654,000 after acquiring an additional 8,504 shares during the last quarter. Finally, Eagle Rock Investment Company LLC grew its stake in NIKE by 49.2% during the fourth quarter. Eagle Rock Investment Company LLC now owns 60,642 shares of the footwear maker’s stock valued at $4,589,000 after acquiring an additional 19,991 shares in the last quarter. 64.25% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have commented on the stock. Evercore ISI decreased their price target on shares of NIKE from $105.00 to $97.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. Piper Sandler raised NIKE from a “neutral” rating to an “overweight” rating and increased their price target for the company from $72.00 to $90.00 in a research note on Friday, January 10th. Wells Fargo & Company reduced their price objective on NIKE from $95.00 to $92.00 and set an “overweight” rating on the stock in a research note on Monday, December 16th. Jefferies Financial Group increased their target price on NIKE from $80.00 to $85.00 and gave the company a “hold” rating in a research report on Monday, September 30th. Finally, Stifel Nicolaus reduced their price target on shares of NIKE from $79.00 to $75.00 and set a “hold” rating on the stock in a research report on Friday, December 20th. Fourteen analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $89.96.

Insider Transactions at NIKE

In related news, Director John W. Rogers, Jr. acquired 2,500 shares of the firm’s stock in a transaction that occurred on Friday, December 27th. The stock was purchased at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the purchase, 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 acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 1.10% of the company’s stock.

NIKE Stock Up 2.9 %

Shares of NYSE NKE opened at $75.69 on Tuesday. The stock has a 50 day moving average price of $75.45 and a 200 day moving average price of $77.94. The firm has a market capitalization of $111.96 billion, a price-to-earnings ratio of 23.36, a PEG ratio of 2.36 and a beta of 1.02. NIKE, Inc. has a 52-week low of $70.32 and a 52-week high of $107.43. 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 posted its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.15. The business had revenue of $12.35 billion for the quarter, compared to the consensus estimate of $12.11 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The business’s revenue was down 7.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.03 EPS. Sell-side analysts expect that NIKE, Inc. will post 2.1 earnings per share for the current year.

NIKE Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were issued a $0.40 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.11%. This is a positive change from NIKE’s previous quarterly dividend of $0.37. NIKE’s payout ratio is currently 49.38%.

NIKE 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.