Northeast Investment Management Sells 77,730 Shares of NIKE, Inc. (NYSE:NKE)

Northeast Investment Management cut its position in NIKE, Inc. (NYSE:NKE) by 56.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 61,055 shares of the footwear maker’s stock after selling 77,730 shares during the quarter. Northeast Investment Management’s holdings in NIKE were worth $4,620,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Range Financial Group LLC bought a new position in NIKE in the 4th quarter valued at approximately $642,000. Cacti Asset Management LLC acquired a new position in NIKE in the 4th quarter valued at approximately $9,987,000. Capricorn Fund Managers Ltd bought a new position in shares of NIKE during the fourth quarter valued at $5,384,000. Klein Pavlis & Peasley Financial Inc. grew its stake in shares of NIKE by 31.1% in the fourth quarter. Klein Pavlis & Peasley Financial Inc. now owns 25,835 shares of the footwear maker’s stock worth $1,955,000 after purchasing an additional 6,124 shares during the last quarter. Finally, FNY Investment Advisers LLC increased its holdings in NIKE by 5,745.9% in the fourth quarter. FNY Investment Advisers LLC now owns 8,652 shares of the footwear maker’s stock valued at $654,000 after purchasing an additional 8,504 shares during the period. 64.25% of the stock is owned by institutional investors and hedge funds.

NIKE Stock Down 4.3 %

NIKE stock opened at $68.69 on Friday. The business has a fifty day moving average price of $75.12 and a 200-day moving average price of $78.01. NIKE, Inc. has a 1-year low of $68.62 and a 1-year high of $107.43. The stock has a market capitalization of $101.60 billion, a price-to-earnings ratio of 21.20, a PEG ratio of 2.34 and a beta of 1.01. 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 (NYSE:NKE) last issued its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share 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 analyst estimates of $12.11 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The company’s revenue was down 7.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.03 earnings per share. Equities research analysts forecast that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were issued a $0.40 dividend. The ex-dividend date was Monday, December 2nd. This is an increase from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 dividend on an annualized basis and a yield of 2.33%. NIKE’s payout ratio is presently 49.38%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Truist Financial decreased 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. TD Cowen lowered their price objective on NIKE from $78.00 to $73.00 and set a “hold” rating for the company in a research report on Monday, November 18th. Citigroup lowered NIKE from a “buy” rating to a “neutral” rating and cut their target price for the company from $102.00 to $72.00 in a research report on Friday. Morgan Stanley dropped their price target on NIKE from $80.00 to $74.00 and set an “equal weight” rating on the stock in a research note on Friday, December 20th. Finally, Wells Fargo & Company reduced their price objective on shares of NIKE from $95.00 to $92.00 and set an “overweight” rating for the company in a research report on Monday, December 16th. Fifteen equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $88.62.

Insiders Place Their Bets

In other NIKE news, Director John W. Rogers, Jr. bought 2,500 shares of NIKE stock in a transaction dated Friday, December 27th. The stock was acquired at an average cost of $76.65 per share, with a total value of $191,625.00. Following the purchase, the director now directly owns 34,403 shares in the company, valued at $2,636,989.95. This represents a 7.84 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.10% of the company’s stock.

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.