WestEnd Advisors LLC Has $177,000 Position in NIKE, Inc. (NYSE:NKE)

WestEnd Advisors LLC trimmed its position in shares of NIKE, Inc. (NYSE:NKE) by 99.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,345 shares of the footwear maker’s stock after selling 405,904 shares during the quarter. WestEnd Advisors LLC’s holdings in NIKE were worth $177,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in NKE. San Luis Wealth Advisors LLC acquired a new stake in NIKE in the third quarter valued at $201,000. Iowa State Bank grew its position in shares of NIKE by 70.2% in the 3rd quarter. Iowa State Bank now owns 29,611 shares of the footwear maker’s stock valued at $2,618,000 after buying an additional 12,217 shares during the last quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH raised its position in shares of NIKE by 1.6% during the third quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 23,998 shares of the footwear maker’s stock worth $2,121,000 after acquiring an additional 367 shares during the last quarter. First Affirmative Financial Network acquired a new position in shares of NIKE in the third quarter worth approximately $477,000. Finally, Bennett Selby Investments LP boosted its holdings in NIKE by 33.6% in the third quarter. Bennett Selby Investments LP now owns 19,893 shares of the footwear maker’s stock valued at $1,759,000 after acquiring an additional 5,004 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors.

NIKE Trading Down 4.3 %

NKE stock opened at $68.69 on Friday. The company has a market capitalization of $101.60 billion, a PE ratio of 21.20, a price-to-earnings-growth ratio of 2.34 and a beta of 1.01. 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, Inc. has a one year low of $68.62 and a one year high of $107.43. The company’s 50 day moving average price is $75.12 and its two-hundred day moving average price is $78.01.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.15. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The business had revenue of $12.35 billion during the quarter, compared to the consensus estimate of $12.11 billion. During the same period in the previous year, the firm posted $1.03 earnings per share. The firm’s revenue for the quarter was down 7.7% on a year-over-year basis. As a group, analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Increases Dividend

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

Insider Buying and Selling

In related news, Director John W. Rogers, Jr. acquired 2,500 shares of NIKE stock in a transaction on Friday, December 27th. The shares were acquired at an average cost of $76.65 per share, with a total value of $191,625.00. Following the transaction, the director now owns 34,403 shares in the company, valued at $2,636,989.95. This trade represents a 7.84 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

NKE has been the topic of a number of analyst reports. Wells Fargo & Company reduced their price objective on shares of NIKE from $95.00 to $92.00 and set an “overweight” rating on the stock in a research note on Monday, December 16th. Piper Sandler upgraded NIKE from a “neutral” rating to an “overweight” rating and upped their target price for the company from $72.00 to $90.00 in a research report on Friday, January 10th. Evercore ISI cut their price target on NIKE from $105.00 to $97.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. DA Davidson upgraded shares of NIKE to a “strong-buy” rating in a research report on Monday, December 23rd. Finally, Barclays reduced their price target on shares of NIKE from $79.00 to $70.00 and set an “equal weight” rating for the company in a report on Friday, December 20th. Fifteen analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.62.

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.