Augustine Asset Management Inc. Lowers Holdings in NIKE, Inc. (NYSE:NKE)

Augustine Asset Management Inc. trimmed its holdings in NIKE, Inc. (NYSE:NKE) by 1.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 31,484 shares of the footwear maker’s stock after selling 341 shares during the quarter. NIKE makes up approximately 0.6% of Augustine Asset Management Inc.’s holdings, making the stock its 29th biggest position. Augustine Asset Management Inc.’s holdings in NIKE were worth $2,382,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in NKE. Carnegie Lake Advisors LLC grew its position in shares of NIKE by 93.1% during the fourth quarter. Carnegie Lake Advisors LLC now owns 36,985 shares of the footwear maker’s stock valued at $2,799,000 after purchasing an additional 17,835 shares in the last quarter. Essex Financial Services Inc. lifted its position in shares of NIKE by 43.0% in the fourth quarter. Essex Financial Services Inc. now owns 6,397 shares of the footwear maker’s stock worth $484,000 after buying an additional 1,925 shares in the last quarter. Sapient Capital LLC boosted its stake in NIKE by 7.0% during the fourth quarter. Sapient Capital LLC now owns 14,761 shares of the footwear maker’s stock valued at $1,123,000 after buying an additional 969 shares during the last quarter. Panoramic Capital Partners LLC purchased a new position in NIKE during the 4th quarter valued at approximately $373,000. Finally, International Private Wealth Advisors LLC bought a new stake in NIKE in the 4th quarter worth approximately $547,000. 64.25% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at NIKE

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

Analyst Ratings Changes

A number of research firms have recently commented on NKE. Royal Bank of Canada lowered their target price on NIKE from $82.00 to $80.00 and set a “sector perform” rating for the company in a research report on Thursday, November 7th. BMO Capital Markets increased their price objective on shares of NIKE from $92.00 to $95.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd. Truist Financial reduced their target price on shares of NIKE from $97.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Morgan Stanley lowered their price target on shares of NIKE from $80.00 to $74.00 and set an “equal weight” rating for the company in a report on Friday, December 20th. Finally, UBS Group reiterated a “neutral” rating and issued a $73.00 price target on shares of NIKE in a research report on Thursday, December 26th. Fifteen equities research 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 company’s stock. Based on data from MarketBeat.com, NIKE has a consensus rating of “Moderate Buy” and an average price target of $88.62.

NIKE Price Performance

Shares of NYSE NKE opened at $71.35 on Wednesday. NIKE, Inc. has a 52 week low of $68.62 and a 52 week high of $107.43. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. The firm has a market cap of $105.53 billion, a P/E ratio of 22.02, a P/E/G ratio of 2.34 and a beta of 1.01. The business’s 50 day moving average price is $74.95 and its 200 day moving average price is $78.09.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, topping the consensus estimate 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 business’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.03 EPS. On average, sell-side analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.24%. 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. NIKE’s dividend payout ratio (DPR) is currently 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.