Empower Advisory Group LLC Sells 67,279 Shares of NIKE, Inc. (NYSE:NKE)

Empower Advisory Group LLC decreased its holdings in shares of NIKE, Inc. (NYSE:NKE) by 8.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 760,902 shares of the footwear maker’s stock after selling 67,279 shares during the period. Empower Advisory Group LLC owned 0.05% of NIKE worth $57,577,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in NKE. Range Financial Group LLC purchased a new position in NIKE during the fourth quarter valued at $642,000. Cacti Asset Management LLC bought a new position in shares of NIKE during the fourth quarter valued at $9,987,000. Capricorn Fund Managers Ltd purchased a new position in shares of NIKE in the 4th quarter worth about $5,384,000. Klein Pavlis & Peasley Financial Inc. boosted its stake in NIKE by 31.1% in the 4th 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 in the last quarter. Finally, FNY Investment Advisers LLC grew its position in NIKE by 5,745.9% during the 4th 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 last quarter. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

NIKE Stock Down 0.3 %

NKE stock opened at $73.02 on Tuesday. The business’s 50-day moving average price is $74.46 and its 200-day moving average price is $78.05. The stock has a market cap of $108.00 billion, a P/E ratio of 22.54, a PEG ratio of 2.34 and a beta of 1.01. NIKE, Inc. has a twelve month low of $68.62 and a twelve month high of $107.34. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57.

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, beating the consensus estimate 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 net margin of 9.98% and a return on equity of 36.99%. The company’s revenue for the quarter 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. On average, equities research analysts forecast that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be paid a $0.40 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.19%. NIKE’s payout ratio is presently 49.38%.

Insider Buying and Selling at NIKE

In other NIKE news, Director John W. Rogers, Jr. bought 2,500 shares of the business’s stock in a transaction that occurred on Friday, December 27th. The stock was purchased 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 $2,636,989.95. This trade represents a 7.84 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Wells Fargo & Company decreased their target price on shares of NIKE from $95.00 to $92.00 and set an “overweight” rating for the company in a report on Monday, December 16th. TD Cowen decreased their price objective on shares of NIKE from $78.00 to $73.00 and set a “hold” rating for the company in a report on Monday, November 18th. Needham & Company LLC reiterated a “buy” rating and set a $84.00 target price on shares of NIKE in a research note on Friday, February 7th. Piper Sandler upgraded NIKE from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $72.00 to $90.00 in a research note on Friday, January 10th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and set a $80.00 price objective on shares of NIKE in a research report on Thursday, February 6th. 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 stock. Based on data from MarketBeat.com, NIKE currently has a consensus rating of “Moderate Buy” and an average target price 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.