NIKE, Inc. (NYSE:NKE) Shares Sold by Avantax Planning Partners Inc.

Avantax Planning Partners Inc. trimmed its position in NIKE, Inc. (NYSE:NKE) by 8.4% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 6,485 shares of the footwear maker’s stock after selling 598 shares during the period. Avantax Planning Partners Inc.’s holdings in NIKE were worth $491,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently made changes to their positions in the stock. Heck Capital Advisors LLC acquired a new position in NIKE in the 4th quarter valued at about $28,000. Caitlin John LLC boosted its holdings in NIKE by 117.0% in the fourth quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock worth $28,000 after purchasing an additional 200 shares during the period. Teachers Insurance & Annuity Association of America bought a new stake in NIKE in the third quarter valued at $30,000. Roxbury Financial LLC bought a new stake in shares of NIKE during the fourth quarter valued at about $30,000. Finally, BankPlus Trust Department bought a new stake in NIKE in the fourth quarter worth about $34,000. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

NIKE Stock Down 2.9 %

Shares of NYSE NKE opened at $74.21 on Wednesday. The company has a market cap of $109.76 billion, a price-to-earnings ratio of 22.90, a price-to-earnings-growth ratio of 2.52 and a beta of 1.02. NIKE, Inc. has a 12-month low of $68.62 and a 12-month high of $102.49. 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’s 50-day simple moving average is $74.77 and its 200 day simple moving average is $78.02.

NIKE (NYSE:NKE) last announced its quarterly earnings data 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. The firm had revenue of $12.35 billion during the quarter, compared to analysts’ expectations of $12.11 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The company’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.03 EPS. On average, research analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date is Monday, March 3rd. NIKE’s dividend payout ratio (DPR) is currently 49.38%.

Insiders Place Their Bets

In related news, Chairman Mark G. Parker sold 169,732 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $72.83, for a total value of $12,361,581.56. Following the transaction, the chairman now owns 896,632 shares in the company, valued at approximately $65,301,708.56. This trade represents a 15.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John W. Rogers, Jr. purchased 2,500 shares of the business’s stock in a transaction dated Friday, December 27th. The shares were purchased at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the purchase, the director now directly owns 34,403 shares of the company’s stock, valued at approximately $2,636,989.95. This represents a 7.84 % increase in their position. The disclosure for this purchase can be found here. Insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on NKE. Truist Financial lowered their target price on NIKE from $97.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Wells Fargo & Company decreased their price target on NIKE from $95.00 to $92.00 and set an “overweight” rating on the stock in a report on Monday, December 16th. Evercore ISI dropped their price target on NIKE from $105.00 to $97.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. UBS Group reiterated a “neutral” rating and set a $73.00 target price on shares of NIKE in a research note on Thursday, December 26th. Finally, Piper Sandler raised 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 report on Friday, January 10th. Fourteen analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $89.77.

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.