NIKE, Inc. (NYSE:NKE) Shares Sold by Godsey & Gibb Inc.

Godsey & Gibb Inc. cut its stake in shares of NIKE, Inc. (NYSE:NKE) by 8.5% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,680 shares of the footwear maker’s stock after selling 156 shares during the quarter. Godsey & Gibb Inc.’s holdings in NIKE were worth $127,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in NKE. Teachers Insurance & Annuity Association of America purchased a new stake in NIKE during the 3rd quarter valued at about $30,000. VitalStone Financial LLC boosted its position in NIKE by 52.6% in the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock valued at $38,000 after buying an additional 150 shares during the last quarter. Dunhill Financial LLC increased its holdings in NIKE by 52.2% in the 3rd quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock worth $44,000 after buying an additional 169 shares during the period. Riverview Trust Co purchased a new position in NIKE during the 3rd quarter worth approximately $52,000. Finally, Catalyst Capital Advisors LLC acquired a new stake in NIKE during the 3rd quarter valued at approximately $54,000. 64.25% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on NKE. Piper Sandler upgraded shares of NIKE from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $72.00 to $90.00 in a research note on Friday, January 10th. Deutsche Bank Aktiengesellschaft reduced their price objective on NIKE from $92.00 to $82.00 and set a “buy” rating for the company in a research note on Monday, December 16th. Sanford C. Bernstein lowered their target price on NIKE from $112.00 to $109.00 and set an “outperform” rating on the stock in a research note on Thursday, September 19th. Bank of America reduced their price target on NIKE from $95.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Finally, Stifel Nicolaus lowered their price objective on NIKE from $79.00 to $75.00 and set a “hold” rating on the stock in a research report on Friday, December 20th. Fourteen analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $89.96.

NIKE Stock Performance

Shares of NYSE:NKE opened at $71.04 on Thursday. NIKE, Inc. has a 1 year low of $70.53 and a 1 year high of $107.43. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. The business’s 50 day moving average price is $76.05 and its 200-day moving average price is $78.06. The firm has a market capitalization of $105.08 billion, a PE ratio of 21.93, a P/E/G ratio of 2.26 and a beta of 1.02.

NIKE (NYSE:NKE) last issued its 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. The business had revenue of $12.35 billion for 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 business’s revenue for the quarter was down 7.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.03 EPS. As a group, equities research analysts expect that NIKE, Inc. will post 2.1 earnings per share for the current fiscal year.

NIKE Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.25%. This is a positive change from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Monday, December 2nd. NIKE’s payout ratio is presently 49.38%.

Insider Activity at NIKE

In other news, Director John W. Rogers, Jr. purchased 2,500 shares of the firm’s stock in a transaction on Friday, December 27th. The shares were bought 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 trade represents a 7.84 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.10% of the stock is currently owned by insiders.

NIKE Company 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.