Etesian Wealth Advisors Inc. Sells 4,877 Shares of NIKE, Inc. (NYSE:NKE)

Etesian Wealth Advisors Inc. reduced its holdings in NIKE, Inc. (NYSE:NKE) by 40.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 7,091 shares of the footwear maker’s stock after selling 4,877 shares during the quarter. Etesian Wealth Advisors Inc.’s holdings in NIKE were worth $537,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Pacer Advisors Inc. increased its holdings in NIKE by 6,029.6% in the 4th quarter. Pacer Advisors Inc. now owns 6,821,270 shares of the footwear maker’s stock worth $516,166,000 after acquiring an additional 6,709,985 shares during the last quarter. Loomis Sayles & Co. L P boosted its holdings in NIKE by 1,209,638.7% in the 3rd quarter. Loomis Sayles & Co. L P now owns 6,508,394 shares of the footwear maker’s stock valued at $575,342,000 after purchasing an additional 6,507,856 shares during the period. Assenagon Asset Management S.A. boosted its stake in NIKE by 358.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 3,015,267 shares of the footwear maker’s stock valued at $228,165,000 after buying an additional 2,357,745 shares during the period. State Street Corp increased its position in shares of NIKE by 3.3% in the third quarter. State Street Corp now owns 57,916,789 shares of the footwear maker’s stock worth $5,140,796,000 after purchasing an additional 1,862,021 shares during the last quarter. Finally, Holocene Advisors LP purchased a new stake in shares of NIKE during the 3rd quarter valued at $148,635,000. Institutional investors own 64.25% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Telsey Advisory Group downgraded NIKE from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $93.00 to $80.00 in a research report on Friday, December 20th. TD Cowen reduced their target price on NIKE from $78.00 to $73.00 and set a “hold” rating on the stock in a report on Monday, November 18th. Piper Sandler raised shares of NIKE from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $72.00 to $90.00 in a research report on Friday, January 10th. Stifel Nicolaus dropped their target price on NIKE from $79.00 to $75.00 and set a “hold” rating on the stock in a report on Friday, December 20th. Finally, Barclays lowered their price objective on NIKE from $79.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Friday, December 20th. Fourteen equities research 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’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.77.

NIKE Stock Performance

NYSE NKE opened at $74.60 on Thursday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. The stock has a 50-day simple moving average of $75.45 and a two-hundred day simple moving average of $78.10. NIKE, Inc. has a fifty-two week low of $70.32 and a fifty-two week high of $107.43. The firm has a market capitalization of $110.34 billion, a P/E ratio of 23.02, a PEG ratio of 2.50 and a beta of 1.01.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.15. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The company had revenue of $12.35 billion during the quarter, compared to analysts’ expectations of $12.11 billion. During the same quarter in the previous year, the company earned $1.03 earnings per share. The firm’s revenue for the quarter was down 7.7% on a year-over-year basis. On average, equities analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.14%. This is an increase from NIKE’s previous quarterly dividend of $0.37. NIKE’s dividend payout ratio is currently 49.38%.

Insiders Place Their Bets

In other news, Director John W. Rogers, Jr. bought 2,500 shares of NIKE 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 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 document filed with the Securities & Exchange Commission, which is available at this link. 1.10% of the stock is currently owned by company insiders.

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.