NIKE, Inc. (NYSE:NKE) Shares Sold by RK Asset Management LLC

RK Asset Management LLC cut its stake in shares of NIKE, Inc. (NYSE:NKE) by 3.0% in the 4th quarter, Holdings Channel.com reports. The firm owned 57,488 shares of the footwear maker’s stock after selling 1,780 shares during the period. NIKE makes up 3.6% of RK Asset Management LLC’s portfolio, making the stock its 18th largest holding. RK Asset Management LLC’s holdings in NIKE were worth $4,350,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Everence Capital Management Inc. boosted its holdings in shares of NIKE by 128.1% in the fourth quarter. Everence Capital Management Inc. now owns 24,680 shares of the footwear maker’s stock valued at $1,868,000 after acquiring an additional 13,860 shares in the last quarter. Modus Advisors LLC purchased a new stake in NIKE in the 4th quarter valued at approximately $85,000. GAMMA Investing LLC increased its position in NIKE by 1.0% during the 4th quarter. GAMMA Investing LLC now owns 15,014 shares of the footwear maker’s stock worth $1,136,000 after purchasing an additional 150 shares during the period. Cacti Asset Management LLC acquired a new stake in shares of NIKE in the 4th quarter valued at approximately $9,987,000. Finally, Confluence Investment Management LLC boosted its stake in shares of NIKE by 6.3% in the fourth quarter. Confluence Investment Management LLC now owns 246,080 shares of the footwear maker’s stock valued at $18,621,000 after buying an additional 14,592 shares in the last quarter. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NKE has been the subject of several research analyst reports. UBS Group reiterated a “neutral” rating and issued a $73.00 price objective on shares of NIKE in a research report on Thursday, December 26th. Truist Financial reduced their price objective on shares of NIKE from $97.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Morgan Stanley dropped their target price 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. Royal Bank of Canada decreased their price target on NIKE from $82.00 to $80.00 and set a “sector perform” rating on the stock in a research note on Thursday, November 7th. Finally, DA Davidson raised NIKE to a “strong-buy” rating in a research note on Monday, December 23rd. Fifteen investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $89.58.

NIKE Stock Performance

Shares of NKE traded down $0.36 during mid-day trading on Friday, reaching $73.31. 10,058,011 shares of the company’s stock traded hands, compared to its average volume of 10,470,705. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36. The business’s 50-day moving average price is $77.02 and its 200-day moving average price is $79.46. The stock has a market capitalization of $109.92 billion, a P/E ratio of 21.01, a price-to-earnings-growth ratio of 1.89 and a beta of 1.02. NIKE, Inc. has a 12 month low of $70.75 and a 12 month high of $107.43.

NIKE (NYSE:NKE) last released its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.15. The company had revenue of $12.35 billion during the quarter, compared to analysts’ expectations of $12.11 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The company’s revenue for the quarter was down 7.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.03 earnings per share. Equities analysts predict that NIKE, Inc. will post 2.72 earnings per share for the current year.

NIKE Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were paid a $0.40 dividend. This is a positive change from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date of this dividend was Monday, December 2nd. NIKE’s dividend payout ratio is currently 49.38%.

Insider Activity

In other NIKE news, Director John W. Rogers, Jr. bought 2,500 shares of the company’s stock in a transaction that occurred on Friday, December 27th. The shares were acquired at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the acquisition, the director now directly owns 34,403 shares of the company’s stock, valued at $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 SEC, which is available through this link. Insiders own 1.10% of the company’s stock.

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.