MassMutual Private Wealth & Trust FSB Trims Holdings in NIKE, Inc. (NYSE:NKE)

MassMutual Private Wealth & Trust FSB decreased its stake in shares of NIKE, Inc. (NYSE:NKE) by 8.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 6,470 shares of the footwear maker’s stock after selling 632 shares during the period. MassMutual Private Wealth & Trust FSB’s holdings in NIKE were worth $490,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in NKE. Teachers Insurance & Annuity Association of America bought a new position in shares of NIKE in the third quarter valued at approximately $30,000. VitalStone Financial LLC boosted its holdings in NIKE by 52.6% in the 3rd quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock valued at $38,000 after purchasing an additional 150 shares during the period. Dunhill Financial LLC boosted its holdings in NIKE by 52.2% in the 3rd quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock valued at $44,000 after purchasing an additional 169 shares during the period. Ecofi Investissements SA purchased a new position in shares of NIKE during the 2nd quarter valued at $49,000. Finally, Riverview Trust Co purchased a new stake in shares of NIKE in the third quarter worth $52,000. Institutional investors own 64.25% of the company’s stock.

NIKE Trading Up 3.4 %

NYSE:NKE opened at $73.22 on Wednesday. NIKE, Inc. has a 12 month low of $70.32 and a 12 month high of $107.43. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. The company has a 50-day moving average price of $75.66 and a 200-day moving average price of $77.92. The stock has a market cap of $108.30 billion, a price-to-earnings ratio of 22.60, a P/E/G ratio of 2.25 and a beta of 1.02.

NIKE (NYSE:NKE) last posted its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.15. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The firm had revenue of $12.35 billion for the quarter, compared to the consensus estimate of $12.11 billion. During the same quarter in the prior year, the business earned $1.03 EPS. The business’s revenue for the quarter was down 7.7% on a year-over-year basis. Equities analysts predict that NIKE, Inc. will post 2.1 EPS for the current year.

NIKE Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date of this dividend was Monday, December 2nd. This is a boost from NIKE’s previous quarterly dividend of $0.37. NIKE’s payout ratio is 49.38%.

Analyst Ratings Changes

A number of equities analysts have weighed in on NKE shares. Wells Fargo & Company decreased their target price on NIKE from $95.00 to $92.00 and set an “overweight” rating on the stock in a research note on Monday, December 16th. Truist Financial lowered their target price on shares of NIKE from $97.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. JPMorgan Chase & Co. cut their price target on shares of NIKE from $77.00 to $73.00 and set a “neutral” rating for the company in a research note on Monday, December 2nd. Barclays lowered their price objective on shares of NIKE from $79.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Friday, December 20th. Finally, Guggenheim cut their target price on shares of NIKE from $115.00 to $110.00 and set a “buy” rating for the company in a research report on Wednesday, October 2nd. Fourteen investment 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.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $89.96.

Insider Transactions at NIKE

In other NIKE news, Director John W. Rogers, Jr. acquired 2,500 shares of the business’s stock in a transaction on Friday, December 27th. The shares were acquired at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the acquisition, the director now owns 34,403 shares in the company, valued at $2,636,989.95. This trade represents a 7.84 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.10% of the company’s stock.

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.