NIKE, Inc. (NYSE:NKE) Stock Holdings Trimmed by GSB Wealth Management LLC

GSB Wealth Management LLC decreased its holdings in NIKE, Inc. (NYSE:NKE) by 22.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,239 shares of the footwear maker’s stock after selling 1,767 shares during the quarter. GSB Wealth Management LLC’s holdings in NIKE were worth $472,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Geneos Wealth Management Inc. grew its position in NIKE by 10.4% in the 4th quarter. Geneos Wealth Management Inc. now owns 44,748 shares of the footwear maker’s stock valued at $3,386,000 after buying an additional 4,210 shares in the last quarter. Bennett Selby Investments LP boosted its holdings in shares of NIKE by 82.9% in the fourth quarter. Bennett Selby Investments LP now owns 36,391 shares of the footwear maker’s stock valued at $2,754,000 after acquiring an additional 16,498 shares in the last quarter. Exchange Traded Concepts LLC increased its stake in shares of NIKE by 9.4% during the fourth quarter. Exchange Traded Concepts LLC now owns 30,787 shares of the footwear maker’s stock valued at $2,330,000 after acquiring an additional 2,646 shares during the period. CX Institutional increased its stake in shares of NIKE by 21.1% during the fourth quarter. CX Institutional now owns 71,156 shares of the footwear maker’s stock valued at $5,384,000 after acquiring an additional 12,394 shares during the period. Finally, RFG Advisory LLC raised its holdings in NIKE by 207.1% during the fourth quarter. RFG Advisory LLC now owns 8,735 shares of the footwear maker’s stock worth $661,000 after purchasing an additional 5,891 shares in the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

NIKE Trading Down 0.9 %

NIKE stock opened at $73.60 on Friday. NIKE, Inc. has a one year low of $70.32 and a one year high of $107.43. The company’s fifty day moving average price is $75.45 and its two-hundred day moving average price is $77.86. 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 company has a market capitalization of $108.86 billion, a price-to-earnings ratio of 22.72, a PEG ratio of 2.36 and a beta of 1.02.

NIKE (NYSE:NKE) last issued 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. The business had revenue of $12.35 billion for the quarter, compared to the consensus estimate of $12.11 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The firm’s revenue was down 7.7% compared to the same quarter last year. During the same period last year, the business earned $1.03 EPS. On average, analysts forecast that NIKE, Inc. will post 2.1 earnings per share for the current fiscal year.

NIKE Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were issued a dividend of $0.40 per share. This is an increase from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a dividend yield of 2.17%. The ex-dividend date of this dividend was Monday, December 2nd. NIKE’s dividend payout ratio is currently 49.38%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on NKE. Jefferies Financial Group lifted their price target on NIKE from $80.00 to $85.00 and gave the company a “hold” rating in a research report on Monday, September 30th. 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 note on Friday, December 20th. Piper Sandler upgraded shares of NIKE from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $72.00 to $90.00 in a research report on Friday, January 10th. Evercore ISI reduced their price objective on NIKE from $105.00 to $97.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. Finally, Bank of America cut their target price on NIKE from $95.00 to $90.00 and set a “buy” 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 assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $89.96.

Insider Activity at NIKE

In other NIKE news, Director John W. Rogers, Jr. acquired 2,500 shares of the company’s stock in a transaction dated 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 completion of the purchase, the director now 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 position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.10% of the stock is currently owned by company 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.