Vision Capital Management Inc. Lowers Position in NIKE, Inc. (NYSE:NKE)

Vision Capital Management Inc. lowered its holdings in NIKE, Inc. (NYSE:NKE) by 8.5% in the 4th quarter, Holdings Channel reports. The firm owned 68,352 shares of the footwear maker’s stock after selling 6,318 shares during the period. Vision Capital Management Inc.’s holdings in NIKE were worth $5,172,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of NKE. Absher Wealth Management LLC grew its stake in NIKE by 1.3% in the fourth quarter. Absher Wealth Management LLC now owns 392,020 shares of the footwear maker’s stock worth $29,664,000 after purchasing an additional 5,167 shares in the last quarter. Econ Financial Services Corp purchased a new position in NIKE in the 4th quarter worth $1,423,000. Martin Capital Partners LLC acquired a new stake in shares of NIKE during the 4th quarter valued at about $1,194,000. Money Concepts Capital Corp grew its position in shares of NIKE by 49.3% during the 4th quarter. Money Concepts Capital Corp now owns 15,340 shares of the footwear maker’s stock valued at $1,161,000 after acquiring an additional 5,068 shares during the period. Finally, Confluence Wealth Services Inc. boosted its holdings in NIKE by 24.7% in the 4th quarter. Confluence Wealth Services Inc. now owns 14,414 shares of the footwear maker’s stock worth $1,071,000 after buying an additional 2,851 shares during the last quarter. Institutional investors own 64.25% of the company’s stock.

Wall Street Analyst Weigh In

NKE has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft cut their target price on NIKE from $92.00 to $82.00 and set a “buy” rating on the stock in a research report on Monday, December 16th. JPMorgan Chase & Co. decreased their target price 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. Truist Financial reduced their price target on shares of NIKE from $97.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Wells Fargo & Company dropped their price objective on shares of NIKE from $95.00 to $92.00 and set an “overweight” rating for the company in a research note on Monday, December 16th. Finally, Evercore ISI decreased their price target on shares of NIKE from $105.00 to $97.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. Fourteen equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $89.77.

NIKE Price Performance

NYSE:NKE opened at $74.60 on Thursday. The company has a 50-day moving average of $75.53 and a 200-day moving average of $78.12. The company has a market capitalization of $110.34 billion, a price-to-earnings ratio of 23.02, a PEG ratio of 2.50 and a beta of 1.01. NIKE, Inc. has a 52 week low of $70.32 and a 52 week high of $107.43. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.15. The company had revenue of $12.35 billion during the quarter, compared to the consensus estimate of $12.11 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The firm’s revenue for the quarter was down 7.7% compared to the same quarter last year. During the same period last year, the firm earned $1.03 EPS. As a group, equities research analysts anticipate that NIKE, Inc. will post 2.05 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. Investors of record on Monday, December 2nd were given a dividend of $0.40 per share. The ex-dividend date was Monday, December 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.14%. This is a boost from NIKE’s previous quarterly dividend of $0.37. NIKE’s dividend payout ratio (DPR) is 49.38%.

Insider Buying and Selling

In other NIKE news, Director John W. Rogers, Jr. bought 2,500 shares of NIKE stock in a transaction dated Friday, December 27th. The shares were bought at an average price of $76.65 per share, with a total value of $191,625.00. Following the purchase, the director now 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 transaction was disclosed in a filing with the SEC, which is available at this link. 1.10% of the stock is currently owned by corporate 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.