NIKE, Inc. (NYSE:NKE) Shares Sold by Sentry Investment Management LLC

Sentry Investment Management LLC cut its holdings in shares of NIKE, Inc. (NYSE:NKE) by 65.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,967 shares of the footwear maker’s stock after selling 3,768 shares during the period. Sentry Investment Management LLC’s holdings in NIKE were worth $149,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Teachers Insurance & Annuity Association of America purchased a new stake in shares of NIKE in the third quarter valued at approximately $30,000. Caitlin John LLC grew its stake in NIKE by 117.0% in the 4th quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock valued at $28,000 after acquiring an additional 200 shares during the period. Heck Capital Advisors LLC purchased a new stake in NIKE in the 4th quarter worth $28,000. Roxbury Financial LLC acquired a new position in NIKE during the fourth quarter worth $30,000. Finally, BankPlus Trust Department purchased a new position in NIKE during the fourth quarter valued at $34,000. 64.25% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other NIKE news, Chairman Mark G. Parker sold 169,732 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the completion of the transaction, the chairman now owns 896,632 shares of the company’s stock, valued at approximately $65,301,708.56. This trade represents a 15.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director John W. Rogers, Jr. acquired 2,500 shares of the company’s stock in a transaction that occurred on 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 transaction, the director now owns 34,403 shares in the company, valued at $2,636,989.95. This represents a 7.84 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Jefferies Financial Group raised shares of NIKE from a “hold” rating to a “buy” rating and boosted their target price for the stock from $75.00 to $115.00 in a research note on Monday. Wells Fargo & Company cut their price objective on NIKE from $95.00 to $92.00 and set an “overweight” rating for the company in a research note on Monday, December 16th. Piper Sandler raised NIKE from a “neutral” rating to an “overweight” rating and increased their target price for the company from $72.00 to $90.00 in a report on Friday, January 10th. DA Davidson raised NIKE to a “strong-buy” rating in a research note on Monday, December 23rd. Finally, Telsey Advisory Group reissued a “market perform” rating and issued a $80.00 price objective on shares of NIKE in a research note on Wednesday, February 19th. Fourteen 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’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.77.

NIKE Stock Down 0.7 %

NIKE stock opened at $81.17 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. NIKE, Inc. has a fifty-two week low of $68.62 and a fifty-two week high of $105.57. The stock has a 50-day simple moving average of $74.54 and a 200-day simple moving average of $78.28. The company has a market capitalization of $120.06 billion, a P/E ratio of 25.05, a PEG ratio of 2.52 and a beta of 1.01.

NIKE (NYSE:NKE) last announced 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%. NIKE’s quarterly revenue was down 7.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.03 EPS. Equities research analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.97%. The ex-dividend date of this dividend is Monday, March 3rd. NIKE’s dividend payout ratio (DPR) is presently 49.38%.

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.