CIBC Private Wealth Group LLC Sells 2,890 Shares of NIKE, Inc. (NYSE:NKE)

CIBC Private Wealth Group LLC lessened its stake in NIKE, Inc. (NYSE:NKE) by 1.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 165,406 shares of the footwear maker’s stock after selling 2,890 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in NIKE were worth $11,792,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in NKE. Life Planning Partners Inc acquired a new position in NIKE during the fourth quarter valued at approximately $11,183,000. Schroder Investment Management Group grew its holdings in shares of NIKE by 12.9% in the 4th quarter. Schroder Investment Management Group now owns 1,940,186 shares of the footwear maker’s stock valued at $144,835,000 after buying an additional 221,349 shares during the period. Arrowstreet Capital Limited Partnership increased its position in shares of NIKE by 7,238.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,627,424 shares of the footwear maker’s stock valued at $123,147,000 after buying an additional 1,605,248 shares in the last quarter. MV Capital Management Inc. raised its stake in NIKE by 5.6% during the 4th quarter. MV Capital Management Inc. now owns 5,930 shares of the footwear maker’s stock worth $449,000 after buying an additional 316 shares during the period. Finally, Allianz SE bought a new position in NIKE during the fourth quarter worth about $9,998,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Stock Up 0.4 %

NKE opened at $63.57 on Tuesday. The stock has a fifty day moving average of $74.01 and a 200-day moving average of $76.82. The company has a market capitalization of $94.02 billion, a P/E ratio of 19.62, a P/E/G ratio of 2.52 and a beta of 1.02. NIKE, Inc. has a fifty-two week low of $62.65 and a fifty-two week high of $98.04. 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 issued its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.26. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The business had revenue of $11.27 billion during the quarter, compared to analysts’ expectations of $11.02 billion. During the same quarter in the previous year, the company earned $0.98 EPS. The business’s revenue was down 9.1% on a year-over-year basis. On average, equities analysts expect that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date of this dividend is Monday, March 3rd. NIKE’s dividend payout ratio is currently 53.16%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. China Renaissance initiated coverage on NIKE in a report on Wednesday, March 19th. They issued a “hold” rating for the company. BMO Capital Markets cut their price target on shares of NIKE from $95.00 to $92.00 and set an “outperform” rating on the stock in a research note on Friday, March 21st. Truist Financial lowered their price objective on shares of NIKE from $90.00 to $82.00 and set a “buy” rating for the company in a research report on Friday, March 21st. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of NIKE from $92.00 to $82.00 and set a “buy” rating on the stock in a report on Monday, December 16th. Finally, Morgan Stanley lowered their target price on NIKE from $72.00 to $70.00 and set an “equal weight” rating for the company in a report on Friday, March 21st. Fifteen analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, NIKE presently has a consensus rating of “Moderate Buy” and an average price target of $87.38.

Insider Buying and Selling

In other news, Chairman Mark G. Parker sold 169,732 shares of the 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 sale, the chairman now directly owns 896,632 shares of the company’s stock, valued at approximately $65,301,708.56. This represents a 15.92 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed 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.