PAX Financial Group LLC Sells 571 Shares of NIKE, Inc. (NYSE:NKE)

PAX Financial Group LLC decreased its stake in shares of NIKE, Inc. (NYSE:NKE) by 8.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,002 shares of the footwear maker’s stock after selling 571 shares during the period. PAX Financial Group LLC’s holdings in NIKE were worth $454,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. IHT Wealth Management LLC boosted its position in NIKE by 29.4% in the third quarter. IHT Wealth Management LLC now owns 18,700 shares of the footwear maker’s stock worth $1,657,000 after purchasing an additional 4,254 shares during the last quarter. Royal London Asset Management Ltd. grew its position in NIKE by 9.3% during the third quarter. Royal London Asset Management Ltd. now owns 649,813 shares of the footwear maker’s stock valued at $57,443,000 after buying an additional 55,266 shares during the period. Texas Capital Bank Wealth Management Services Inc increased its holdings in NIKE by 1.6% during the third quarter. Texas Capital Bank Wealth Management Services Inc now owns 77,923 shares of the footwear maker’s stock valued at $6,888,000 after buying an additional 1,241 shares during the last quarter. Two Sigma Advisers LP raised its position in NIKE by 8.8% in the third quarter. Two Sigma Advisers LP now owns 5,528,800 shares of the footwear maker’s stock worth $488,746,000 after acquiring an additional 446,200 shares during the period. Finally, Weiss Asset Management LP purchased a new position in shares of NIKE during the 3rd quarter worth $5,594,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on NKE. Guggenheim restated a “buy” rating and issued a $110.00 price objective on shares of NIKE in a research note on Wednesday, February 12th. Barclays decreased their price objective on NIKE from $79.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Friday, December 20th. Truist Financial cut their price objective on NIKE from $90.00 to $82.00 and set a “buy” rating for the company in a research note on Friday, March 21st. Deutsche Bank Aktiengesellschaft decreased their target price on shares of NIKE from $92.00 to $82.00 and set a “buy” rating on the stock in a research note on Monday, December 16th. Finally, BMO Capital Markets reduced their price objective on shares of NIKE from $95.00 to $92.00 and set an “outperform” rating for the company in a research note on Friday, March 21st. Fifteen equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, NIKE currently has an average rating of “Moderate Buy” and a consensus target price of $87.38.

NIKE Stock Up 2.9 %

Shares of NYSE:NKE opened at $57.17 on Friday. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. The business’s 50 day moving average is $72.96 and its 200 day moving average is $76.33. The stock has a market cap of $84.57 billion, a P/E ratio of 17.65, a price-to-earnings-growth ratio of 2.52 and a beta of 1.02. NIKE, Inc. has a 52-week low of $52.50 and a 52-week high of $98.04.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, beating the consensus estimate of $0.28 by $0.26. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The firm had revenue of $11.27 billion for the quarter, compared to analyst estimates of $11.02 billion. During the same quarter last year, the firm posted $0.98 earnings per share. The business’s revenue for the quarter was down 9.1% on a year-over-year basis. Sell-side analysts predict that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd were given a $0.40 dividend. The ex-dividend date was Monday, March 3rd. This represents a $1.60 annualized dividend and a dividend yield of 2.80%. NIKE’s payout ratio is presently 53.16%.

Insider Activity

In related news, Chairman Mark G. Parker sold 169,732 shares of the company’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 sale, the chairman now directly owns 896,632 shares in the company, valued at $65,301,708.56. This represents a 15.92 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Insiders own 1.10% of the company’s stock.

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.