NIKE, Inc. (NYSE:NKE) Shares Sold by Wedbush Securities Inc.

Wedbush Securities Inc. reduced its position in NIKE, Inc. (NYSE:NKE) by 13.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,864 shares of the footwear maker’s stock after selling 3,251 shares during the quarter. Wedbush Securities Inc.’s holdings in NIKE were worth $1,579,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Heck Capital Advisors LLC purchased a new stake in NIKE during the 4th quarter worth approximately $28,000. Caitlin John LLC grew its stake in shares of NIKE by 117.0% in the fourth quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock worth $28,000 after acquiring an additional 200 shares in the last quarter. Roxbury Financial LLC purchased a new stake in shares of NIKE during the fourth quarter worth $30,000. LFA Lugano Financial Advisors SA raised its stake in shares of NIKE by 110.5% in the fourth quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker’s stock valued at $30,000 after acquiring an additional 210 shares in the last quarter. Finally, Hopwood Financial Services Inc. purchased a new position in NIKE in the fourth quarter valued at $30,000. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

NIKE Price Performance

Shares of NKE opened at $57.17 on Friday. 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 $52.50 and a fifty-two week high of $98.04. The firm has a 50-day simple moving average of $72.96 and a 200-day simple moving average of $76.30. The company has a market capitalization of $84.57 billion, a price-to-earnings ratio of 17.65, a price-to-earnings-growth ratio of 2.52 and a beta of 1.02.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.26. The company had revenue of $11.27 billion during the quarter, compared to analysts’ expectations of $11.02 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The firm’s revenue for the quarter was down 9.1% on a year-over-year basis. During the same period last year, the firm earned $0.98 EPS. On average, equities research analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

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

Insiders Place Their Bets

In other news, Chairman Mark G. Parker sold 169,732 shares of the business’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the transaction, the chairman now directly owns 896,632 shares in the company, valued at $65,301,708.56. The trade was a 15.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Telsey Advisory Group restated a “market perform” rating and set a $80.00 price target on shares of NIKE in a report on Monday, March 17th. DA Davidson raised shares of NIKE to a “strong-buy” rating in a report on Monday, December 23rd. Piper Sandler upgraded shares of NIKE from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $72.00 to $90.00 in a report on Friday, January 10th. BMO Capital Markets dropped their price objective on shares of NIKE from $95.00 to $92.00 and set an “outperform” rating on the stock in a research report on Friday, March 21st. Finally, Cfra Research raised shares of NIKE to a “moderate buy” rating in a research report on Friday, March 21st. Fifteen research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, NIKE has a consensus rating of “Moderate Buy” and a consensus price target of $87.38.

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.