Gerber Kawasaki Wealth & Investment Management Sells 729 Shares of NIKE, Inc. (NYSE:NKE)

Gerber Kawasaki Wealth & Investment Management cut its stake in shares of NIKE, Inc. (NYSE:NKE) by 18.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,141 shares of the footwear maker’s stock after selling 729 shares during the quarter. Gerber Kawasaki Wealth & Investment Management’s holdings in NIKE were worth $238,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Heck Capital Advisors LLC bought a new position in shares of NIKE in the fourth quarter valued at about $28,000. Caitlin John LLC increased its position 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 in the last quarter. Roxbury Financial LLC bought a new position in shares of NIKE in the fourth quarter worth about $30,000. LFA Lugano Financial Advisors SA lifted its position in shares of NIKE by 110.5% during the fourth quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker’s stock worth $30,000 after purchasing an additional 210 shares in the last quarter. Finally, Hopwood Financial Services Inc. bought a new stake in shares of NIKE during the fourth quarter valued at approximately $30,000. 64.25% of the stock is owned by institutional investors.

Insider Buying and Selling at NIKE

In other NIKE news, Chairman Mark G. Parker sold 169,732 shares of NIKE stock in a transaction on Friday, February 14th. The shares were sold at an average price of $72.83, for a total value of $12,361,581.56. Following the sale, the chairman now directly owns 896,632 shares in the company, valued at approximately $65,301,708.56. The trade was a 15.92 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert Holmes Swan acquired 8,600 shares of the firm’s stock in a transaction dated Friday, April 4th. The stock was purchased at an average cost of $58.46 per share, with a total value of $502,756.00. Following the transaction, the director now owns 31,983 shares in the company, valued at approximately $1,869,726.18. This trade represents a 36.78 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Piper Sandler lowered their price target on shares of NIKE from $90.00 to $70.00 and set an “overweight” rating for the company in a report on Friday, April 11th. Cfra Research upgraded NIKE to a “moderate buy” rating in a research report on Friday, March 21st. Morgan Stanley dropped their target price on NIKE from $72.00 to $70.00 and set an “equal weight” rating for the company in a research report on Friday, March 21st. China Renaissance assumed coverage on NIKE in a research report on Wednesday, March 19th. They set a “hold” rating for the company. Finally, Berenberg Bank assumed coverage on NIKE in a research report on Tuesday, April 15th. They set a “hold” rating and a $58.00 target price for the company. Sixteen equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $82.81.

NIKE Stock Performance

Shares of NKE opened at $57.66 on Monday. The stock has a market capitalization of $85.29 billion, a price-to-earnings ratio of 17.80, a PEG ratio of 2.52 and a beta of 1.15. NIKE, Inc. has a 12 month low of $52.28 and a 12 month high of $98.04. The firm has a fifty day simple moving average of $66.75 and a 200 day simple moving average of $72.88. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $11.27 billion for the quarter, compared to analyst estimates of $11.02 billion. During the same period in the previous year, the business earned $0.98 EPS. The company’s revenue was down 9.1% compared to the same quarter last year. Research analysts forecast that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The firm also recently declared 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 2.77%. NIKE’s payout ratio is currently 53.16%.

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.