North Star Asset Management Inc. Sells 23,550 Shares of NIKE, Inc. $NKE

North Star Asset Management Inc. lessened its holdings in shares of NIKE, Inc. (NYSE:NKE) by 28.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 59,698 shares of the footwear maker’s stock after selling 23,550 shares during the quarter. North Star Asset Management Inc.’s holdings in NIKE were worth $3,803,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of NKE. Brighton Jones LLC increased its stake in NIKE by 388.5% during the 4th quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker’s stock valued at $15,316,000 after purchasing an additional 160,980 shares in the last quarter. Caxton Associates LLP bought a new stake in NIKE during the 1st quarter valued at $311,000. United Bank increased its stake in NIKE by 11.3% during the 2nd quarter. United Bank now owns 17,067 shares of the footwear maker’s stock valued at $1,212,000 after purchasing an additional 1,736 shares in the last quarter. NewEdge Advisors LLC increased its stake in NIKE by 0.3% during the 2nd quarter. NewEdge Advisors LLC now owns 64,161 shares of the footwear maker’s stock valued at $4,558,000 after purchasing an additional 197 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its holdings in NIKE by 6.5% during the 2nd quarter. CIBC Asset Management Inc now owns 191,268 shares of the footwear maker’s stock worth $13,588,000 after acquiring an additional 11,646 shares during the last quarter. Institutional investors own 64.25% of the company’s stock.

Wall Street Analysts Forecast Growth

NKE has been the topic of a number of analyst reports. Truist Financial cut their price objective on shares of NIKE from $69.00 to $57.00 and set a “buy” rating on the stock in a report on Wednesday, April 1st. China Renaissance cut their price objective on shares of NIKE from $74.60 to $50.30 and set a “hold” rating on the stock in a report on Thursday, April 2nd. Williams Trading cut their price objective on shares of NIKE from $80.00 to $57.00 and set a “buy” rating on the stock in a report on Wednesday, April 1st. Jefferies Financial Group cut their price objective on shares of NIKE from $110.00 to $90.00 and set a “buy” rating on the stock in a report on Wednesday, April 1st. Finally, Stifel Nicolaus cut their price objective on shares of NIKE from $65.00 to $56.00 and set a “hold” rating on the stock in a report on Wednesday, April 1st. Sixteen research analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $62.04.

Insider Activity at NIKE

In related news, Director Robert Holmes Swan purchased 11,781 shares of the business’s stock in a transaction that occurred on Tuesday, April 7th. The shares were bought at an average cost of $42.44 per share, with a total value of $499,985.64. Following the acquisition, the director owned 55,074 shares of the company’s stock, valued at $2,337,340.56. This represents a 27.21% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director John W. Rogers, Jr. acquired 4,000 shares of the company’s stock in a transaction on Thursday, April 9th. The shares were acquired at an average cost of $43.34 per share, for a total transaction of $173,360.00. Following the completion of the acquisition, the director owned 41,022 shares of the company’s stock, valued at approximately $1,777,893.48. The trade was a 10.80% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders purchased a total of 64,441 shares of company stock valued at $2,734,204 over the last quarter. Corporate insiders own 0.80% of the company’s stock.

NIKE Price Performance

Shares of NYSE:NKE opened at $44.70 on Friday. The company’s 50-day moving average is $46.59 and its 200 day moving average is $57.32. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.45 and a current ratio of 2.14. The company has a market capitalization of $66.20 billion, a P/E ratio of 29.60, a price-to-earnings-growth ratio of 2.37 and a beta of 1.12. NIKE, Inc. has a fifty-two week low of $41.35 and a fifty-two week high of $80.17.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Tuesday, March 31st. The footwear maker reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.06. The company had revenue of $11.28 billion for the quarter, compared to the consensus estimate of $11.23 billion. NIKE had a net margin of 4.84% and a return on equity of 16.41%. The firm’s quarterly revenue was up .1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.54 EPS. On average, equities research analysts forecast that NIKE, Inc. will post 1.51 earnings per share for the current year.

NIKE Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend is Monday, June 1st. NIKE’s payout ratio is 108.61%.

About NIKE

Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).