Stiles Financial Services Inc Has $518,000 Stock Holdings in NIKE, Inc. (NYSE:NKE)

Stiles Financial Services Inc reduced its position in shares of NIKE, Inc. (NYSE:NKE) by 42.5% in the 4th quarter, Holdings Channel reports. The firm owned 6,848 shares of the footwear maker’s stock after selling 5,064 shares during the period. Stiles Financial Services Inc’s holdings in NIKE were worth $518,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Garrison Point Advisors LLC increased its stake in shares of NIKE by 1.9% in the third quarter. Garrison Point Advisors LLC now owns 6,704 shares of the footwear maker’s stock worth $593,000 after purchasing an additional 126 shares in the last quarter. Stephens Consulting LLC boosted its holdings in NIKE by 20.0% in the 3rd quarter. Stephens Consulting LLC now owns 768 shares of the footwear maker’s stock worth $68,000 after buying an additional 128 shares during the period. PSI Advisors LLC grew its stake in NIKE by 26.3% in the 3rd quarter. PSI Advisors LLC now owns 624 shares of the footwear maker’s stock valued at $55,000 after buying an additional 130 shares in the last quarter. Meridian Financial Partners LLC raised its holdings in NIKE by 1.6% during the 3rd quarter. Meridian Financial Partners LLC now owns 8,396 shares of the footwear maker’s stock valued at $742,000 after acquiring an additional 133 shares during the period. Finally, Frisch Financial Group Inc. lifted its position in shares of NIKE by 4.7% during the third quarter. Frisch Financial Group Inc. now owns 3,036 shares of the footwear maker’s stock worth $269,000 after acquiring an additional 136 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on NKE. Royal Bank of Canada reduced their price target on NIKE from $82.00 to $80.00 and set a “sector perform” rating for the company in a research report on Thursday, November 7th. TD Cowen reduced their target price on NIKE from $78.00 to $73.00 and set a “hold” rating for the company in a report on Monday, November 18th. Stifel Nicolaus lowered their price target on shares of NIKE from $79.00 to $75.00 and set a “hold” rating on the stock in a report on Friday, December 20th. Piper Sandler raised shares of NIKE from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $72.00 to $90.00 in a research note on Friday, January 10th. Finally, Barclays lowered their target price on shares of NIKE from $79.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Friday, December 20th. Fifteen equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $88.62.

NIKE Trading Down 4.3 %

Shares of NKE opened at $68.69 on Monday. 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 $68.62 and a fifty-two week high of $107.43. The firm has a 50 day moving average price of $75.12 and a 200-day moving average price of $78.04. The firm has a market cap of $101.60 billion, a price-to-earnings ratio of 21.20, a PEG ratio of 2.34 and a beta of 1.01.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.15. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The business had revenue of $12.35 billion during the quarter, compared to the consensus estimate of $12.11 billion. During the same period in the previous year, the firm posted $1.03 earnings per share. The firm’s revenue for the quarter was down 7.7% on a year-over-year basis. As a group, equities research analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were issued a dividend of $0.40 per share. The ex-dividend date was Monday, December 2nd. This is a boost from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a yield of 2.33%. NIKE’s dividend payout ratio is currently 49.38%.

Insider Buying and Selling

In other news, Director John W. Rogers, Jr. purchased 2,500 shares of the company’s stock in a transaction on Friday, December 27th. The stock was acquired at an average price of $76.65 per share, with a total value of $191,625.00. Following the transaction, the director now directly owns 34,403 shares of the company’s stock, valued at approximately $2,636,989.95. This represents a 7.84 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.10% of the stock is owned by corporate insiders.

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.