DORCHESTER WEALTH MANAGEMENT Co Has $2.39 Million Stake in NIKE, Inc. (NYSE:NKE)

DORCHESTER WEALTH MANAGEMENT Co lowered its stake in NIKE, Inc. (NYSE:NKE) by 3.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 31,517 shares of the footwear maker’s stock after selling 1,140 shares during the quarter. DORCHESTER WEALTH MANAGEMENT Co’s holdings in NIKE were worth $2,385,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Heck Capital Advisors LLC bought a new position in NIKE during the fourth quarter worth about $28,000. Caitlin John LLC boosted its holdings in shares of NIKE by 117.0% during 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 during the period. Teachers Insurance & Annuity Association of America bought a new stake in shares of NIKE during the third quarter worth approximately $30,000. Roxbury Financial LLC bought a new stake in shares of NIKE in the fourth quarter valued at approximately $30,000. Finally, Bank of Jackson Hole Trust bought a new stake in shares of NIKE in the fourth quarter valued at approximately $43,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

Insider Buying and Selling at NIKE

In other news, Director John W. Rogers, Jr. purchased 2,500 shares of the firm’s stock in a transaction on Friday, December 27th. The stock was acquired at an average cost of $76.65 per share, with a total value of $191,625.00. Following the completion of the transaction, the director now owns 34,403 shares in the company, valued at $2,636,989.95. This represents a 7.84 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman Mark G. Parker sold 169,732 shares of the 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 sale, the chairman now directly owns 896,632 shares of the company’s stock, valued at approximately $65,301,708.56. The trade was a 15.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

NIKE Price Performance

NKE stock opened at $76.50 on Friday. The company’s fifty day moving average price is $74.31 and its 200-day moving average price is $78.13. NIKE, Inc. has a one year low of $68.62 and a one year high of $106.62. The company has a market capitalization of $113.15 billion, a PE ratio of 23.61, a price-to-earnings-growth ratio of 2.52 and a beta of 1.01. 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 (NYSE:NKE) last posted its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.15. The firm had revenue of $12.35 billion for the quarter, compared to analysts’ expectations of $12.11 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The business’s revenue for the quarter was down 7.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.03 earnings per share. On average, equities analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.09%. The ex-dividend date is Monday, March 3rd. NIKE’s payout ratio is 49.38%.

Wall Street Analyst Weigh In

Several research analysts have commented on NKE shares. Stifel Nicolaus lowered their price objective on shares of NIKE from $79.00 to $75.00 and set a “hold” rating for the company in a research report on Friday, December 20th. Piper Sandler upgraded NIKE from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $72.00 to $90.00 in a report on Friday, January 10th. Wells Fargo & Company decreased their price objective on NIKE from $95.00 to $92.00 and set an “overweight” rating for the company in a report on Monday, December 16th. Evercore ISI cut their price target on shares of NIKE from $105.00 to $97.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. Finally, Citigroup cut shares of NIKE from a “buy” rating to a “neutral” rating and cut their price target for the company from $102.00 to $72.00 in a research report on Friday, February 7th. Fifteen equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $88.62.

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.