Advisor OS LLC Lowers Holdings in NIKE, Inc. (NYSE:NKE)

Advisor OS LLC trimmed its position in NIKE, Inc. (NYSE:NKE) by 11.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,333 shares of the footwear maker’s stock after selling 571 shares during the quarter. Advisor OS LLC’s holdings in NIKE were worth $328,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Kirtland Hills Capital Management LLC lifted its holdings in shares of NIKE by 33.9% in the 4th quarter. Kirtland Hills Capital Management LLC now owns 19,038 shares of the footwear maker’s stock worth $1,441,000 after buying an additional 4,819 shares during the period. Gray Foundation purchased a new stake in shares of NIKE in the 4th quarter worth $545,000. Illinois Municipal Retirement Fund lifted its holdings in shares of NIKE by 2.7% in the 4th quarter. Illinois Municipal Retirement Fund now owns 149,644 shares of the footwear maker’s stock worth $11,324,000 after buying an additional 3,995 shares during the period. Los Angeles Capital Management LLC lifted its stake in shares of NIKE by 0.5% during the 4th quarter. Los Angeles Capital Management LLC now owns 104,494 shares of the footwear maker’s stock worth $7,907,000 after purchasing an additional 513 shares during the last quarter. Finally, FourThought Financial Partners LLC purchased a new stake in shares of NIKE during the 4th quarter worth $332,000. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Citigroup cut NIKE from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $102.00 to $72.00 in a research note on Friday, February 7th. Needham & Company LLC restated a “buy” rating and set a $84.00 price objective on shares of NIKE in a research note on Friday, February 7th. Jefferies Financial Group upgraded NIKE from a “hold” rating to a “buy” rating and upped their price objective for the stock from $75.00 to $115.00 in a research note on Monday. Piper Sandler upgraded NIKE from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $72.00 to $90.00 in a research note on Friday, January 10th. Finally, TD Cowen decreased their price objective on NIKE from $78.00 to $73.00 and set a “hold” rating for the company in a research note on Monday, November 18th. Fourteen investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, NIKE currently has an average rating of “Moderate Buy” and a consensus target price of $89.77.

NIKE Stock Down 1.6 %

Shares of NKE stock opened at $79.86 on Friday. NIKE, Inc. has a fifty-two week low of $68.62 and a fifty-two week high of $105.57. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. The firm has a market capitalization of $118.13 billion, a PE ratio of 24.65, a P/E/G ratio of 2.52 and a beta of 1.01. The stock’s 50-day simple moving average is $74.59 and its 200-day simple moving average is $78.29.

NIKE (NYSE:NKE) last issued its 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. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The firm had revenue of $12.35 billion for the quarter, compared to the consensus estimate of $12.11 billion. During the same quarter in the prior year, the business earned $1.03 earnings per share. The company’s revenue was down 7.7% compared to the same quarter last year. Equities analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be paid a $0.40 dividend. The ex-dividend date is Monday, March 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.00%. NIKE’s payout ratio is 49.38%.

Insider Transactions at NIKE

In other NIKE news, Chairman Mark G. Parker sold 169,732 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the transaction, the chairman now owns 896,632 shares in the company, valued at approximately $65,301,708.56. This represents a 15.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John W. Rogers, Jr. purchased 2,500 shares of the stock in a transaction on Friday, December 27th. The shares were acquired at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the transaction, the director now directly owns 34,403 shares of the company’s stock, valued at $2,636,989.95. This represents a 7.84 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.10% of the company’s stock.

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.