Kimelman & Baird LLC Trims Holdings in NIKE, Inc. (NYSE:NKE)

Kimelman & Baird LLC lessened its holdings in shares of NIKE, Inc. (NYSE:NKE) by 5.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 178,175 shares of the footwear maker’s stock after selling 10,133 shares during the period. NIKE comprises approximately 1.1% of Kimelman & Baird LLC’s holdings, making the stock its 29th largest holding. Kimelman & Baird LLC’s holdings in NIKE were worth $13,483,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Provident Co of the Employees of the Hebrew University LTD increased its holdings in NIKE by 159.3% during the 4th quarter. Provident Co of the Employees of the Hebrew University LTD now owns 33,358 shares of the footwear maker’s stock valued at $2,526,000 after purchasing an additional 20,495 shares during the period. Cibc World Markets Corp raised its position in shares of NIKE by 7.2% in the 4th quarter. Cibc World Markets Corp now owns 330,606 shares of the footwear maker’s stock worth $25,017,000 after acquiring an additional 22,338 shares in the last quarter. Arbor Capital Management Inc. ADV raised its position in shares of NIKE by 2.3% in the 4th quarter. Arbor Capital Management Inc. ADV now owns 15,275 shares of the footwear maker’s stock worth $1,169,000 after acquiring an additional 348 shares in the last quarter. IMG Wealth Management Inc. bought a new position in shares of NIKE in the 4th quarter worth approximately $46,000. Finally, Nicholas Company Inc. raised its position in shares of NIKE by 9.3% in the 4th quarter. Nicholas Company Inc. now owns 74,267 shares of the footwear maker’s stock worth $5,620,000 after acquiring an additional 6,297 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Insider Buying and Selling at NIKE

In other NIKE news, Director John W. Rogers, Jr. purchased 2,500 shares of the firm’s stock in a transaction on Friday, December 27th. The shares were acquired at an average cost of $76.65 per share, with a total value of $191,625.00. Following the completion of the acquisition, the director now directly owns 34,403 shares in the company, valued at $2,636,989.95. The trade was a 7.84 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman Mark G. Parker sold 169,732 shares of the firm’s stock in a transaction dated 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. This represents 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

NYSE NKE opened at $71.72 on Monday. The company has a market capitalization of $106.08 billion, a PE ratio of 22.14, a price-to-earnings-growth ratio of 2.52 and a beta of 1.02. 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 business’s fifty day moving average is $74.68 and its 200 day moving average is $77.77. NIKE, Inc. has a fifty-two week low of $68.62 and a fifty-two week high of $101.92.

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

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.23%. NIKE’s dividend payout ratio is presently 49.38%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on NKE. Evercore ISI decreased their target price on NIKE from $105.00 to $97.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. JPMorgan Chase & Co. decreased their target price on NIKE from $77.00 to $73.00 and set a “neutral” rating for the company in a research report on Monday, December 2nd. Dbs Bank raised NIKE from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. Piper Sandler raised NIKE from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $72.00 to $90.00 in a research report on Friday, January 10th. Finally, TD Cowen reduced their price objective on NIKE from $78.00 to $73.00 and set a “hold” rating for the company in a research report on Monday, November 18th. Fourteen analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $89.69.

NIKE 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.