Adirondack Trust Co. Sells 1,005 Shares of NIKE, Inc. (NYSE:NKE)

Adirondack Trust Co. decreased its stake in NIKE, Inc. (NYSE:NKE) by 20.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,911 shares of the footwear maker’s stock after selling 1,005 shares during the period. Adirondack Trust Co.’s holdings in NIKE were worth $296,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NKE. Public Sector Pension Investment Board grew its position in NIKE by 71.5% during the 2nd quarter. Public Sector Pension Investment Board now owns 46,500 shares of the footwear maker’s stock worth $3,505,000 after acquiring an additional 19,390 shares during the last quarter. NBW Capital LLC boosted its stake in shares of NIKE by 33.8% during the second quarter. NBW Capital LLC now owns 63,614 shares of the footwear maker’s stock valued at $4,795,000 after purchasing an additional 16,075 shares in the last quarter. EDENTREE ASSET MANAGEMENT Ltd grew its holdings in shares of NIKE by 7.6% during the second quarter. EDENTREE ASSET MANAGEMENT Ltd now owns 132,074 shares of the footwear maker’s stock worth $9,953,000 after purchasing an additional 9,350 shares during the last quarter. DoubleLine ETF Adviser LP acquired a new position in shares of NIKE in the second quarter valued at approximately $2,454,000. Finally, Delta Investment Management LLC raised its holdings in NIKE by 179.5% in the 2nd quarter. Delta Investment Management LLC now owns 8,233 shares of the footwear maker’s stock valued at $621,000 after buying an additional 5,287 shares during the last quarter. Institutional investors own 64.25% of the company’s stock.

NIKE Trading Up 1.2 %

Shares of NKE opened at $74.07 on Thursday. The business’s 50-day moving average price is $75.54 and its 200-day moving average price is $77.88. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a twelve month low of $70.32 and a twelve month high of $107.43. The stock has a market cap of $109.56 billion, a PE ratio of 22.86, a P/E/G ratio of 2.33 and a beta of 1.02.

NIKE (NYSE:NKE) last posted its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) 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 for the quarter, compared to analysts’ expectations of $12.11 billion. During the same period in the prior year, the company posted $1.03 EPS. The business’s revenue for the quarter was down 7.7% compared to the same quarter last year. On average, equities analysts forecast that NIKE, Inc. will post 2.1 EPS for the current fiscal year.

NIKE Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.16%. This is a positive change from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date was Monday, December 2nd. NIKE’s dividend payout ratio is presently 49.38%.

Insider Buying and Selling at NIKE

In other NIKE news, Director John W. Rogers, Jr. acquired 2,500 shares of the business’s stock in a transaction dated Friday, December 27th. The shares were purchased at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following 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 ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

NKE has been the topic of a number of recent analyst reports. Truist Financial dropped their price target on shares of NIKE from $97.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. JPMorgan Chase & Co. decreased their price target on shares of NIKE from $77.00 to $73.00 and set a “neutral” rating for the company in a research note on Monday, December 2nd. Evercore ISI dropped their price objective on shares of NIKE from $105.00 to $97.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. Robert W. Baird decreased their target price on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a research report on Monday, December 23rd. Finally, Piper Sandler raised shares of NIKE from a “neutral” rating to an “overweight” rating and raised their price target for the company from $72.00 to $90.00 in a research report on Friday, January 10th. Fourteen equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.96.

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.