NIKE, Inc. (NYSE:NKE) Shares Sold by Diversify Advisory Services LLC

Diversify Advisory Services LLC trimmed its holdings in NIKE, Inc. (NYSE:NKE) by 72.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 8,623 shares of the footwear maker’s stock after selling 22,511 shares during the period. Diversify Advisory Services LLC’s holdings in NIKE were worth $614,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Loomis Sayles & Co. L P lifted its position in shares of NIKE by 1,209,638.7% in the third quarter. Loomis Sayles & Co. L P now owns 6,508,394 shares of the footwear maker’s stock valued at $575,342,000 after acquiring an additional 6,507,856 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in NIKE by 358.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 3,015,267 shares of the footwear maker’s stock valued at $228,165,000 after purchasing an additional 2,357,745 shares during the last quarter. State Street Corp lifted its holdings in NIKE by 3.3% in the 3rd quarter. State Street Corp now owns 57,916,789 shares of the footwear maker’s stock valued at $5,140,796,000 after purchasing an additional 1,862,021 shares in the last quarter. Holocene Advisors LP acquired a new stake in shares of NIKE during the 3rd quarter worth about $148,635,000. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of NIKE during the third quarter worth about $144,927,000. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director John W. Rogers, Jr. acquired 2,500 shares of the company’s stock in a transaction that occurred on Friday, December 27th. The shares were acquired at an average price of $76.65 per share, with a total value of $191,625.00. Following the acquisition, the director now directly owns 34,403 shares in the company, valued at approximately $2,636,989.95. The trade was 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 accessible through this hyperlink. Company insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Royal Bank of Canada dropped their target price on NIKE from $82.00 to $80.00 and set a “sector perform” rating for the company in a research note on Thursday, November 7th. Jefferies Financial Group upped their price objective on shares of NIKE from $80.00 to $85.00 and gave the company a “hold” rating in a research note on Monday, September 30th. Truist Financial decreased their target price 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. Robert W. Baird dropped their price target 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 upgraded NIKE from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $72.00 to $90.00 in a report on Friday, January 10th. Fourteen 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. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $89.96.

NIKE Price Performance

Shares of NKE stock opened at $73.22 on Wednesday. The firm has a market cap of $108.30 billion, a P/E ratio of 22.60, a P/E/G ratio of 2.25 and a beta of 1.02. NIKE, Inc. has a 1-year low of $70.32 and a 1-year high of $107.43. The firm has a fifty day moving average of $75.66 and a two-hundred day moving average of $77.92. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.15. The business had revenue of $12.35 billion during 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%. The business’s quarterly revenue was down 7.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.03 EPS. As a group, research analysts anticipate that NIKE, Inc. will post 2.1 earnings per share for the current fiscal year.

NIKE Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were given a $0.40 dividend. This is an increase from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date was Monday, December 2nd. NIKE’s dividend payout ratio (DPR) is presently 49.38%.

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.