New Hampshire Trust Sells 1,047 Shares of NIKE, Inc. (NYSE:NKE)

by · The Markets Daily

New Hampshire Trust cut its holdings in shares of NIKE, Inc. (NYSE:NKE – Free Report) by 15.9% in the 4th quarter, Holdings Channel reports. The firm owned 5,538 shares of the footwear maker’s stock after selling 1,047 shares during the period. New Hampshire Trust’s holdings in NIKE were worth $419,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of NKE. Teachers Insurance & Annuity Association of America bought a new stake in shares of NIKE during the 3rd quarter worth $30,000. VitalStone Financial LLC lifted its holdings in shares of NIKE by 52.6% in the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock worth $38,000 after acquiring an additional 150 shares during the last quarter. Dunhill Financial LLC boosted its stake in shares of NIKE by 52.2% in the 3rd quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock valued at $44,000 after purchasing an additional 169 shares in the last quarter. Ecofi Investissements SA bought a new stake in shares of NIKE during the 2nd quarter valued at approximately $49,000. Finally, Riverview Trust Co bought a new stake in shares of NIKE during the 3rd quarter valued at approximately $52,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

Insider Activity at NIKE

In other news, Director John W. Rogers, Jr. bought 2,500 shares of the business’s stock in a transaction that occurred on Friday, December 27th. The shares were bought at an average cost of $76.65 per share, for a total transaction 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. This trade represents a 7.84 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

NKE has been the topic of a number of research analyst reports. Telsey Advisory Group lowered shares of NIKE from an “outperform” rating to a “market perform” rating and cut their target price for the company from $93.00 to $80.00 in a research report on Friday, December 20th. TD Cowen cut their price objective on NIKE from $78.00 to $73.00 and set a “hold” rating on the stock in a report on Monday, November 18th. Piper Sandler upgraded NIKE from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $72.00 to $90.00 in a research report on Friday, January 10th. Jefferies Financial Group increased their target price on NIKE from $80.00 to $85.00 and gave the company a “hold” rating in a research report on Monday, September 30th. Finally, Morgan Stanley lowered their price objective on NIKE from $80.00 to $74.00 and set an “equal weight” rating for the company in a research note on Friday, December 20th. Fourteen 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 company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $89.96.

Check Out Our Latest Report on NKE

NIKE Price Performance

NIKE stock opened at $70.89 on Tuesday. The stock has a market capitalization of $104.85 billion, a price-to-earnings ratio of 21.88, a PEG ratio of 2.25 and a beta of 1.02. NIKE, Inc. has a 52-week low of $70.32 and a 52-week high of $107.43. 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 stock’s 50 day moving average price is $75.77 and its two-hundred day moving average price is $77.95.

NIKE (NYSE:NKE – Get Free Report) last issued 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 analyst estimates of $12.11 billion. During the same period in the prior year, the firm earned $1.03 earnings per share. NIKE’s revenue was down 7.7% on a year-over-year basis. On average, equities analysts predict that NIKE, Inc. will post 2.1 earnings per share for the current year.

NIKE Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were paid a $0.40 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This is an increase from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a dividend yield of 2.26%. NIKE’s dividend payout ratio (DPR) is currently 49.38%.

NIKE Profile

(Free Report)

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.

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