Voya Financial Advisors Inc. lowered its stake in shares of NIKE, Inc. (NYSE:NKE) by 23.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 4,893 shares of the footwear maker’s stock after selling 1,533 shares during the quarter. Voya Financial Advisors Inc.’s holdings in NIKE were worth $693,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Key Financial Inc bought a new position in shares of NIKE during the 4th quarter valued at approximately $25,000. Tsfg LLC increased its position in shares of NIKE by 583.3% during the 4th quarter. Tsfg LLC now owns 205 shares of the footwear maker’s stock valued at $29,000 after purchasing an additional 175 shares during the last quarter. Addison Advisors LLC bought a new position in shares of NIKE during the 4th quarter valued at approximately $30,000. DB Wealth Management Group LLC bought a new position in shares of NIKE during the 4th quarter valued at approximately $30,000. Finally, Joseph P. Lucia & Associates LLC bought a new position in shares of NIKE during the 4th quarter valued at approximately $32,000. 64.20% of the stock is currently owned by hedge funds and other institutional investors.
In other NIKE news, Chairman Mark G. Parker sold 114,094 shares of the company’s stock in a transaction that occurred on Friday, March 26th. The shares were sold at an average price of $130.67, for a total transaction of $14,908,662.98. Following the transaction, the chairman now owns 1,537,729 shares in the company, valued at approximately $200,935,048.43. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 3.80% of the stock is owned by company insiders.
NIKE (NYSE:NKE) last released its quarterly earnings results on Wednesday, March 17th. The footwear maker reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.15. NIKE had a return on equity of 34.89% and a net margin of 7.39%. The company had revenue of $10.40 billion during the quarter, compared to analysts’ expectations of $10.98 billion. During the same period last year, the business posted $0.78 earnings per share. The firm’s revenue was up 2.9% compared to the same quarter last year. As a group, equities research analysts anticipate that NIKE, Inc. will post 2.96 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 1st. Investors of record on Monday, March 1st were given a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 0.81%. The ex-dividend date of this dividend was Friday, February 26th. NIKE’s payout ratio is currently 59.46%.
Several equities analysts have commented on NKE shares. Pivotal Research upped their price objective on NIKE from $160.00 to $167.00 and gave the company a “buy” rating in a research report on Tuesday, March 16th. Piper Sandler upped their price objective on NIKE from $168.00 to $170.00 and gave the company an “overweight” rating in a research report on Monday, March 22nd. Barclays reaffirmed a “buy” rating and issued a $174.00 price objective on shares of NIKE in a research report on Friday, March 19th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upped their price objective on NIKE from $137.00 to $157.00 in a research report on Monday, December 21st. Finally, Royal Bank of Canada upped their price objective on NIKE from $160.00 to $165.00 and gave the company an “outperform” rating in a research report on Thursday, March 25th. One analyst has rated the stock with a sell rating, two have issued a hold rating and thirty-one have issued a buy rating to the company. NIKE has a consensus rating of “Buy” and an average price target of $159.89.
NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories, including running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, golf, lacrosse, skateboarding, tennis, volleyball, walking, wrestling, and other outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.
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