NIKE, Inc. (NYSE:NKE) Shares Sold by Agate Pass Investment Management LLC

Agate Pass Investment Management LLC lowered its position in shares of NIKE, Inc. (NYSE:NKE) by 20.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 14,580 shares of the footwear maker’s stock after selling 3,715 shares during the quarter. Agate Pass Investment Management LLC’s holdings in NIKE were worth $1,103,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Range Financial Group LLC acquired a new stake in NIKE in the fourth quarter valued at about $642,000. Cacti Asset Management LLC purchased a new position in shares of NIKE during the 4th quarter worth approximately $9,987,000. ING Groep NV acquired a new stake in shares of NIKE in the 3rd quarter valued at approximately $29,628,000. Confluence Investment Management LLC boosted its stake in shares of NIKE by 6.3% in the fourth quarter. Confluence Investment Management LLC now owns 246,080 shares of the footwear maker’s stock valued at $18,621,000 after buying an additional 14,592 shares in the last quarter. Finally, Everence Capital Management Inc. grew its holdings in NIKE by 128.1% during the fourth quarter. Everence Capital Management Inc. now owns 24,680 shares of the footwear maker’s stock worth $1,868,000 after acquiring an additional 13,860 shares during the period. Institutional investors and hedge funds own 64.25% of the company’s stock.

Analyst Upgrades and Downgrades

NKE has been the subject of a number of recent analyst reports. Telsey Advisory Group downgraded NIKE from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $93.00 to $80.00 in a report on Friday, December 20th. TD Cowen cut their price target on NIKE from $78.00 to $73.00 and set a “hold” rating for the company in a research note on Monday, November 18th. Truist Financial lowered their price objective on shares of NIKE from $97.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. JPMorgan Chase & Co. cut their target price on shares of NIKE from $77.00 to $73.00 and set a “neutral” rating for the company in a research report on Monday, December 2nd. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $84.00 price target on shares of NIKE in a research report on Friday, December 20th. Fourteen equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $89.96.

NIKE Trading Up 1.3 %

NKE traded up $0.92 on Monday, reaching $72.12. 5,790,977 shares of the company’s stock were exchanged, compared to its average volume of 11,343,815. NIKE, Inc. has a twelve month low of $70.75 and a twelve month high of $107.43. The company’s 50 day moving average is $76.29 and its 200-day moving average is $78.25. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36. The company has a market cap of $106.67 billion, a price-to-earnings ratio of 20.66, a PEG ratio of 1.89 and a beta of 1.02.

NIKE (NYSE:NKE) last released its quarterly earnings data 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 10.60% and a return on equity of 39.84%. The company had revenue of $12.35 billion during the quarter, compared to analyst estimates of $12.11 billion. During the same quarter in the prior year, the business earned $1.03 earnings per share. The business’s quarterly revenue was down 7.7% compared to the same quarter last year. Equities analysts predict that NIKE, Inc. will post 2.72 earnings per share for the current year.

NIKE Increases Dividend

The business 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 represents a $1.60 dividend on an annualized basis and a dividend yield of 2.22%. This is a positive change from NIKE’s previous quarterly dividend of $0.37. NIKE’s dividend payout ratio (DPR) is 49.38%.

Insider Activity at NIKE

In other NIKE news, Director John W. Rogers, Jr. purchased 2,500 shares of the business’s stock in a transaction that occurred on Friday, December 27th. The shares were acquired at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the purchase, the director now owns 34,403 shares in the company, valued at $2,636,989.95. The trade was a 7.84 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.10% of the company’s stock.

About NIKE

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.