Hamilton Point Investment Advisors LLC Sells 938 Shares of NIKE, Inc. (NYSE:NKE)

Hamilton Point Investment Advisors LLC reduced its holdings in NIKE, Inc. (NYSE:NKE) by 1.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 54,188 shares of the footwear maker’s stock after selling 938 shares during the quarter. Hamilton Point Investment Advisors LLC’s holdings in NIKE were worth $4,122,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Garrison Point Advisors LLC raised its stake in NIKE by 1.9% in the third quarter. Garrison Point Advisors LLC now owns 6,704 shares of the footwear maker’s stock worth $593,000 after buying an additional 126 shares in the last quarter. Stephens Consulting LLC grew its holdings in NIKE by 20.0% in the third quarter. Stephens Consulting LLC now owns 768 shares of the footwear maker’s stock worth $68,000 after purchasing an additional 128 shares during the period. PSI Advisors LLC boosted its position in shares of NIKE by 26.3% in the 3rd quarter. PSI Advisors LLC now owns 624 shares of the footwear maker’s stock worth $55,000 after purchasing an additional 130 shares in the last quarter. Chapin Davis Inc. increased its position in NIKE by 1.2% during the 3rd quarter. Chapin Davis Inc. now owns 11,430 shares of the footwear maker’s stock valued at $1,010,000 after buying an additional 133 shares in the last quarter. Finally, Meridian Financial Partners LLC raised its stake in NIKE by 1.6% during the third quarter. Meridian Financial Partners LLC now owns 8,396 shares of the footwear maker’s stock valued at $742,000 after buying an additional 133 shares during the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NKE has been the topic of a number of analyst reports. Piper Sandler upgraded shares of NIKE from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $72.00 to $90.00 in a research note on Friday, January 10th. TD Cowen cut their target price on NIKE from $78.00 to $73.00 and set a “hold” rating on the stock in a research note on Monday, November 18th. Wells Fargo & Company dropped their price objective on NIKE from $95.00 to $92.00 and set an “overweight” rating on the stock in a research report on Monday, December 16th. Robert W. Baird lowered their target price on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a research note on Monday, December 23rd. Finally, JPMorgan Chase & Co. reduced 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. Fourteen equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $89.96.

NIKE Price Performance

NYSE:NKE opened at $78.28 on Friday. The business’s 50-day simple moving average is $75.61 and its two-hundred day simple moving average is $77.95. 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 52 week low of $70.32 and a 52 week high of $107.43. The stock has a market cap of $115.79 billion, a PE ratio of 24.16, a P/E/G ratio of 2.44 and a beta of 1.02.

NIKE (NYSE:NKE) last issued its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.15. The firm had revenue of $12.35 billion during the quarter, compared to analyst estimates of $12.11 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. NIKE’s revenue for the quarter was down 7.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.03 earnings per share. As a group, analysts forecast that NIKE, Inc. will post 2.09 EPS for the current fiscal 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 issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.04%. This is a boost from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date was Monday, December 2nd. NIKE’s payout ratio is 49.38%.

Insider Activity at NIKE

In other NIKE news, Director John W. Rogers, Jr. bought 2,500 shares of the firm’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 of the company’s stock, valued at $2,636,989.95. This represents a 7.84 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.10% of the stock is owned by corporate insiders.

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.