abrdn plc Has $82.06 Million Stock Position in NIKE, Inc. (NYSE:NKE)

abrdn plc lessened its holdings in shares of NIKE, Inc. (NYSE:NKE) by 1.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,086,599 shares of the footwear maker’s stock after selling 14,431 shares during the quarter. abrdn plc owned 0.07% of NIKE worth $82,060,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in NKE. Teachers Insurance & Annuity Association of America bought a new position in shares of NIKE during the 3rd quarter valued at about $30,000. Heck Capital Advisors LLC bought a new position in NIKE in the fourth quarter valued at approximately $28,000. VitalStone Financial LLC boosted 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 valued at $38,000 after buying an additional 150 shares during the period. Dunhill Financial LLC increased its position in shares of NIKE by 52.2% during the third quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock worth $44,000 after acquiring an additional 169 shares in the last quarter. Finally, Riverview Trust Co acquired a new stake in shares of NIKE during the third quarter worth $52,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

Insider Buying and Selling

In other news, Director John W. Rogers, Jr. acquired 2,500 shares of the stock in a transaction on Friday, December 27th. The shares were purchased at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the transaction, the director now directly owns 34,403 shares of the company’s stock, valued at approximately $2,636,989.95. This represents 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 link. 1.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

NKE has been the subject of a number of research analyst reports. TD Cowen reduced their target price on shares of NIKE from $78.00 to $73.00 and set a “hold” rating for the company in a research note on Monday, November 18th. Royal Bank of Canada reduced their price objective on NIKE from $82.00 to $80.00 and set a “sector perform” rating for the company in a research report on Thursday, November 7th. JPMorgan Chase & Co. cut their target price on NIKE from $77.00 to $73.00 and set a “neutral” rating on the stock in a research note on Monday, December 2nd. Piper Sandler raised shares of NIKE from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $72.00 to $90.00 in a research note on Friday, January 10th. Finally, DA Davidson raised shares of NIKE to a “strong-buy” rating in a research report on Monday, December 23rd. Fourteen investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $89.77.

NIKE Price Performance

NYSE:NKE opened at $76.79 on Wednesday. The company has a market cap of $113.57 billion, a P/E ratio of 23.70, a P/E/G ratio of 2.50 and a beta of 1.01. The firm’s fifty day moving average price is $75.54 and its two-hundred day moving average price is $78.09. NIKE, Inc. has a one year low of $70.32 and a one year high of $107.43. 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 announced its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.15. The business had revenue of $12.35 billion for 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 quarterly revenue was down 7.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.03 EPS. Equities analysts expect that NIKE, Inc. will post 2.05 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 dividend of $0.40 per share. The ex-dividend date was Monday, December 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.08%. This is a positive change from NIKE’s previous quarterly dividend of $0.37. NIKE’s dividend payout ratio (DPR) is 49.38%.

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.