Violich Capital Management Inc. Sells 58,395 Shares of NIKE, Inc. (NYSE:NKE)

Violich Capital Management Inc. decreased its holdings in shares of NIKE, Inc. (NYSE:NKE) by 42.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 79,006 shares of the footwear maker’s stock after selling 58,395 shares during the period. NIKE makes up about 0.8% of Violich Capital Management Inc.’s portfolio, making the stock its 29th largest position. Violich Capital Management Inc.’s holdings in NIKE were worth $5,978,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in NKE. Heck Capital Advisors LLC purchased a new stake in shares of NIKE in the fourth quarter valued at about $28,000. Caitlin John LLC grew its holdings in shares of NIKE by 117.0% in the fourth quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock valued at $28,000 after acquiring an additional 200 shares in the last quarter. Teachers Insurance & Annuity Association of America purchased a new stake in shares of NIKE during the third quarter valued at approximately $30,000. VitalStone Financial LLC lifted its holdings in NIKE by 52.6% during 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 period. Finally, Dunhill Financial LLC boosted its position in NIKE by 52.2% in the third quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock worth $44,000 after purchasing an additional 169 shares during the last quarter. 64.25% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on NKE shares. Wells Fargo & Company lowered their target price on NIKE from $95.00 to $92.00 and set an “overweight” rating on the stock in a research note on Monday, December 16th. Barclays dropped their target price on shares of NIKE from $79.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Friday, December 20th. Piper Sandler upgraded 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. Stifel Nicolaus dropped their price objective on NIKE from $79.00 to $75.00 and set a “hold” rating on the stock in a research note on Friday, December 20th. Finally, UBS Group reissued a “neutral” rating and issued a $73.00 target price on shares of NIKE in a research report on Thursday, December 26th. Fifteen investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $88.62.

NIKE Price Performance

Shares of NIKE stock opened at $70.90 on Tuesday. The firm has a market capitalization of $104.88 billion, a PE ratio of 21.88, a price-to-earnings-growth ratio of 2.34 and a beta of 1.01. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a 12 month low of $68.62 and a 12 month high of $107.43. The business’s 50-day moving average price is $75.12 and its 200-day moving average price is $78.09.

NIKE (NYSE:NKE) last released its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.15. NIKE had a return on equity of 36.99% and a net margin of 9.98%. 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 previous year, the company posted $1.03 EPS. NIKE’s revenue for the quarter was down 7.7% on a year-over-year basis. Sell-side analysts forecast that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were issued a $0.40 dividend. The ex-dividend date was Monday, December 2nd. This represents a $1.60 annualized dividend and a yield of 2.26%. This is a boost from NIKE’s previous quarterly dividend of $0.37. NIKE’s dividend payout ratio (DPR) is 49.38%.

Insider Activity at NIKE

In other news, Director John W. Rogers, Jr. bought 2,500 shares of the stock in a transaction dated Friday, December 27th. The stock was bought at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the purchase, the director now directly owns 34,403 shares in the company, valued at $2,636,989.95. This trade represents a 7.84 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.10% of the stock is currently owned by company 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.