Sanctuary Advisors LLC Sells 7,863 Shares of NIKE, Inc. (NYSE:NKE)

Sanctuary Advisors LLC lessened its stake in NIKE, Inc. (NYSE:NKE) by 6.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 113,322 shares of the footwear maker’s stock after selling 7,863 shares during the period. Sanctuary Advisors LLC’s holdings in NIKE were worth $8,876,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Stratos Wealth Advisors LLC boosted its position in shares of NIKE by 6.7% during the 3rd quarter. Stratos Wealth Advisors LLC now owns 8,104 shares of the footwear maker’s stock valued at $716,000 after purchasing an additional 506 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of NIKE by 187.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 323,993 shares of the footwear maker’s stock valued at $28,641,000 after purchasing an additional 211,461 shares in the last quarter. Horst & Graben Wealth Management LLC boosted its position in shares of NIKE by 2.6% during the 3rd quarter. Horst & Graben Wealth Management LLC now owns 44,351 shares of the footwear maker’s stock valued at $3,921,000 after purchasing an additional 1,138 shares in the last quarter. Raleigh Capital Management Inc. boosted its position in shares of NIKE by 25.5% during the 3rd quarter. Raleigh Capital Management Inc. now owns 3,478 shares of the footwear maker’s stock valued at $307,000 after purchasing an additional 706 shares in the last quarter. Finally, Foundations Investment Advisors LLC boosted its position in shares of NIKE by 26.5% during the 3rd quarter. Foundations Investment Advisors LLC now owns 4,804 shares of the footwear maker’s stock valued at $425,000 after purchasing an additional 1,006 shares in the last quarter. Institutional investors own 64.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on NKE. DA Davidson upgraded NIKE to a “strong-buy” rating in a research report on Monday, December 23rd. Stifel Nicolaus cut their target price on NIKE from $79.00 to $75.00 and set a “hold” rating on the stock in a research report on Friday, December 20th. Citigroup lowered NIKE from a “buy” rating to a “neutral” rating and cut their price target for the stock from $102.00 to $72.00 in a report on Friday, February 7th. TD Cowen cut their price target on NIKE from $78.00 to $73.00 and set a “hold” rating on the stock in a report on Monday, November 18th. Finally, Robert W. Baird cut their price target on NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a report on Monday, December 23rd. Fifteen research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $88.62.

Insiders Place Their Bets

In related news, Director John W. Rogers, Jr. purchased 2,500 shares of the business’s stock in a transaction dated Friday, December 27th. The stock was purchased at an average cost of $76.65 per share, with a total value of $191,625.00. Following the completion of the acquisition, the director now directly owns 34,403 shares of the company’s stock, valued at approximately $2,636,989.95. The trade was a 7.84 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Mark G. Parker sold 169,732 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $72.83, for a total value of $12,361,581.56. Following the completion of the transaction, the chairman now directly owns 896,632 shares of the company’s stock, valued at $65,301,708.56. The trade was a 15.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.10% of the company’s stock.

NIKE Stock Performance

NYSE:NKE opened at $77.54 on Wednesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. The business has a fifty day simple moving average of $74.37 and a two-hundred day simple moving average of $78.04. NIKE, Inc. has a 1 year low of $68.62 and a 1 year high of $106.62. The company has a market capitalization of $114.70 billion, a P/E ratio of 23.93, a P/E/G ratio of 2.34 and a beta of 1.01.

NIKE (NYSE:NKE) last released its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, topping 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 business had revenue of $12.35 billion during the quarter, compared to the consensus estimate of $12.11 billion. During the same period last year, the business posted $1.03 earnings per share. The business’s revenue for the quarter was down 7.7% on a year-over-year basis. On average, analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date of this dividend is Monday, March 3rd. NIKE’s dividend payout ratio is currently 49.38%.

NIKE Company Profile

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.