Atlantic Union Bankshares Corp Cuts Stock Holdings in NIKE, Inc. (NYSE:NKE)

Atlantic Union Bankshares Corp lowered its stake in shares of NIKE, Inc. (NYSE:NKE) by 12.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,575 shares of the footwear maker’s stock after selling 3,961 shares during the period. Atlantic Union Bankshares Corp’s holdings in NIKE were worth $2,087,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. State Street Corp raised its stake in NIKE by 3.3% during the third quarter. State Street Corp now owns 57,916,789 shares of the footwear maker’s stock worth $5,140,796,000 after purchasing an additional 1,862,021 shares during the period. Wellington Management Group LLP raised its stake in NIKE by 5.1% during the third quarter. Wellington Management Group LLP now owns 27,442,145 shares of the footwear maker’s stock worth $2,425,886,000 after purchasing an additional 1,343,093 shares during the period. Geode Capital Management LLC raised its stake in NIKE by 1.0% during the third quarter. Geode Capital Management LLC now owns 25,029,380 shares of the footwear maker’s stock worth $2,204,451,000 after purchasing an additional 251,411 shares during the period. Bank of New York Mellon Corp raised its stake in shares of NIKE by 18.1% in the 4th quarter. Bank of New York Mellon Corp now owns 20,367,993 shares of the footwear maker’s stock valued at $1,541,246,000 after acquiring an additional 3,121,929 shares during the period. Finally, Fisher Asset Management LLC raised its stake in shares of NIKE by 6.0% in the 3rd quarter. Fisher Asset Management LLC now owns 10,303,182 shares of the footwear maker’s stock valued at $910,801,000 after acquiring an additional 583,207 shares during the period. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Insider Transactions at NIKE

In other news, Chairman Mark G. Parker sold 169,732 shares of NIKE stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $72.83, for a total value of $12,361,581.56. Following the transaction, the chairman now owns 896,632 shares of the company’s stock, valued at $65,301,708.56. The trade was a 15.92 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director John W. Rogers, Jr. acquired 2,500 shares of the stock in a transaction dated Friday, December 27th. The stock was acquired at an average cost 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 approximately $2,636,989.95. The trade was a 7.84 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 1.10% of the company’s stock.

NIKE Stock Up 1.3 %

NKE stock opened at $78.68 on Friday. NIKE, Inc. has a 52 week low of $68.62 and a 52 week high of $102.49. The company has a market capitalization of $116.38 billion, a price-to-earnings ratio of 24.28, a price-to-earnings-growth ratio of 2.52 and a beta of 1.02. The firm’s 50-day moving average is $74.76 and its two-hundred day moving average is $78.18. 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 (NYSE:NKE) last released its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.15. The company had revenue of $12.35 billion for the quarter, compared to the consensus estimate of $12.11 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. NIKE’s revenue was down 7.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.03 EPS. On average, analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be paid a $0.40 dividend. The ex-dividend date is Monday, March 3rd. This represents a $1.60 annualized dividend and a dividend yield of 2.03%. NIKE’s dividend payout ratio is currently 49.38%.

Analyst Ratings Changes

A number of brokerages have recently commented on NKE. BMO Capital Markets raised their target price on shares of NIKE from $92.00 to $95.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd. Bank of America cut their target price on shares of NIKE from $95.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Stifel Nicolaus cut their target price on shares of NIKE from $79.00 to $75.00 and set a “hold” rating on the stock in a research note on Friday, December 20th. Piper Sandler raised shares of NIKE from a “neutral” rating to an “overweight” rating and raised their target price for the company from $72.00 to $90.00 in a research note on Friday, January 10th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of NIKE from $92.00 to $82.00 and set a “buy” rating on the stock in a research note on Monday, December 16th. Fourteen research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $89.77.

NIKE 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.