Tsai Capital Corp Trims Stake in NIKE, Inc. (NYSE:NKE)

Tsai Capital Corp trimmed its holdings in shares of NIKE, Inc. (NYSE:NKE) by 13.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 51,969 shares of the footwear maker’s stock after selling 8,279 shares during the quarter. NIKE accounts for approximately 2.9% of Tsai Capital Corp’s portfolio, making the stock its 11th biggest position. Tsai Capital Corp’s holdings in NIKE were worth $3,932,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of NKE. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in NIKE by 35.6% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 104,300 shares of the footwear maker’s stock valued at $9,220,000 after acquiring an additional 27,400 shares during the period. CreativeOne Wealth LLC boosted its stake in shares of NIKE by 13.5% in the third quarter. CreativeOne Wealth LLC now owns 21,978 shares of the footwear maker’s stock valued at $1,943,000 after purchasing an additional 2,612 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in NIKE by 4.7% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 548,318 shares of the footwear maker’s stock worth $48,471,000 after buying an additional 24,614 shares during the period. Public Sector Pension Investment Board lifted its holdings in NIKE by 9.7% during the 3rd quarter. Public Sector Pension Investment Board now owns 51,000 shares of the footwear maker’s stock worth $4,508,000 after buying an additional 4,500 shares in the last quarter. Finally, Carl P. Sherr & Co. LLC boosted its position in NIKE by 101.8% in the 3rd quarter. Carl P. Sherr & Co. LLC now owns 20,112 shares of the footwear maker’s stock valued at $1,778,000 after buying an additional 10,147 shares during the period. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

NIKE Stock Down 3.8 %

NIKE stock opened at $63.32 on Friday. NIKE, Inc. has a fifty-two week low of $63.14 and a fifty-two week high of $98.04. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. The stock’s fifty day moving average is $74.16 and its two-hundred day moving average is $76.94. The firm has a market capitalization of $93.65 billion, a price-to-earnings ratio of 19.54, a price-to-earnings-growth ratio of 2.52 and a beta of 1.02.

NIKE (NYSE:NKE) last released its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, beating the consensus estimate of $0.28 by $0.26. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The business had revenue of $11.27 billion for the quarter, compared to analyst estimates of $11.02 billion. During the same period in the prior year, the business earned $0.98 earnings per share. The company’s quarterly revenue was down 9.1% on a year-over-year basis. Analysts predict that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be issued a $0.40 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.53%. NIKE’s dividend payout ratio (DPR) is 53.16%.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Truist Financial reduced their price objective on NIKE from $90.00 to $82.00 and set a “buy” rating on the stock in a research note on Friday, March 21st. DA Davidson upgraded NIKE to a “strong-buy” rating in a research note on Monday, December 23rd. BMO Capital Markets cut their target price on shares of NIKE from $95.00 to $92.00 and set an “outperform” rating on the stock in a research note on Friday, March 21st. Piper Sandler upgraded shares of NIKE from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $72.00 to $90.00 in a research note on Friday, January 10th. Finally, Stifel Nicolaus reduced their price objective on shares of NIKE from $79.00 to $75.00 and set a “hold” rating on the stock in a report on Friday, December 20th. Fifteen equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, NIKE presently has a consensus rating of “Moderate Buy” and an average price target of $87.38.

Insider Activity at NIKE

In other NIKE news, Chairman Mark G. Parker sold 169,732 shares of the company’s stock in a transaction dated 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 directly owns 896,632 shares in the company, valued at approximately $65,301,708.56. This represents a 15.92 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.10% of the company’s stock.

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.