Camelot Portfolios LLC Decreases Stake in NIKE, Inc. (NYSE:NKE)

Camelot Portfolios LLC lowered its position in NIKE, Inc. (NYSE:NKE) by 5.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,342 shares of the footwear maker’s stock after selling 506 shares during the period. Camelot Portfolios LLC’s holdings in NIKE were worth $631,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Range Financial Group LLC purchased a new position in shares of NIKE in the fourth quarter valued at $642,000. Cacti Asset Management LLC purchased a new position in NIKE during the 4th quarter valued at about $9,987,000. Capricorn Fund Managers Ltd acquired a new position in NIKE during the fourth quarter worth about $5,384,000. Klein Pavlis & Peasley Financial Inc. lifted its holdings in shares of NIKE by 31.1% in the fourth quarter. Klein Pavlis & Peasley Financial Inc. now owns 25,835 shares of the footwear maker’s stock valued at $1,955,000 after purchasing an additional 6,124 shares in the last quarter. Finally, FNY Investment Advisers LLC lifted its holdings in shares of NIKE by 5,745.9% in the fourth quarter. FNY Investment Advisers LLC now owns 8,652 shares of the footwear maker’s stock valued at $654,000 after purchasing an additional 8,504 shares in the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

NIKE Stock Down 0.9 %

Shares of NYSE:NKE opened at $76.50 on Friday. The company has a market capitalization of $113.15 billion, a price-to-earnings ratio of 23.61, a price-to-earnings-growth ratio of 2.50 and a beta of 1.01. The company has a 50 day moving average of $74.31 and a two-hundred day moving average of $78.09. NIKE, Inc. has a 52-week low of $68.62 and a 52-week high of $106.62. The company has a quick ratio of 1.51, a current ratio of 2.22 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 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.15. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The business had revenue of $12.35 billion during the quarter, compared to analyst estimates of $12.11 billion. During the same period last year, the business earned $1.03 EPS. The business’s revenue was down 7.7% on a year-over-year basis. As a group, analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.09%. The ex-dividend date of this dividend is Monday, March 3rd. NIKE’s dividend payout ratio (DPR) is 49.38%.

Insider Activity at NIKE

In related news, Chairman Mark G. Parker sold 169,732 shares of the company’s stock in a transaction 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 sale, the chairman now directly owns 896,632 shares of the company’s stock, valued at $65,301,708.56. This represents a 15.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John W. Rogers, Jr. acquired 2,500 shares of the firm’s stock in a transaction on Friday, December 27th. The shares were bought 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 owns 34,403 shares in the company, valued at $2,636,989.95. This represents a 7.84 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

NKE has been the subject of several recent research reports. Wells Fargo & Company dropped their price target on NIKE from $95.00 to $92.00 and set an “overweight” rating for the company in a research report on Monday, December 16th. Robert W. Baird decreased their target price on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a research report on Monday, December 23rd. BMO Capital Markets boosted their price target on NIKE from $92.00 to $95.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. Truist Financial lowered their price objective on NIKE from $97.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Finally, Royal Bank of Canada reduced their target price on NIKE from $82.00 to $80.00 and set a “sector perform” rating on the stock in a research report on Thursday, November 7th. Fifteen investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $88.62.

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.