Rosenberg Matthew Hamilton Trims Stake in NIKE, Inc. (NYSE:NKE)

Rosenberg Matthew Hamilton cut its stake in shares of NIKE, Inc. (NYSE:NKE) by 45.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,032 shares of the footwear maker’s stock after selling 861 shares during the period. Rosenberg Matthew Hamilton’s holdings in NIKE were worth $78,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. State Street Corp raised its stake in shares of NIKE by 3.3% in the third quarter. State Street Corp now owns 57,916,789 shares of the footwear maker’s stock worth $5,140,796,000 after buying an additional 1,862,021 shares during the period. Wellington Management Group LLP raised its stake in NIKE by 5.1% during the 3rd quarter. Wellington Management Group LLP now owns 27,442,145 shares of the footwear maker’s stock worth $2,425,886,000 after acquiring an additional 1,343,093 shares during the period. Geode Capital Management LLC raised its stake in NIKE by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 25,029,380 shares of the footwear maker’s stock worth $2,204,451,000 after acquiring an additional 251,411 shares during the period. Legal & General Group Plc lifted its holdings in NIKE by 5.5% during the second quarter. Legal & General Group Plc now owns 11,049,294 shares of the footwear maker’s stock valued at $832,785,000 after purchasing an additional 571,544 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its position in shares of NIKE by 6.0% in the third quarter. Fisher Asset Management LLC now owns 10,303,182 shares of the footwear maker’s stock worth $910,801,000 after purchasing an additional 583,207 shares during the period. Institutional investors own 64.25% of the company’s stock.

NIKE Stock Performance

NIKE stock opened at $71.09 on Wednesday. NIKE, Inc. has a fifty-two week low of $70.53 and a fifty-two week high of $107.43. The company has a market capitalization of $105.15 billion, a PE ratio of 20.37, a P/E/G ratio of 1.89 and a beta of 1.02. The company has a 50 day moving average price of $76.05 and a 200-day moving average price of $78.06. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36.

NIKE (NYSE:NKE) last issued its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.15. The business had revenue of $12.35 billion during the quarter, compared to analysts’ expectations of $12.11 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The business’s revenue for the quarter was down 7.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.03 EPS. As a group, equities analysts forecast that NIKE, Inc. will post 2.72 earnings per share for the current year.

NIKE Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were given a dividend of $0.40 per share. This is an increase from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.25%. NIKE’s dividend payout ratio (DPR) is 49.38%.

Analyst Ratings Changes

A number of research analysts recently weighed in on NKE shares. Evercore ISI lowered their target price on shares of NIKE from $105.00 to $97.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. Barclays lowered their price objective on NIKE from $79.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Friday, December 20th. JPMorgan Chase & Co. cut their target price on NIKE from $77.00 to $73.00 and set a “neutral” rating for the company in a research report on Monday, December 2nd. Wells Fargo & Company lowered their price target on NIKE from $95.00 to $92.00 and set an “overweight” rating on the stock in a report on Monday, December 16th. Finally, Piper Sandler raised shares of NIKE from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $72.00 to $90.00 in a report on Friday, January 10th. Fourteen analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, NIKE has an average rating of “Moderate Buy” and a consensus target price of $89.96.

Insider Activity

In other NIKE news, Director John W. Rogers, Jr. acquired 2,500 shares of the company’s stock in a transaction dated Friday, December 27th. The shares were purchased at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the purchase, the director now owns 34,403 shares in the company, valued at approximately $2,636,989.95. This trade represents a 7.84 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 1.10% of the company’s stock.

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.