Archer Investment Corp Trims Stock Holdings in NIKE, Inc. (NYSE:NKE)

Archer Investment Corp lowered its holdings in NIKE, Inc. (NYSE:NKE) by 82.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,011 shares of the footwear maker’s stock after selling 4,907 shares during the quarter. Archer Investment Corp’s holdings in NIKE were worth $76,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. State Street Corp grew its position 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 valued at $5,140,796,000 after purchasing an additional 1,862,021 shares during the period. Wellington Management Group LLP grew its holdings in shares of NIKE by 5.1% in the third quarter. Wellington Management Group LLP now owns 27,442,145 shares of the footwear maker’s stock valued at $2,425,886,000 after purchasing an additional 1,343,093 shares during the period. Geode Capital Management LLC lifted its holdings in NIKE by 1.0% in the third quarter. Geode Capital Management LLC now owns 25,029,380 shares of the footwear maker’s stock valued at $2,204,451,000 after acquiring an additional 251,411 shares during the last quarter. Fisher Asset Management LLC raised its holdings in 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 buying an additional 583,207 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of NIKE by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 8,602,534 shares of the footwear maker’s stock worth $760,716,000 after purchasing an additional 117,187 shares during the period. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Stock Down 3.8 %

Shares of NKE stock opened at $71.75 on Friday. NIKE, Inc. has a 12 month low of $70.32 and a 12 month high of $107.43. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. The stock has a market cap of $106.13 billion, a P/E ratio of 22.15, a P/E/G ratio of 2.50 and a beta of 1.01. The company has a 50 day simple moving average of $75.45 and a two-hundred day simple moving average of $78.10.

NIKE (NYSE:NKE) last posted its earnings results on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.15. The firm had revenue of $12.35 billion during the quarter, compared to the consensus estimate of $12.11 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The company’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.03 EPS. On average, research analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were issued a $0.40 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This is an increase from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.23%. NIKE’s dividend payout ratio (DPR) is currently 49.38%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Barclays dropped their price objective on shares of NIKE from $79.00 to $70.00 and set an “equal weight” rating for the company in a report on Friday, December 20th. Wells Fargo & Company cut their price target on shares of NIKE from $95.00 to $92.00 and set an “overweight” rating on the stock in a research note on Monday, December 16th. Piper Sandler raised shares of NIKE from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $72.00 to $90.00 in a report on Friday, January 10th. Needham & Company LLC reaffirmed a “buy” rating and set a $84.00 price target on shares of NIKE in a report on Friday, December 20th. Finally, BMO Capital Markets raised their price objective on shares of NIKE from $92.00 to $95.00 and gave the company an “outperform” rating in a research note on Monday. Fifteen research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has 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 $88.62.

Insider Transactions at NIKE

In related news, Director John W. Rogers, Jr. bought 2,500 shares of the company’s stock in a transaction that occurred on Friday, December 27th. The shares were 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 in the company, 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.10% of the company’s stock.

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.