NIKE, Inc. (NYSE:NKE) Shares Sold by Gladstone Institutional Advisory LLC

Gladstone Institutional Advisory LLC cut its holdings in shares of NIKE, Inc. (NYSE:NKE) by 39.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,987 shares of the footwear maker’s stock after selling 5,131 shares during the period. Gladstone Institutional Advisory LLC’s holdings in NIKE were worth $604,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Heck Capital Advisors LLC purchased a new stake in shares of NIKE in the fourth quarter worth about $28,000. Caitlin John LLC lifted its holdings in NIKE by 117.0% in the fourth quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock valued at $28,000 after acquiring an additional 200 shares during the period. Teachers Insurance & Annuity Association of America purchased a new stake in NIKE in the 3rd quarter worth approximately $30,000. Dunhill Financial LLC grew its stake in shares of NIKE by 52.2% during the 3rd quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock worth $44,000 after purchasing an additional 169 shares during the period. Finally, Riverview Trust Co purchased a new position in shares of NIKE during the 3rd quarter valued at approximately $52,000. 64.25% of the stock is owned by hedge funds and other institutional investors.

NIKE Price Performance

NIKE stock opened at $73.02 on Friday. The company has a 50-day moving average price of $74.58 and a 200 day moving average price of $78.00. NIKE, Inc. has a 12-month low of $68.62 and a 12-month high of $107.34. 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 $108.00 billion, a P/E ratio of 22.54, a PEG ratio of 2.34 and a beta of 1.01.

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

NIKE Dividend Announcement

The firm 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 dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date of this dividend is Monday, March 3rd. NIKE’s dividend payout ratio is presently 49.38%.

Insider Buying and Selling

In related news, Director John W. Rogers, Jr. bought 2,500 shares of the stock in a transaction on Friday, December 27th. The stock was bought at an average price of $76.65 per share, with a total value of $191,625.00. Following the completion of the purchase, the director now directly owns 34,403 shares in the company, valued at $2,636,989.95. This represents a 7.84 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on NKE shares. Telsey Advisory Group reissued a “market perform” rating and set a $80.00 price target on shares of NIKE in a report on Thursday, February 6th. Truist Financial dropped their target price on NIKE from $97.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. DA Davidson raised NIKE to a “strong-buy” rating in a report on Monday, December 23rd. Piper Sandler raised NIKE from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $72.00 to $90.00 in a report on Friday, January 10th. Finally, Barclays reduced their target price on NIKE from $79.00 to $70.00 and set an “equal weight” rating for the company in a research note on Friday, December 20th. Fifteen investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, NIKE has a consensus rating of “Moderate Buy” and a consensus price target of $88.62.

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.