Truist Financial Corp Sells 285,864 Shares of NIKE, Inc. (NYSE:NKE)

Truist Financial Corp trimmed its position in shares of NIKE, Inc. (NYSE:NKE) by 38.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 457,505 shares of the footwear maker’s stock after selling 285,864 shares during the quarter. Truist Financial Corp’s holdings in NIKE were worth $34,619,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of NKE. Heck Capital Advisors LLC purchased a new stake in shares of NIKE in the 4th quarter worth $28,000. Caitlin John LLC increased its stake in shares of NIKE by 117.0% in the 4th quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock worth $28,000 after purchasing an additional 200 shares in the last quarter. Teachers Insurance & Annuity Association of America purchased a new stake in shares of NIKE in the 3rd quarter worth $30,000. Roxbury Financial LLC purchased a new stake in shares of NIKE in the 4th quarter worth $30,000. Finally, Dunhill Financial LLC increased its stake in shares of NIKE by 52.2% in 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 in the last quarter. 64.25% of the stock is owned by institutional investors.

NIKE Stock Up 6.2 %

Shares of NYSE:NKE opened at $77.54 on Wednesday. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a 12 month low of $68.62 and a 12 month high of $106.62. The company has a 50-day moving average price of $74.37 and a 200 day moving average price of $78.04. The company has a market cap of $114.70 billion, a price-to-earnings ratio of 23.93, a PEG ratio of 2.34 and a beta of 1.01.

NIKE (NYSE:NKE) last announced its quarterly 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. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The firm had revenue of $12.35 billion during the quarter, compared to the consensus estimate of $12.11 billion. During the same quarter last year, the firm earned $1.03 EPS. The firm’s revenue for the quarter was down 7.7% compared to the same quarter last year. As a group, equities research analysts predict 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. Investors of record on Monday, March 3rd will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date is Monday, March 3rd. NIKE’s payout ratio is 49.38%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on NKE. Barclays reduced their price objective 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. Stifel Nicolaus reduced their price objective on NIKE from $79.00 to $75.00 and set a “hold” rating for the company in a research note on Friday, December 20th. BMO Capital Markets increased their price target on NIKE from $92.00 to $95.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd. Wells Fargo & Company cut their price target on NIKE from $95.00 to $92.00 and set an “overweight” rating for the company in a research note on Monday, December 16th. Finally, UBS Group reiterated a “neutral” rating and issued a $73.00 price target on shares of NIKE in a research note on Thursday, December 26th. Fifteen analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $88.62.

Insider Activity at NIKE

In other NIKE news, Chairman Mark G. Parker sold 169,732 shares of the firm’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 completion of the sale, the chairman now owns 896,632 shares of the company’s stock, valued at $65,301,708.56. This trade represents a 15.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John W. Rogers, Jr. acquired 2,500 shares of the firm’s stock in a transaction on Friday, December 27th. The stock was purchased at an average cost of $76.65 per share, with a total value of $191,625.00. Following the purchase, the director now owns 34,403 shares of the company’s stock, valued at $2,636,989.95. The trade was 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 owned by insiders.

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.