CWA Asset Management Group LLC Lowers Stock Position in NIKE, Inc. (NYSE:NKE)

CWA Asset Management Group LLC trimmed its holdings in shares of NIKE, Inc. (NYSE:NKE) by 2.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,347 shares of the footwear maker’s stock after selling 437 shares during the quarter. CWA Asset Management Group LLC’s holdings in NIKE were worth $1,161,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of NKE. Private Advisor Group LLC raised its holdings in NIKE by 17.3% in the second quarter. Private Advisor Group LLC now owns 73,166 shares of the footwear maker’s stock worth $5,515,000 after purchasing an additional 10,794 shares in the last quarter. Great Lakes Advisors LLC lifted its position in NIKE by 3.6% during the second quarter. Great Lakes Advisors LLC now owns 37,790 shares of the footwear maker’s stock valued at $2,848,000 after acquiring an additional 1,310 shares during the last quarter. Strategic Financial Concepts LLC acquired a new stake in NIKE in the second quarter valued at approximately $48,000. Acadian Asset Management LLC grew its holdings in NIKE by 306.9% in the second quarter. Acadian Asset Management LLC now owns 270,462 shares of the footwear maker’s stock worth $20,379,000 after purchasing an additional 203,990 shares during the last quarter. Finally, Caprock Group LLC increased its position in shares of NIKE by 8.8% during the second quarter. Caprock Group LLC now owns 22,090 shares of the footwear maker’s stock worth $1,673,000 after purchasing an additional 1,792 shares in the last quarter. Institutional investors own 64.25% of the company’s stock.

Insider Buying and Selling

In other NIKE news, Director John W. Rogers, Jr. bought 2,500 shares of the company’s stock in a transaction dated Friday, December 27th. The stock was acquired at an average price 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 of the company’s stock, valued at $2,636,989.95. This represents a 7.84 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on NKE shares. Morgan Stanley dropped their target price on NIKE from $80.00 to $74.00 and set an “equal weight” rating on the stock in a research note on Friday, December 20th. Truist Financial dropped their price target on NIKE from $97.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Jefferies Financial Group lifted their target price on shares of NIKE from $80.00 to $85.00 and gave the stock a “hold” rating in a research note on Monday, September 30th. Evercore ISI dropped their target price on shares of NIKE from $105.00 to $97.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. Finally, JPMorgan Chase & Co. decreased their price target on shares of NIKE from $77.00 to $73.00 and set a “neutral” rating for the company in a report on Monday, December 2nd. Fifteen research 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 stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $89.58.

NIKE Stock Performance

NYSE:NKE opened at $72.15 on Wednesday. The company has a fifty day moving average of $76.65 and a two-hundred day moving average of $78.75. NIKE, Inc. has a fifty-two week low of $70.75 and a fifty-two week high of $107.43. The stock has a market capitalization of $108.18 billion, a PE ratio of 20.67, a P/E/G ratio of 1.89 and a beta of 1.02. 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 released its quarterly 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. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The firm had revenue of $12.35 billion during the quarter, compared to the consensus estimate of $12.11 billion. During the same quarter in the prior year, the firm earned $1.03 EPS. The company’s revenue for the quarter was down 7.7% on a year-over-year basis. As a group, research analysts forecast that NIKE, Inc. will post 2.72 earnings per share for the current fiscal year.

NIKE Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were paid a $0.40 dividend. The ex-dividend date was Monday, December 2nd. This is a positive change from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.22%. NIKE’s payout ratio is currently 49.38%.

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.