NIKE, Inc. (NYSE:NKE) Stock Position Trimmed by Legacy Wealth Asset Management LLC

Legacy Wealth Asset Management LLC decreased its position in NIKE, Inc. (NYSE:NKE) by 17.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,665 shares of the footwear maker’s stock after selling 753 shares during the period. Legacy Wealth Asset Management LLC’s holdings in NIKE were worth $277,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in NKE. BFI Infinity Ltd. bought a new stake in shares of NIKE during the fourth quarter valued at about $255,000. Mirador Capital Partners LP raised its position in shares of NIKE by 69.8% during the 4th quarter. Mirador Capital Partners LP now owns 72,986 shares of the footwear maker’s stock worth $5,523,000 after buying an additional 30,011 shares in the last quarter. Smith Thornton Advisors LLC acquired a new stake in shares of NIKE in the 4th quarter worth approximately $231,000. Essex Savings Bank boosted its holdings in shares of NIKE by 53.9% in the fourth quarter. Essex Savings Bank now owns 10,707 shares of the footwear maker’s stock valued at $810,000 after acquiring an additional 3,752 shares in the last quarter. Finally, Presilium Private Wealth LLC increased its stake in shares of NIKE by 3.6% during the fourth quarter. Presilium Private Wealth LLC now owns 8,700 shares of the footwear maker’s stock valued at $658,000 after acquiring an additional 300 shares during the period. Institutional investors and hedge funds own 64.25% of the company’s stock.

Insider Activity

In other NIKE news, Director John W. Rogers, Jr. purchased 2,500 shares of the stock in a transaction that occurred on Friday, December 27th. The stock was purchased at an average price of $76.65 per share, with a total value of $191,625.00. Following the acquisition, the director now 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 filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on NKE shares. Guggenheim cut their target price on NIKE from $115.00 to $110.00 and set a “buy” rating for the company in a research report on Wednesday, October 2nd. Stifel Nicolaus dropped their price target on shares of NIKE from $79.00 to $75.00 and set a “hold” rating on the stock in a research report on Friday, December 20th. UBS Group restated a “neutral” rating and set a $73.00 price objective on shares of NIKE in a research report on Thursday, December 26th. Piper Sandler upgraded shares of NIKE from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $72.00 to $90.00 in a report on Friday, January 10th. Finally, Wells Fargo & Company reduced their target price on shares of NIKE from $95.00 to $92.00 and set an “overweight” rating for the company in a report on Monday, December 16th. Fourteen equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.96.

NIKE Price Performance

Shares of NIKE stock opened at $70.89 on Friday. NIKE, Inc. has a 52 week low of $70.32 and a 52 week high of $107.43. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. The business has a 50 day moving average of $75.77 and a 200 day moving average of $77.92. The company has a market cap of $104.85 billion, a PE ratio of 21.88, a P/E/G ratio of 2.26 and a beta of 1.02.

NIKE (NYSE:NKE) last announced its quarterly earnings data 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 company had revenue of $12.35 billion for the quarter, compared to the consensus estimate of $12.11 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. NIKE’s revenue for the quarter was down 7.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.03 EPS. As a group, equities research analysts forecast that NIKE, Inc. will post 2.1 earnings per share for the current year.

NIKE Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.26%. This is an increase from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Monday, December 2nd. NIKE’s dividend payout ratio (DPR) is presently 49.38%.

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.