NIKE, Inc. (NYSE:NKE) Shares Sold by Cornerstone Wealth Management LLC

Cornerstone Wealth Management LLC reduced its holdings in NIKE, Inc. (NYSE:NKE) by 4.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,198 shares of the footwear maker’s stock after selling 211 shares during the period. Cornerstone Wealth Management LLC’s holdings in NIKE were worth $318,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Dark Forest Capital Management LP acquired a new stake in shares of NIKE in the second quarter valued at about $333,000. The Manufacturers Life Insurance Company boosted its stake in shares of NIKE by 0.5% in the second quarter. The Manufacturers Life Insurance Company now owns 841,006 shares of the footwear maker’s stock worth $63,409,000 after acquiring an additional 4,347 shares during the last quarter. Kathmere Capital Management LLC boosted its stake in shares of NIKE by 60.5% in the second quarter. Kathmere Capital Management LLC now owns 5,403 shares of the footwear maker’s stock worth $407,000 after acquiring an additional 2,037 shares during the last quarter. Aviso Wealth Management boosted its stake in shares of NIKE by 55.6% in the second quarter. Aviso Wealth Management now owns 5,108 shares of the footwear maker’s stock worth $385,000 after acquiring an additional 1,825 shares during the last quarter. Finally, Creative Planning boosted its stake in NIKE by 7.1% during the 2nd quarter. Creative Planning now owns 547,242 shares of the footwear maker’s stock worth $41,246,000 after purchasing an additional 36,290 shares during the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

NIKE Stock Down 0.9 %

Shares of NYSE NKE opened at $73.60 on Monday. 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 $108.86 billion, a P/E ratio of 22.72, a PEG ratio of 2.36 and a beta of 1.02. The business’s fifty day simple moving average is $75.45 and its 200-day simple moving average is $77.90. NIKE, Inc. has a 12-month low of $70.32 and a 12-month high of $107.43.

NIKE (NYSE:NKE) last issued its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share 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 analysts’ expectations of $12.11 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The firm’s revenue was down 7.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.03 earnings per share. As a group, equities analysts predict that NIKE, Inc. will post 2.1 EPS for the current fiscal 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 issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.17%. This is a positive change 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%.

Insider Buying and Selling at NIKE

In other NIKE news, Director John W. Rogers, Jr. bought 2,500 shares of the business’s stock in a transaction dated Friday, December 27th. The shares were acquired at an average price of $76.65 per share, with a total value of $191,625.00. Following the transaction, the director now owns 34,403 shares of the company’s stock, valued at approximately $2,636,989.95. The trade was a 7.84 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on NKE. Robert W. Baird lowered their price target on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a research report on Monday, December 23rd. Guggenheim lowered their target price on NIKE from $115.00 to $110.00 and set a “buy” rating on the stock in a report on Wednesday, October 2nd. Stifel Nicolaus lowered their target price on NIKE from $79.00 to $75.00 and set a “hold” rating on the stock in a report on Friday, December 20th. Piper Sandler raised NIKE from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $72.00 to $90.00 in a research note on Friday, January 10th. Finally, Morgan Stanley lowered their price objective 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. 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. Based on data from MarketBeat, NIKE currently has an average rating of “Moderate Buy” and an average price target of $89.96.

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.