Campbell Newman Asset Management Inc. Sells 379 Shares of NIKE, Inc. (NYSE:NKE)

Campbell Newman Asset Management Inc. lessened its stake in shares of NIKE, Inc. (NYSE:NKE) by 2.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 13,564 shares of the footwear maker’s stock after selling 379 shares during the quarter. Campbell Newman Asset Management Inc.’s holdings in NIKE were worth $1,026,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in NKE. Garrison Point Advisors LLC boosted its holdings in NIKE by 1.9% during the third quarter. Garrison Point Advisors LLC now owns 6,704 shares of the footwear maker’s stock valued at $593,000 after acquiring an additional 126 shares during the period. Stephens Consulting LLC raised its stake in NIKE by 20.0% during the 3rd quarter. Stephens Consulting LLC now owns 768 shares of the footwear maker’s stock valued at $68,000 after purchasing an additional 128 shares during the last quarter. PSI Advisors LLC increased its holdings in shares of NIKE by 26.3% during the 3rd quarter. PSI Advisors LLC now owns 624 shares of the footwear maker’s stock worth $55,000 after purchasing an additional 130 shares during the period. Chapin Davis Inc. raised its holdings in NIKE by 1.2% in the 3rd quarter. Chapin Davis Inc. now owns 11,430 shares of the footwear maker’s stock valued at $1,010,000 after acquiring an additional 133 shares in the last quarter. Finally, Meridian Financial Partners LLC raised its stake in shares of NIKE by 1.6% in the third quarter. Meridian Financial Partners LLC now owns 8,396 shares of the footwear maker’s stock valued at $742,000 after purchasing an additional 133 shares in the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Bank of America lowered their target price on shares of NIKE from $95.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Truist Financial decreased 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. Guggenheim dropped their price objective on NIKE from $115.00 to $110.00 and set a “buy” rating for the company in a research note on Wednesday, October 2nd. UBS Group restated a “neutral” rating and issued a $73.00 target price on shares of NIKE in a research note on Thursday, December 26th. Finally, DA Davidson raised shares of NIKE to a “strong-buy” rating in a report on Monday, December 23rd. Fourteen 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.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $89.96.

NIKE Trading Up 0.8 %

Shares of NKE stock traded up $0.59 on Wednesday, reaching $71.76. The company had a trading volume of 1,749,097 shares, compared to its average volume of 11,826,656. The company has a 50-day moving average of $76.05 and a 200-day moving average of $78.06. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57. The stock has a market cap of $106.14 billion, a PE ratio of 20.56, a PEG ratio of 1.89 and a beta of 1.02. NIKE, Inc. has a 12 month low of $70.53 and a 12 month high of $107.43.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $12.11 billion. During the same period in the previous year, the business earned $1.03 EPS. The company’s revenue was down 7.7% compared to the same quarter last year. On average, equities analysts forecast that NIKE, Inc. will post 2.72 earnings per share for the current year.

NIKE Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were given a dividend of $0.40 per share. The ex-dividend date was Monday, December 2nd. This is a boost from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a yield of 2.23%. NIKE’s dividend payout ratio is 49.38%.

Insider Buying and Selling at NIKE

In other NIKE news, Director John W. Rogers, Jr. purchased 2,500 shares of NIKE stock in a transaction that occurred on Friday, December 27th. The stock was acquired at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the acquisition, the director now owns 34,403 shares of the company’s stock, valued at approximately $2,636,989.95. This trade represents a 7.84 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 1.10% of the company’s stock.

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.