NIKE, Inc. (NYSE:NKE) Shares Sold by FARMERS & MERCHANTS TRUST Co OF LONG BEACH

FARMERS & MERCHANTS TRUST Co OF LONG BEACH lessened its holdings in NIKE, Inc. (NYSE:NKE) by 16.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,124 shares of the footwear maker’s stock after selling 3,874 shares during the quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings in NIKE were worth $1,523,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in NKE. Teachers Insurance & Annuity Association of America bought a new stake in shares of NIKE during the 3rd quarter valued at about $30,000. VitalStone Financial LLC boosted its stake in NIKE by 52.6% in the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock valued at $38,000 after acquiring an additional 150 shares during the period. Dunhill Financial LLC grew its holdings in shares of NIKE by 52.2% during the third quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock valued at $44,000 after purchasing an additional 169 shares during the last quarter. Ecofi Investissements SA acquired a new position in NIKE during the 2nd quarter valued at approximately $49,000. Finally, Riverview Trust Co bought a new position in NIKE during the 3rd quarter worth $52,000. Institutional investors own 64.25% of the company’s stock.

Insider Activity

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 shares were bought at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the acquisition, the director now directly 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 ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Needham & Company LLC reiterated a “buy” rating and issued a $84.00 target price on shares of NIKE in a research note on Friday, December 20th. Piper Sandler upgraded shares of NIKE from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $72.00 to $90.00 in a research report on Friday, January 10th. JPMorgan Chase & Co. cut their price target on NIKE from $77.00 to $73.00 and set a “neutral” rating on the stock in a report on Monday, December 2nd. Robert W. Baird decreased their price objective on NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a report on Monday, December 23rd. Finally, Bank of America cut their target price on NIKE from $95.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Fourteen research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $89.96.

NIKE Trading Down 0.3 %

NYSE:NKE opened at $70.89 on Friday. The stock has a fifty day simple moving average of $75.87 and a 200 day simple moving average of $77.96. 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 firm has a market capitalization of $104.85 billion, a price-to-earnings ratio of 21.88, a price-to-earnings-growth ratio of 2.26 and a beta of 1.02. NIKE, Inc. has a 1-year low of $70.32 and a 1-year high of $107.43.

NIKE (NYSE:NKE) last released its 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. The business 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%. The firm’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same period last year, the firm posted $1.03 earnings per share. Sell-side analysts forecast that NIKE, Inc. will post 2.1 earnings per share for the current year.

NIKE Increases Dividend

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