Cullinan Associates Inc. Has $758,000 Holdings in NIKE, Inc. (NYSE:NKE)

Cullinan Associates Inc. decreased its holdings in shares of NIKE, Inc. (NYSE:NKE) by 30.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,020 shares of the footwear maker’s stock after selling 4,335 shares during the quarter. Cullinan Associates Inc.’s holdings in NIKE were worth $758,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Tempus Wealth Planning LLC increased its position in NIKE by 19.2% during the 4th quarter. Tempus Wealth Planning LLC now owns 5,834 shares of the footwear maker’s stock worth $441,000 after purchasing an additional 940 shares in the last quarter. Calamos Advisors LLC increased its holdings in shares of NIKE by 30.9% during the fourth quarter. Calamos Advisors LLC now owns 349,898 shares of the footwear maker’s stock worth $26,477,000 after buying an additional 82,500 shares in the last quarter. Alliance Wealth Advisors LLC UT lifted its stake in shares of NIKE by 19.0% in the 4th quarter. Alliance Wealth Advisors LLC UT now owns 9,147 shares of the footwear maker’s stock valued at $692,000 after acquiring an additional 1,459 shares during the last quarter. Optas LLC grew its position in NIKE by 5.2% during the 4th quarter. Optas LLC now owns 3,861 shares of the footwear maker’s stock worth $292,000 after acquiring an additional 191 shares during the last quarter. Finally, Leisure Capital Management increased its holdings in NIKE by 99.1% in the 4th quarter. Leisure Capital Management now owns 21,261 shares of the footwear maker’s stock worth $1,609,000 after purchasing an additional 10,585 shares in the last quarter. Institutional investors own 64.25% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Bank of America reduced their price target on NIKE from $95.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Telsey Advisory Group downgraded shares of NIKE from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $93.00 to $80.00 in a research note on Friday, December 20th. Piper Sandler raised shares of 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. TD Cowen lowered their target price on NIKE from $78.00 to $73.00 and set a “hold” rating for the company in a research report on Monday, November 18th. Finally, Royal Bank of Canada reduced their price target on NIKE from $82.00 to $80.00 and set a “sector perform” rating on the stock in a research report on Thursday, November 7th. Fourteen analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, NIKE currently has a consensus rating of “Moderate Buy” and an average price target of $89.77.

Insider Activity at NIKE

In other news, Director John W. Rogers, Jr. purchased 2,500 shares of the business’s stock in a transaction dated Friday, December 27th. The stock was bought at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the purchase, the director now owns 34,403 shares of the company’s stock, valued at $2,636,989.95. The trade was a 7.84 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.10% of the stock is owned by company insiders.

NIKE Trading Down 0.4 %

Shares of NKE stock opened at $76.61 on Tuesday. NIKE, Inc. has a 52-week low of $70.32 and a 52-week high of $107.43. The company has a 50-day simple moving average of $75.60 and a two-hundred day simple moving average of $78.06. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. The company has a market capitalization of $113.32 billion, a price-to-earnings ratio of 23.65, a PEG ratio of 2.50 and a beta of 1.01.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.15. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The company had revenue of $12.35 billion during the quarter, compared to the consensus estimate of $12.11 billion. During the same period last year, the business posted $1.03 earnings per share. NIKE’s revenue was down 7.7% on a year-over-year basis. Research analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current fiscal 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 issued a $0.40 dividend. This is an increase from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.09%. 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.