Cigna Investments Inc. New Has $929,000 Stock Position in NIKE, Inc. (NYSE:NKE)

Cigna Investments Inc. New decreased its position in shares of NIKE, Inc. (NYSE:NKE) by 1.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,279 shares of the footwear maker’s stock after selling 145 shares during the period. Cigna Investments Inc. New’s holdings in NIKE were worth $929,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Garrison Point Advisors LLC raised its holdings in shares of 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 purchasing an additional 126 shares during the period. Stephens Consulting LLC raised its holdings in shares of NIKE by 20.0% in the 3rd quarter. Stephens Consulting LLC now owns 768 shares of the footwear maker’s stock worth $68,000 after acquiring an additional 128 shares during the last quarter. PSI Advisors LLC raised its holdings in shares of NIKE by 26.3% in the 3rd quarter. PSI Advisors LLC now owns 624 shares of the footwear maker’s stock worth $55,000 after acquiring an additional 130 shares during the last quarter. Meridian Financial Partners LLC raised its holdings in shares of NIKE by 1.6% in the 3rd quarter. Meridian Financial Partners LLC now owns 8,396 shares of the footwear maker’s stock worth $742,000 after acquiring an additional 133 shares during the last quarter. Finally, Frisch Financial Group Inc. raised its holdings in shares of NIKE by 4.7% in the 3rd quarter. Frisch Financial Group Inc. now owns 3,036 shares of the footwear maker’s stock worth $269,000 after acquiring an additional 136 shares during the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

Insider Buying and Selling

In other NIKE news, Director John W. Rogers, Jr. acquired 2,500 shares of the company’s stock in a transaction that occurred on 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 completion of the purchase, the director now directly 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 position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.10% of the stock is currently owned by insiders.

NIKE Price Performance

Shares of NIKE stock opened at $70.90 on Tuesday. The firm has a market cap of $104.88 billion, a PE ratio of 21.88, a price-to-earnings-growth ratio of 2.34 and a beta of 1.01. NIKE, Inc. has a 12-month low of $68.62 and a 12-month 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 company’s fifty day simple moving average is $75.12 and its two-hundred day simple moving average is $78.09.

NIKE (NYSE:NKE) last announced its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.15. The firm had revenue of $12.35 billion for the quarter, compared to analyst estimates of $12.11 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The company’s revenue for the quarter was down 7.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.03 EPS. As a group, equities analysts expect that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Increases Dividend

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

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on NKE shares. 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 report on Friday, January 10th. TD Cowen reduced their target price on shares of NIKE from $78.00 to $73.00 and set a “hold” rating for the company in a research report on Monday, November 18th. Stifel Nicolaus cut their price objective on shares of NIKE from $79.00 to $75.00 and set a “hold” rating for the company in a report on Friday, December 20th. BMO Capital Markets raised their price target on shares of NIKE from $92.00 to $95.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. Finally, UBS Group reissued a “neutral” rating and issued a $73.00 price target on shares of NIKE in a report on Thursday, December 26th. Fifteen analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $88.62.

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.