Truist Financial Corp Sells 285,864 Shares of NIKE, Inc. (NYSE:NKE)

Truist Financial Corp lessened its stake in NIKE, Inc. (NYSE:NKE) by 38.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 457,505 shares of the footwear maker’s stock after selling 285,864 shares during the period. Truist Financial Corp’s holdings in NIKE were worth $34,619,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Heck Capital Advisors LLC bought a new stake in shares of NIKE in the 4th quarter valued at about $28,000. Caitlin John LLC lifted its stake in shares of NIKE by 117.0% in the 4th quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock valued at $28,000 after acquiring an additional 200 shares during the last quarter. Teachers Insurance & Annuity Association of America bought a new stake in shares of NIKE in the 3rd quarter valued at about $30,000. Roxbury Financial LLC purchased a new position in NIKE during the 4th quarter valued at about $30,000. Finally, Dunhill Financial LLC increased its holdings in NIKE by 52.2% during the 3rd 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 period. Institutional investors own 64.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on NKE shares. Truist Financial reduced their price target on NIKE from $97.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, December 20th. 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 report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft reduced their price target on NIKE from $92.00 to $82.00 and set a “buy” rating on the stock in a report on Monday, December 16th. DA Davidson upgraded NIKE to a “strong-buy” rating in a report on Monday, December 23rd. Finally, Morgan Stanley reduced their price target on NIKE from $80.00 to $74.00 and set an “equal weight” rating on the stock in a report on Friday, December 20th. Fifteen research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $88.62.

NIKE Stock Performance

Shares of NKE opened at $77.54 on Wednesday. The stock has a market cap of $114.70 billion, a P/E ratio of 23.93, a P/E/G ratio of 2.34 and a beta of 1.01. NIKE, Inc. has a 52 week low of $68.62 and a 52 week high of $106.62. 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 business’s 50 day moving average price is $74.37 and its 200-day moving average price is $78.04.

NIKE (NYSE:NKE) last released its quarterly earnings data 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. The business had revenue of $12.35 billion for the quarter, compared to analysts’ expectations of $12.11 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The firm’s quarterly revenue was down 7.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.03 EPS. Equities research analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be given a $0.40 dividend. The ex-dividend date is Monday, March 3rd. This represents a $1.60 annualized dividend and a yield of 2.06%. NIKE’s dividend payout ratio (DPR) is presently 49.38%.

Insider Activity at NIKE

In other NIKE news, Director John W. Rogers, Jr. acquired 2,500 shares of the stock in a transaction that occurred on Friday, December 27th. The shares were acquired at an average cost 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 $2,636,989.95. The trade was a 7.84 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Mark G. Parker sold 169,732 shares of the stock in a transaction on Friday, February 14th. The shares were sold at an average price of $72.83, for a total value of $12,361,581.56. Following the transaction, the chairman now directly owns 896,632 shares in the company, valued at $65,301,708.56. The trade was a 15.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by insiders.

About NIKE

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.