Atlantic Union Bankshares Corp Has $2.09 Million Stock Holdings in NIKE, Inc. (NYSE:NKE)

Atlantic Union Bankshares Corp lessened its stake in NIKE, Inc. (NYSE:NKE) by 12.6% during the 4th quarter, Holdings Channel reports. The institutional investor owned 27,575 shares of the footwear maker’s stock after selling 3,961 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in NIKE were worth $2,087,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. JNBA Financial Advisors increased its stake in NIKE by 1.3% in the 4th quarter. JNBA Financial Advisors now owns 10,045 shares of the footwear maker’s stock valued at $760,000 after buying an additional 131 shares during the period. Frisch Financial Group Inc. grew its position in NIKE by 4.7% in the third 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 in the last quarter. Nations Financial Group Inc. IA ADV grew its position in NIKE by 0.7% in the fourth quarter. Nations Financial Group Inc. IA ADV now owns 20,446 shares of the footwear maker’s stock worth $1,547,000 after acquiring an additional 136 shares in the last quarter. GAMMA Investing LLC grew its position in NIKE by 1.0% in the fourth quarter. GAMMA Investing LLC now owns 15,014 shares of the footwear maker’s stock worth $1,136,000 after acquiring an additional 150 shares in the last quarter. Finally, Game Plan Financial Advisors LLC grew its position in NIKE by 11.1% in the fourth quarter. Game Plan Financial Advisors LLC now owns 1,500 shares of the footwear maker’s stock worth $114,000 after acquiring an additional 150 shares in the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on NKE shares. JPMorgan Chase & Co. decreased their target price on shares of NIKE from $77.00 to $73.00 and set a “neutral” rating for the company in a research report on Monday, December 2nd. Evercore ISI decreased their target price on shares of NIKE from $105.00 to $97.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. Barclays decreased their target price on shares of NIKE from $79.00 to $70.00 and set an “equal weight” rating for the company in a research report on Friday, December 20th. Citigroup downgraded shares of NIKE from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $102.00 to $72.00 in a research report on Friday, February 7th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and set a $80.00 price objective on shares of NIKE in a report on Wednesday, February 19th. Fourteen analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $89.77.

NIKE Trading Up 1.3 %

Shares of NKE stock opened at $78.68 on Friday. NIKE, Inc. has a 52-week low of $68.62 and a 52-week high of $102.49. The stock has a market cap of $116.38 billion, a price-to-earnings ratio of 24.28, a P/E/G ratio of 2.52 and a beta of 1.02. 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 firm has a fifty day moving average of $74.76 and a 200-day moving average of $78.18.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.15. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The company had revenue of $12.35 billion during the quarter, compared to analysts’ expectations of $12.11 billion. During the same quarter in the prior year, the company posted $1.03 EPS. The business’s revenue was down 7.7% on a year-over-year basis. On average, equities research analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date of this dividend is Monday, March 3rd. NIKE’s dividend payout ratio is 49.38%.

Insider Activity

In other news, 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 completion of the transaction, the chairman now owns 896,632 shares in the company, valued at approximately $65,301,708.56. This represents a 15.92 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John W. Rogers, Jr. acquired 2,500 shares of the company’s stock in a transaction dated Friday, December 27th. The stock was acquired at an average price of $76.65 per share, with a total value of $191,625.00. Following the purchase, the director now owns 34,403 shares in the company, valued at approximately $2,636,989.95. This represents a 7.84 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.10% of the company’s stock.

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.