Corebridge Financial Inc. Decreases Stock Holdings in NIKE, Inc. (NYSE:NKE)

Corebridge Financial Inc. reduced its position in shares of NIKE, Inc. (NYSE:NKE) by 6.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 273,637 shares of the footwear maker’s stock after selling 19,080 shares during the period. Corebridge Financial Inc.’s holdings in NIKE were worth $20,706,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. JNBA Financial Advisors grew its position in shares of NIKE by 1.3% in the 4th quarter. JNBA Financial Advisors now owns 10,045 shares of the footwear maker’s stock worth $760,000 after buying an additional 131 shares during the last quarter. Frisch Financial Group Inc. lifted its stake 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 during the period. Nations Financial Group Inc. IA ADV raised its holdings in NIKE by 0.7% in the 4th quarter. Nations Financial Group Inc. IA ADV now owns 20,446 shares of the footwear maker’s stock worth $1,547,000 after purchasing an additional 136 shares in the last quarter. GAMMA Investing LLC raised its holdings in NIKE by 1.0% in the 4th quarter. GAMMA Investing LLC now owns 15,014 shares of the footwear maker’s stock worth $1,136,000 after purchasing an additional 150 shares in the last quarter. Finally, Game Plan Financial Advisors LLC lifted its holdings 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 buying an additional 150 shares during the period. 64.25% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on NKE shares. Dbs Bank raised shares of NIKE from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of NIKE from $92.00 to $82.00 and set a “buy” rating for the company in a research note on Monday, December 16th. Guggenheim reaffirmed a “buy” rating and set a $110.00 price objective on shares of NIKE in a research report on Wednesday, February 12th. Citigroup downgraded NIKE from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $102.00 to $72.00 in a report on Friday, February 7th. Finally, Royal Bank of Canada dropped their price target on shares of NIKE from $67.00 to $66.00 and set a “sector perform” rating on the stock in a research note on Friday. Fifteen investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $87.38.

Insider Transactions at NIKE

In other NIKE news, Director John W. Rogers, Jr. purchased 2,500 shares of the business’s stock in a transaction on Friday, December 27th. The stock was acquired 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 approximately $2,636,989.95. This represents a 7.84 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Mark G. Parker sold 169,732 shares of the business’s stock in a transaction dated 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 $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. Corporate insiders own 1.10% of the company’s stock.

NIKE Trading Down 0.7 %

NYSE:NKE opened at $67.45 on Tuesday. NIKE, Inc. has a one year low of $65.17 and a one year high of $98.04. The business has a fifty day moving average price of $74.61 and a 200-day moving average price of $77.31. The firm has a market capitalization of $99.76 billion, a price-to-earnings ratio of 20.82, a price-to-earnings-growth ratio of 2.52 and a beta of 1.02. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.26. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The business had revenue of $11.27 billion during the quarter, compared to analysts’ expectations of $11.02 billion. During the same quarter in the prior year, the business posted $0.98 earnings per share. The business’s quarterly revenue was down 9.1% on a year-over-year basis. Sell-side analysts forecast that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be given a $0.40 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.37%. NIKE’s payout ratio is currently 53.16%.

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.