Tsai Capital Corp Decreases Stake in NIKE, Inc. (NYSE:NKE)

Tsai Capital Corp decreased its holdings in NIKE, Inc. (NYSE:NKE) by 13.7% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 51,969 shares of the footwear maker’s stock after selling 8,279 shares during the period. NIKE makes up about 2.9% of Tsai Capital Corp’s investment portfolio, making the stock its 11th largest position. Tsai Capital Corp’s holdings in NIKE were worth $3,932,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NKE. Heck Capital Advisors LLC purchased a new stake in NIKE during the 4th quarter worth $28,000. Caitlin John LLC grew its stake in shares of NIKE by 117.0% in the fourth quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock valued at $28,000 after buying an additional 200 shares in the last quarter. Roxbury Financial LLC acquired a new position in NIKE during the 4th quarter worth approximately $30,000. LFA Lugano Financial Advisors SA boosted its holdings in NIKE by 110.5% in the 4th quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker’s stock worth $30,000 after acquiring an additional 210 shares during the period. Finally, Hopwood Financial Services Inc. acquired a new stake in NIKE in the fourth quarter valued at approximately $30,000. 64.25% of the stock is owned by institutional investors and hedge funds.

NIKE Trading Down 3.8 %

NYSE:NKE opened at $63.32 on Friday. The stock has a market cap of $93.65 billion, a price-to-earnings ratio of 19.54, a PEG 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. NIKE, Inc. has a 1 year low of $63.14 and a 1 year high of $98.04. The business has a fifty day moving average of $74.16 and a 200-day moving average of $76.94.

NIKE (NYSE:NKE) last released its earnings results on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, beating the consensus estimate of $0.28 by $0.26. The firm had revenue of $11.27 billion for the quarter, compared to analysts’ expectations of $11.02 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. NIKE’s quarterly revenue was down 9.1% on a year-over-year basis. During the same quarter last year, the company earned $0.98 EPS. Equities analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

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 paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date is Monday, March 3rd. NIKE’s payout ratio is currently 53.16%.

Insider Activity

In other NIKE news, 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 sale, the chairman now directly owns 896,632 shares in the company, valued at approximately $65,301,708.56. The trade was a 15.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on NKE shares. Telsey Advisory Group restated a “market perform” rating and issued a $80.00 target price on shares of NIKE in a research note on Monday, March 17th. Robert W. Baird lowered their target price on NIKE from $105.00 to $99.00 and set an “outperform” rating for the company in a research note on Friday, March 21st. China Renaissance assumed coverage on NIKE in a research note on Wednesday, March 19th. They issued a “hold” rating on the stock. Truist Financial lowered their price objective on NIKE from $90.00 to $82.00 and set a “buy” rating for the company in a research note on Friday, March 21st. Finally, Guggenheim reaffirmed a “buy” rating and issued a $110.00 target price on shares of NIKE in a research report on Wednesday, February 12th. Fifteen analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $87.38.

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.