Harbour Trust & Investment Management Co Sells 1,135 Shares of NIKE, Inc. (NYSE:NKE)

Harbour Trust & Investment Management Co cut its holdings in shares of NIKE, Inc. (NYSE:NKE) by 3.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 29,721 shares of the footwear maker’s stock after selling 1,135 shares during the quarter. Harbour Trust & Investment Management Co’s holdings in NIKE were worth $2,249,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of the stock. Heck Capital Advisors LLC acquired a new position in NIKE in the fourth quarter worth about $28,000. Caitlin John LLC grew its stake in NIKE by 117.0% during the fourth quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock worth $28,000 after buying an additional 200 shares during the last quarter. Teachers Insurance & Annuity Association of America bought a new position in shares of NIKE in the third quarter valued at approximately $30,000. VitalStone Financial LLC boosted its holdings in shares of NIKE by 52.6% in the 3rd quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock worth $38,000 after acquiring an additional 150 shares in the last quarter. Finally, Dunhill Financial LLC grew its position in NIKE by 52.2% during the 3rd quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock worth $44,000 after acquiring an additional 169 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at NIKE

In related news, Director John W. Rogers, Jr. bought 2,500 shares of NIKE stock in a transaction that occurred on 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 acquisition, 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.10% of the stock is owned by company insiders.

NIKE Stock Down 4.3 %

NIKE stock opened at $68.69 on Monday. The stock has a market capitalization of $101.60 billion, a PE ratio of 21.20, a price-to-earnings-growth ratio of 2.34 and a beta of 1.01. NIKE, Inc. has a twelve month low of $68.62 and a twelve month high of $107.43. The company has a 50 day moving average of $75.12 and a 200-day moving average of $78.04. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, topping the consensus estimate 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 period last year, the business earned $1.03 EPS. The business’s quarterly revenue was down 7.7% on a year-over-year basis. On average, equities research analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were paid a $0.40 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This is a boost from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a dividend yield of 2.33%. NIKE’s dividend payout ratio (DPR) is currently 49.38%.

Analysts Set New Price Targets

A number of equities analysts have commented on NKE shares. Piper Sandler raised NIKE from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $72.00 to $90.00 in a research note on Friday, January 10th. Needham & Company LLC reissued a “buy” rating and set a $84.00 price objective on shares of NIKE in a report on Friday. Truist Financial dropped their target price on shares of NIKE from $97.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, December 20th. JPMorgan Chase & Co. lowered their price target on shares of NIKE from $77.00 to $73.00 and set a “neutral” rating for the company in a report on Monday, December 2nd. Finally, Bank of America reduced their price objective on NIKE from $95.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Fifteen analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, NIKE currently has an average rating of “Moderate Buy” and a consensus target price of $88.62.

NIKE Company 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.