Mariner LLC Sells 18,881 Shares of NIKE, Inc. $NKE

Mariner LLC lessened its stake in shares of NIKE, Inc. (NYSE:NKE) by 1.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 1,006,227 shares of the footwear maker’s stock after selling 18,881 shares during the period. Mariner LLC’s holdings in NIKE were worth $64,123,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Brighton Jones LLC boosted its stake in shares of NIKE by 388.5% in the 4th quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker’s stock worth $15,316,000 after buying an additional 160,980 shares during the last quarter. Caxton Associates LLP bought a new stake in shares of NIKE in the first quarter worth about $311,000. United Bank increased its holdings in shares of NIKE by 11.3% in the second quarter. United Bank now owns 17,067 shares of the footwear maker’s stock worth $1,212,000 after purchasing an additional 1,736 shares during the last quarter. NewEdge Advisors LLC increased its stake in NIKE by 0.3% during the second quarter. NewEdge Advisors LLC now owns 64,161 shares of the footwear maker’s stock worth $4,558,000 after acquiring an additional 197 shares during the last quarter. Finally, CIBC Asset Management Inc increased its stake in NIKE by 6.5% during the second quarter. CIBC Asset Management Inc now owns 191,268 shares of the footwear maker’s stock worth $13,588,000 after acquiring an additional 11,646 shares during the last quarter. Institutional investors own 64.25% of the company’s stock.

NIKE Price Performance

NYSE NKE opened at $45.20 on Tuesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.14 and a quick ratio of 1.45. The stock’s fifty day moving average price is $44.28 and its 200 day moving average price is $55.27. NIKE, Inc. has a 1 year low of $41.35 and a 1 year high of $80.17. The company has a market cap of $66.94 billion, a price-to-earnings ratio of 29.94, a PEG ratio of 1.95 and a beta of 1.12.

NIKE (NYSE:NKE) last released its earnings results on Tuesday, March 31st. The footwear maker reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.06. NIKE had a return on equity of 16.41% and a net margin of 4.84%.The firm had revenue of $11.28 billion for the quarter, compared to the consensus estimate of $11.23 billion. During the same period in the prior year, the firm earned $0.54 EPS. The firm’s revenue was up .1% on a year-over-year basis. As a group, equities research analysts forecast that NIKE, Inc. will post 1.49 earnings per share for the current year.

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be issued a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Monday, June 1st. NIKE’s dividend payout ratio is presently 108.61%.

Insider Buying and Selling

In other NIKE news, EVP Philip Mccartney sold 17,398 shares of the company’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $46.18, for a total value of $803,439.64. Following the sale, the executive vice president directly owned 53,133 shares of the company’s stock, valued at approximately $2,453,681.94. This represents a 24.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Robert Holmes Swan bought 11,781 shares of the stock in a transaction dated Tuesday, April 7th. The shares were purchased at an average cost of $42.44 per share, for a total transaction of $499,985.64. Following the completion of the purchase, the director owned 55,074 shares in the company, valued at approximately $2,337,340.56. This represents a 27.21% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought 64,441 shares of company stock valued at $2,734,204 in the last 90 days. 0.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on NKE shares. CICC Research lowered NIKE from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $69.00 to $58.00 in a research report on Monday, April 6th. Deutsche Bank Aktiengesellschaft lowered their price target on NIKE from $54.00 to $51.00 and set a “hold” rating for the company in a report on Wednesday, April 1st. Robert W. Baird lowered their target price on NIKE from $85.00 to $70.00 and set an “outperform” rating for the company in a report on Wednesday, April 1st. Guggenheim lowered their target price on NIKE from $77.00 to $74.00 and set a “buy” rating for the company in a report on Wednesday, April 1st. Finally, Piper Sandler restated a “neutral” rating and set a $50.00 target price (down from $60.00) on shares of NIKE in a report on Friday, April 10th. Fifteen investment analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $60.89.

About NIKE

Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).