Wrapmanager Inc. Sells 3,272 Shares of NIKE, Inc. (NYSE:NKE)

Wrapmanager Inc. reduced its stake in shares of NIKE, Inc. (NYSE:NKE) by 42.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,509 shares of the footwear maker’s stock after selling 3,272 shares during the quarter. Wrapmanager Inc.’s holdings in NIKE were worth $490,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Oliver Luxxe Assets LLC lifted its position in NIKE by 2.9% in the third quarter. Oliver Luxxe Assets LLC now owns 37,510 shares of the footwear maker’s stock valued at $3,587,000 after purchasing an additional 1,041 shares during the last quarter. Louisiana State Employees Retirement System purchased a new stake in NIKE during the 4th quarter valued at $8,034,000. Financial Gravity Asset Management Inc. grew its holdings in NIKE by 2,332.5% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 184,042 shares of the footwear maker’s stock worth $17,598,000 after acquiring an additional 176,476 shares during the last quarter. International Assets Investment Management LLC increased its position in shares of NIKE by 10,184.3% in the fourth quarter. International Assets Investment Management LLC now owns 388,131 shares of the footwear maker’s stock valued at $42,139,000 after acquiring an additional 384,357 shares during the period. Finally, Franklin Street Advisors Inc. NC raised its stake in shares of NIKE by 55.6% during the fourth quarter. Franklin Street Advisors Inc. NC now owns 194,164 shares of the footwear maker’s stock valued at $21,080,000 after acquiring an additional 69,363 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Insider Activity at NIKE

In other NIKE news, EVP Monique S. Matheson sold 45,000 shares of the business’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $94.16, for a total value of $4,237,200.00. Following the sale, the executive vice president now owns 44,997 shares in the company, valued at approximately $4,236,917.52. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.50% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

NKE has been the topic of a number of research analyst reports. Truist Financial restated a “hold” rating and set a $111.00 price target on shares of NIKE in a report on Tuesday, March 19th. Royal Bank of Canada restated a “sector perform” rating and set a $100.00 target price (down previously from $110.00) on shares of NIKE in a report on Friday, March 22nd. Wedbush reiterated an “outperform” rating and issued a $115.00 price target on shares of NIKE in a report on Tuesday, April 30th. Barclays decreased their price objective on shares of NIKE from $142.00 to $114.00 and set an “overweight” rating for the company in a report on Monday, March 25th. Finally, The Goldman Sachs Group cut their target price on shares of NIKE from $135.00 to $120.00 and set a “buy” rating on the stock in a research note on Friday, March 22nd. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat.com, NIKE currently has an average rating of “Moderate Buy” and an average target price of $116.26.

NIKE Price Performance

Shares of NIKE stock traded down $0.20 during trading hours on Thursday, hitting $93.39. The company’s stock had a trading volume of 6,429,058 shares, compared to its average volume of 9,151,133. The company has a market cap of $140.96 billion, a PE ratio of 27.47, a PEG ratio of 1.78 and a beta of 1.07. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.89 and a current ratio of 2.74. The business has a 50 day moving average price of $95.07 and a two-hundred day moving average price of $102.84. NIKE, Inc. has a 12-month low of $88.66 and a 12-month high of $126.46.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Thursday, March 21st. The footwear maker reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.29. NIKE had a return on equity of 39.41% and a net margin of 10.14%. The company had revenue of $12.43 billion for the quarter, compared to analysts’ expectations of $12.28 billion. Analysts expect that NIKE, Inc. will post 3.73 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be given a dividend of $0.37 per share. The ex-dividend date is Monday, June 3rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.58%. NIKE’s dividend payout ratio is 43.53%.

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.