Asset Dedication LLC Sells 11,364 Shares of NIKE, Inc. (NYSE:NKE)

Asset Dedication LLC trimmed its position in NIKE, Inc. (NYSE:NKE - Free Report) by 47.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,390 shares of the footwear maker's stock after selling 11,364 shares during the quarter. Asset Dedication LLC's holdings in NIKE were worth $938,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Deane Retirement Strategies Inc. acquired a new position in shares of NIKE in the fourth quarter worth about $1,915,000. Mayflower Financial Advisors LLC boosted its holdings in shares of NIKE by 20.8% in the fourth quarter. Mayflower Financial Advisors LLC now owns 11,642 shares of the footwear maker's stock worth $881,000 after buying an additional 2,006 shares during the period. Stonegate Investment Group LLC boosted its holdings in shares of NIKE by 18.5% during the fourth quarter. Stonegate Investment Group LLC now owns 670,616 shares of the footwear maker's stock worth $50,746,000 after purchasing an additional 104,786 shares during the period. Vantage Investment Partners LLC boosted its holdings in shares of NIKE by 6.4% during the fourth quarter. Vantage Investment Partners LLC now owns 460,462 shares of the footwear maker's stock worth $34,843,000 after purchasing an additional 27,566 shares during the period. Finally, Verde Servicos Internacionais S.A. boosted its holdings in shares of NIKE by 88.0% during the fourth quarter. Verde Servicos Internacionais S.A. now owns 117,903 shares of the footwear maker's stock worth $8,922,000 after purchasing an additional 55,202 shares during the period. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director John W. Rogers, Jr. purchased 2,500 shares of the firm's stock in a transaction dated Friday, December 27th. The shares were acquired at an average cost of $76.65 per share, with a total value of $191,625.00. Following the completion of the purchase, the director now directly owns 34,403 shares of the company's stock, valued at $2,636,989.95. This trade represents a 7.84 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.10% of the company's stock.

NIKE Price Performance

NYSE:NKE traded up $1.70 during mid-day trading on Thursday, hitting $78.28. The company's stock had a trading volume of 10,894,537 shares, compared to its average volume of 12,164,288. NIKE, Inc. has a fifty-two week low of $70.32 and a fifty-two week high of $107.43. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $115.79 billion, a price-to-earnings ratio of 24.16, a P/E/G ratio of 2.36 and a beta of 1.02. The stock has a fifty day moving average of $75.55 and a 200-day moving average of $77.95.

NIKE (NYSE:NKE - Get Free Report) last issued its quarterly earnings data 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. The firm had revenue of $12.35 billion for the quarter, compared to analysts' expectations of $12.11 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The company's quarterly revenue was down 7.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.03 earnings per share. As a group, equities analysts forecast that NIKE, Inc. will post 2.1 EPS for the current fiscal year.

NIKE Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.04%. This is a boost from NIKE's previous quarterly dividend of $0.37. The ex-dividend date was Monday, December 2nd. NIKE's dividend payout ratio is currently 49.38%.

Analyst Upgrades and Downgrades

Several analysts recently commented on NKE shares. Needham & Company LLC restated a "buy" rating and set a $84.00 price target on shares of NIKE in a report on Friday, December 20th. Piper Sandler upgraded shares of NIKE from a "neutral" rating to an "overweight" rating and raised their price target for the stock from $72.00 to $90.00 in a report on Friday, January 10th. JPMorgan Chase & Co. decreased 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. Royal Bank of Canada decreased their price target on shares of NIKE from $82.00 to $80.00 and set a "sector perform" rating for the company in a report on Thursday, November 7th. Finally, Guggenheim reduced their target price on shares of NIKE from $115.00 to $110.00 and set a "buy" rating for the company in a research note on Wednesday, October 2nd. Fourteen investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, NIKE has an average rating of "Moderate Buy" and an average target price of $89.96.

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.