NIKE, Inc. (NYSE:NKE) Position Reduced by Atlantic Union Bankshares Corp

Atlantic Union Bankshares Corp reduced its holdings in NIKE, Inc. (NYSE:NKE - Free Report) by 12.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,575 shares of the footwear maker's stock after selling 3,961 shares during the quarter. Atlantic Union Bankshares Corp's holdings in NIKE were worth $2,087,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Teachers Insurance & Annuity Association of America acquired a new position in NIKE during the third quarter worth about $30,000. Caitlin John LLC grew its holdings in shares of NIKE by 117.0% in the 4th quarter. Caitlin John LLC now owns 371 shares of the footwear maker's stock worth $28,000 after acquiring an additional 200 shares during the period. Heck Capital Advisors LLC purchased a new position in NIKE in the 4th quarter valued at approximately $28,000. Roxbury Financial LLC acquired a new position in NIKE during the fourth quarter worth $30,000. Finally, BankPlus Trust Department acquired a new position in NIKE during the fourth quarter worth $34,000. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on NKE. Jefferies Financial Group upgraded NIKE from a "hold" rating to a "buy" rating and raised their price target for the company from $75.00 to $115.00 in a research report on Monday, February 24th. BMO Capital Markets lifted their target price on shares of NIKE from $92.00 to $95.00 and gave the stock an "outperform" rating in a research report on Monday, February 3rd. Evercore ISI lowered their price target on shares of NIKE from $105.00 to $97.00 and set an "outperform" rating on the stock in a research report on Monday, December 16th. Dbs Bank raised shares of NIKE from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 5th. Finally, Piper Sandler raised NIKE from a "neutral" rating to an "overweight" rating and boosted their price target for the stock from $72.00 to $90.00 in a report on Friday, January 10th. Fourteen investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $89.77.

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Insider Buying and Selling at NIKE

In other news, Chairman Mark G. Parker sold 169,732 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $72.83, for a total value of $12,361,581.56. Following the completion of the transaction, the chairman now owns 896,632 shares of the company's stock, valued at approximately $65,301,708.56. This represents a 15.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director John W. Rogers, Jr. acquired 2,500 shares of the company's stock in a transaction dated Friday, December 27th. The stock was purchased at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the purchase, the director now directly owns 34,403 shares in the company, valued at approximately $2,636,989.95. This represents a 7.84 % increase in their position. The disclosure for this purchase can be found here. 1.10% of the stock is owned by company insiders.

NIKE Stock Down 3.0 %

Shares of NKE traded down $2.32 during midday trading on Tuesday, reaching $74.08. 5,731,004 shares of the company were exchanged, compared to its average volume of 13,049,696. The stock has a 50-day moving average price of $74.80 and a 200-day moving average price of $78.09. The company has a market cap of $109.57 billion, a price-to-earnings ratio of 22.87, a P/E/G ratio of 2.52 and a beta of 1.02. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a 1-year low of $68.62 and a 1-year high of $102.49.

NIKE (NYSE:NKE - Get Free Report) last issued its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 EPS 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 business had revenue of $12.35 billion for the quarter, compared to analysts' expectations of $12.11 billion. During the same quarter last year, the company posted $1.03 earnings per share. The company's quarterly revenue was down 7.7% compared to the same quarter last year. Research analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.16%. The ex-dividend date of this dividend is Monday, March 3rd. NIKE's dividend payout ratio (DPR) is 49.38%.

About NIKE

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.