NIKE, Inc. (NYSE:NKE) Shares Sold by Avity Investment Management Inc.

Avity Investment Management Inc. decreased its holdings in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 61.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 30,452 shares of the footwear maker's stock after selling 49,066 shares during the quarter. Avity Investment Management Inc.'s holdings in NIKE were worth $2,304,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NKE. Teachers Insurance & Annuity Association of America purchased a new stake in NIKE in the 3rd quarter valued at about $30,000. VitalStone Financial LLC raised its stake in shares of NIKE by 52.6% in the 3rd quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker's stock valued at $38,000 after acquiring an additional 150 shares during the period. Dunhill Financial LLC raised its stake in shares of NIKE by 52.2% in the 3rd quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker's stock valued at $44,000 after acquiring an additional 169 shares during the period. Riverview Trust Co acquired a new position in shares of NIKE in the 3rd quarter worth approximately $52,000. Finally, Catalyst Capital Advisors LLC purchased a new position in shares of NIKE during the 3rd quarter worth approximately $54,000. Hedge funds and other institutional investors own 64.25% of the company's stock.

Insiders Place Their Bets

In other NIKE news, Director John W. Rogers, Jr. bought 2,500 shares of the firm's stock in a transaction dated Friday, December 27th. The stock was acquired at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the purchase, 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 ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.10% of the stock is currently owned by insiders.

NIKE Stock Performance

Shares of NKE traded down $0.13 during midday trading on Wednesday, reaching $71.04. 13,450,153 shares of the stock were exchanged, compared to its average volume of 13,185,806. NIKE, Inc. has a twelve month low of $70.53 and a twelve month high of $107.43. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58. The company has a market capitalization of $105.08 billion, a price-to-earnings ratio of 20.36, a PEG ratio of 1.89 and a beta of 1.02. The business's 50-day moving average price is $76.05 and its 200 day moving average price is $78.06.

NIKE (NYSE:NKE - Get Free Report) last released 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. The company had revenue of $12.35 billion for the quarter, compared to analyst estimates of $12.11 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The firm's revenue was down 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.03 earnings per share. On average, sell-side analysts expect that NIKE, Inc. will post 2.72 EPS for the current fiscal year.

NIKE Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were paid a dividend of $0.40 per share. The ex-dividend date was Monday, December 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.25%. This is a boost from NIKE's previous quarterly dividend of $0.37. NIKE's dividend payout ratio is currently 49.38%.

Analyst Ratings Changes

A number of research analysts have commented on NKE shares. Piper Sandler upgraded NIKE from a "neutral" rating to an "overweight" rating and upped their price target for the stock from $72.00 to $90.00 in a research note on Friday, January 10th. UBS Group reissued a "neutral" rating and set a $73.00 target price on shares of NIKE in a research note on Thursday, December 26th. Stifel Nicolaus dropped their target price on NIKE from $79.00 to $75.00 and set a "hold" rating for the company in a research report on Friday, December 20th. Wells Fargo & Company reduced their price target on shares of NIKE from $95.00 to $92.00 and set an "overweight" rating on the stock in a research report on Monday, December 16th. Finally, Evercore ISI dropped their price objective on shares of NIKE from $105.00 to $97.00 and set an "outperform" rating for the company in a report on Monday, December 16th. Fourteen equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $89.96.

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.