BigSur Wealth Management LLC Sells 4,500 Shares of NIKE, Inc. (NYSE:NKE)

BigSur Wealth Management LLC reduced its stake in NIKE, Inc. (NYSE:NKE - Free Report) by 44.8% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 5,550 shares of the footwear maker's stock after selling 4,500 shares during the quarter. BigSur Wealth Management LLC's holdings in NIKE were worth $422,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in NKE. Pacer Advisors Inc. lifted its holdings in NIKE by 9.6% during the 2nd quarter. Pacer Advisors Inc. now owns 107,821 shares of the footwear maker's stock worth $8,126,000 after purchasing an additional 9,471 shares in the last quarter. Sei Investments Co. increased its holdings in NIKE by 26.7% during the 2nd quarter. Sei Investments Co. now owns 985,520 shares of the footwear maker's stock worth $74,279,000 after acquiring an additional 207,548 shares during the period. Summit Trail Advisors LLC lifted its stake in NIKE by 23.4% in the 2nd quarter. Summit Trail Advisors LLC now owns 13,699 shares of the footwear maker's stock worth $1,037,000 after purchasing an additional 2,594 shares in the last quarter. Westwood Holdings Group Inc. bought a new position in NIKE in the 2nd quarter valued at $231,000. Finally, Legacy Financial Advisors Inc. grew its position in shares of NIKE by 17.0% during the 2nd quarter. Legacy Financial Advisors Inc. now owns 4,812 shares of the footwear maker's stock valued at $363,000 after purchasing an additional 698 shares in the last quarter. Institutional investors own 64.25% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on NKE. Piper Sandler upgraded NIKE from a "neutral" rating to an "overweight" rating and upped their target price for the stock from $72.00 to $90.00 in a research note on Friday, January 10th. Royal Bank of Canada decreased their price objective on shares of NIKE from $82.00 to $80.00 and set a "sector perform" rating on the stock in a research report on Thursday, November 7th. Robert W. Baird dropped their target price on shares of NIKE from $110.00 to $105.00 and set an "outperform" rating for the company in a research report on Monday, December 23rd. Barclays cut their price target on shares of NIKE from $79.00 to $70.00 and set an "equal weight" rating for the company in a research note on Friday, December 20th. Finally, Wells Fargo & Company lowered their price objective 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. Fourteen equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, NIKE presently has an average rating of "Moderate Buy" and an average price target of $89.96.

NIKE Trading Down 0.3 %

NKE stock traded down $0.22 during trading on Monday, reaching $70.89. The company had a trading volume of 9,688,434 shares, compared to its average volume of 11,668,856. The business has a 50 day moving average of $75.77 and a 200 day moving average of $77.95. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. The company has a market cap of $104.85 billion, a P/E ratio of 21.88, a PEG ratio of 2.26 and a beta of 1.02. NIKE, Inc. has a 52 week low of $70.32 and a 52 week high of $107.43.

NIKE (NYSE:NKE - Get Free Report) last announced its earnings results on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, beating analysts' consensus estimates of $0.63 by $0.15. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The firm had revenue of $12.35 billion for the quarter, compared to analysts' expectations of $12.11 billion. During the same quarter in the previous year, the business posted $1.03 EPS. The company's quarterly revenue was down 7.7% on a year-over-year basis. As a group, sell-side analysts forecast that NIKE, Inc. will post 2.1 earnings per share for the current fiscal year.

NIKE Increases Dividend

The firm also recently announced 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 is an increase from NIKE's previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.26%. NIKE's dividend payout ratio (DPR) is currently 49.38%.

Insider Activity

In related news, Director John W. Rogers, Jr. purchased 2,500 shares of NIKE 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 completion of the acquisition, the director now directly owns 34,403 shares of the company's stock, valued at $2,636,989.95. The trade was a 7.84 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.10% of the company's stock.

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.