Bragg Financial Advisors Inc Trims Stock Position in NIKE, Inc. (NYSE:NKE)

Bragg Financial Advisors Inc cut its position in NIKE, Inc. (NYSE:NKE - Free Report) by 9.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 57,243 shares of the footwear maker's stock after selling 6,300 shares during the period. Bragg Financial Advisors Inc's holdings in NIKE were worth $4,332,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of NKE. Advisors Capital Management LLC increased its holdings in NIKE by 5.0% in the fourth quarter. Advisors Capital Management LLC now owns 4,234 shares of the footwear maker's stock valued at $320,000 after buying an additional 202 shares during the last quarter. TCM Advisors LLC increased its holdings in shares of NIKE by 3.7% in the 4th quarter. TCM Advisors LLC now owns 11,100 shares of the footwear maker's stock valued at $840,000 after acquiring an additional 400 shares during the last quarter. Sagespring Wealth Partners LLC acquired a new stake in shares of NIKE during the 4th quarter worth about $358,000. Rockefeller Capital Management L.P. lifted its stake in NIKE by 2.1% during the fourth quarter. Rockefeller Capital Management L.P. now owns 520,734 shares of the footwear maker's stock worth $39,419,000 after purchasing an additional 10,903 shares during the last quarter. Finally, Quinn Opportunity Partners LLC acquired a new position in NIKE in the fourth quarter valued at approximately $1,816,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at NIKE

In other NIKE news, Director Robert Holmes Swan acquired 8,600 shares of the company's stock in a transaction dated Friday, April 4th. The stock was acquired at an average cost of $58.46 per share, with a total value of $502,756.00. Following the purchase, the director now directly owns 31,983 shares in the company, valued at approximately $1,869,726.18. This trade represents a 36.78 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Mark G. Parker sold 169,732 shares of the company's stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $72.83, for a total value of $12,361,581.56. Following the completion of the sale, the chairman now directly owns 896,632 shares in the company, valued at approximately $65,301,708.56. The trade was a 15.92 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company's stock.

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Analyst Upgrades and Downgrades

A number of research firms have weighed in on NKE. Citigroup cut shares of NIKE from a "buy" rating to a "neutral" rating and cut their price objective for the stock from $102.00 to $72.00 in a report on Friday, February 7th. Jefferies Financial Group raised shares of NIKE from a "hold" rating to a "buy" rating and boosted their price target for the company from $75.00 to $115.00 in a research report on Monday, February 24th. Wells Fargo & Company dropped their price objective on NIKE from $90.00 to $85.00 and set an "overweight" rating on the stock in a report on Friday, March 21st. Guggenheim reissued a "buy" rating and issued a $110.00 target price on shares of NIKE in a report on Wednesday, February 12th. Finally, Truist Financial dropped their price target on NIKE from $90.00 to $82.00 and set a "buy" rating on the stock in a research note on Friday, March 21st. Fifteen research 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. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $86.19.

NIKE Price Performance

NKE stock traded up $0.98 during trading on Monday, reaching $55.37. 28,325,386 shares of the company were exchanged, compared to its average volume of 14,093,492. NIKE, Inc. has a 52-week low of $52.28 and a 52-week high of $98.04. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. The company has a market cap of $81.90 billion, a P/E ratio of 17.09, a PEG ratio of 2.52 and a beta of 1.15. The stock's 50 day moving average price is $69.65 and its 200 day moving average price is $74.59.

NIKE (NYSE:NKE - Get Free Report) last announced its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, topping the consensus estimate of $0.28 by $0.26. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The business had revenue of $11.27 billion for the quarter, compared to analyst estimates of $11.02 billion. During the same quarter in the previous year, the company earned $0.98 EPS. The company's quarterly revenue was down 9.1% on a year-over-year basis. As a group, analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date was Monday, March 3rd. NIKE's dividend payout ratio is currently 53.16%.

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.