Citizens Financial Group Inc. RI Reduces Stock Holdings in NIKE, Inc. (NYSE:NKE)

Citizens Financial Group Inc. RI reduced its position in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 53.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 42,298 shares of the footwear maker's stock after selling 47,978 shares during the quarter. Citizens Financial Group Inc. RI's holdings in NIKE were worth $3,201,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Heck Capital Advisors LLC purchased a new stake in NIKE during the fourth quarter valued at approximately $28,000. Caitlin John LLC grew its position in shares of NIKE by 117.0% during the 4th quarter. Caitlin John LLC now owns 371 shares of the footwear maker's stock valued at $28,000 after acquiring an additional 200 shares during the period. Teachers Insurance & Annuity Association of America purchased a new stake in shares of NIKE in the 3rd quarter worth $30,000. Roxbury Financial LLC bought a new position in NIKE in the 4th quarter worth $30,000. Finally, BankPlus Trust Department purchased a new position in NIKE during the fourth quarter valued at $34,000. Hedge funds and other institutional investors own 64.25% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on NKE. Guggenheim restated a "buy" rating and issued a $110.00 price target on shares of NIKE in a research report on Wednesday, February 12th. Jefferies Financial Group upgraded shares of NIKE from a "hold" rating to a "buy" rating and raised their target price for the stock from $75.00 to $115.00 in a research note on Monday, February 24th. Stifel Nicolaus dropped their price target on shares of NIKE from $79.00 to $75.00 and set a "hold" rating for the company in a research report on Friday, December 20th. Truist Financial reduced their price objective on shares of NIKE from $97.00 to $90.00 and set a "buy" rating for the company in a research note on Friday, December 20th. Finally, Dbs Bank upgraded shares of NIKE from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 5th. Fourteen equities 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 company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $89.77.

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Insider Buying and Selling

In other NIKE news, Director John W. Rogers, Jr. acquired 2,500 shares of the business's stock in a transaction on Friday, December 27th. The shares were bought at an average price of $76.65 per share, with a total value of $191,625.00. Following the transaction, 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 position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman Mark G. Parker sold 169,732 shares of NIKE 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 sale, the chairman now owns 896,632 shares of the company's stock, valued at approximately $65,301,708.56. This trade represents a 15.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by corporate insiders.

NIKE Trading Down 2.9 %

Shares of NYSE NKE opened at $74.21 on Wednesday. NIKE, Inc. has a 1-year low of $68.62 and a 1-year high of $102.49. 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 business's 50 day moving average is $74.77 and its two-hundred day moving average is $78.02. The stock has a market capitalization of $109.76 billion, a P/E ratio of 22.90, a PEG ratio of 2.52 and a beta of 1.02.

NIKE (NYSE:NKE - Get Free Report) last released its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.15. The firm had revenue of $12.35 billion for the quarter, compared to the consensus estimate of $12.11 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The company's revenue for the quarter was down 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.03 EPS. As a group, research analysts expect that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

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

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.

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