Kayne Anderson Rudnick Investment Management LLC Sells 51,645 Shares of NIKE, Inc. (NYSE:NKE)

Kayne Anderson Rudnick Investment Management LLC trimmed its stake in NIKE, Inc. (NYSE:NKE - Free Report) by 10.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 458,743 shares of the footwear maker's stock after selling 51,645 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC's holdings in NIKE were worth $34,713,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Heck Capital Advisors LLC purchased a new position in shares of NIKE during the fourth quarter valued at approximately $28,000. Caitlin John LLC boosted its position in shares of NIKE by 117.0% during the fourth quarter. Caitlin John LLC now owns 371 shares of the footwear maker's stock valued at $28,000 after buying an additional 200 shares during the last quarter. Roxbury Financial LLC bought a new stake in shares of NIKE in the fourth quarter worth approximately $30,000. LFA Lugano Financial Advisors SA increased its position in NIKE by 110.5% during the fourth quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker's stock valued at $30,000 after acquiring an additional 210 shares during the last quarter. Finally, Hopwood Financial Services Inc. purchased a new position in shares of NIKE during the 4th quarter worth $30,000. Hedge funds and other institutional investors own 64.25% of the company's stock.

Insider Buying and Selling

In related news, Director Robert Holmes Swan acquired 8,600 shares of the stock in a transaction that occurred on Friday, April 4th. The shares were bought at an average price of $58.46 per share, for a total transaction of $502,756.00. Following the completion of the transaction, 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 ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Mark G. Parker sold 169,732 shares of the firm's 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 in the company, 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 owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms recently commented on NKE. UBS Group decreased their target price on NIKE from $73.00 to $66.00 and set a "neutral" rating on the stock in a research report on Friday, March 21st. Jefferies Financial Group upgraded NIKE from a "hold" rating to a "buy" rating and upped their target price for the stock from $75.00 to $115.00 in a report on Monday, February 24th. China Renaissance assumed coverage on NIKE in a report on Wednesday, March 19th. They issued a "hold" rating for the company. Truist Financial reduced their price target on shares of NIKE from $90.00 to $82.00 and set a "buy" rating for the company in a research report on Friday, March 21st. Finally, Berenberg Bank assumed coverage on shares of NIKE in a report on Tuesday, April 15th. They set a "hold" rating and a $58.00 price target on the stock. Sixteen analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $83.19.

NIKE Stock Up 0.6 %

Shares of NIKE stock traded up $0.34 on Wednesday, hitting $57.40. The company had a trading volume of 21,602,811 shares, compared to its average volume of 14,313,908. The stock has a market capitalization of $84.90 billion, a price-to-earnings ratio of 17.72, a P/E/G ratio of 2.52 and a beta of 1.15. The stock has a 50 day moving average of $67.75 and a 200-day moving average of $73.44. NIKE, Inc. has a 1 year low of $52.28 and a 1 year 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.

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

NIKE Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 3rd were paid a $0.40 dividend. The ex-dividend date was Monday, March 3rd. This represents a $1.60 annualized dividend and a yield of 2.79%. NIKE's payout ratio is 53.16%.

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.