NIKE, Inc. (NYSE:NKE) Stock Position Cut by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS lowered its holdings in NIKE, Inc. (NYSE:NKE - Free Report) by 40.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,365 shares of the footwear maker's stock after selling 7,874 shares during the period. Kornitzer Capital Management Inc. KS's holdings in NIKE were worth $860,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Heck Capital Advisors LLC purchased a new position in shares of NIKE in the fourth quarter worth $28,000. Caitlin John LLC grew its holdings in 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 purchasing an additional 200 shares during the period. Teachers Insurance & Annuity Association of America bought a new stake in NIKE during the third quarter valued at about $30,000. Roxbury Financial LLC bought a new position in shares of NIKE in the fourth quarter worth about $30,000. Finally, Dunhill Financial LLC boosted its stake in shares of NIKE by 52.2% in the third quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker's stock worth $44,000 after acquiring an additional 169 shares during the period. 64.25% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

NKE has been the topic of several recent analyst reports. Bank of America reduced their price target on NIKE from $95.00 to $90.00 and set a "buy" rating on the stock in a report on Friday, December 20th. Evercore ISI decreased their price objective on NIKE from $105.00 to $97.00 and set an "outperform" rating for the company in a report on Monday, December 16th. DA Davidson upgraded NIKE to a "strong-buy" rating in a research note on Monday, December 23rd. Piper Sandler upgraded NIKE from a "neutral" rating to an "overweight" rating and lifted their price objective for the company from $72.00 to $90.00 in a research note on Friday, January 10th. Finally, Truist Financial dropped their target price on NIKE from $97.00 to $90.00 and set a "buy" rating on the stock in a research report on Friday, December 20th. Fifteen research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $88.62.

NIKE Stock Performance

Shares of NKE traded down $1.25 during mid-day trading on Friday, hitting $75.98. 6,990,331 shares of the company's stock were exchanged, compared to its average volume of 13,038,988. NIKE, Inc. has a fifty-two week low of $68.62 and a fifty-two week high of $106.62. The firm has a market capitalization of $112.38 billion, a P/E ratio of 23.45, a P/E/G ratio of 2.50 and a beta of 1.01. The business's 50 day moving average is $74.33 and its two-hundred day moving average is $78.05. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE - Get Free Report) last posted its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (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 company had revenue of $12.35 billion during the quarter, compared to the consensus estimate of $12.11 billion. During the same period last year, the firm earned $1.03 EPS. The company's revenue for the quarter was down 7.7% on a year-over-year basis. On average, equities analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be paid a $0.40 dividend. The ex-dividend date is Monday, March 3rd. This represents a $1.60 annualized dividend and a yield of 2.11%. NIKE's payout ratio is currently 49.38%.

Insiders Place Their Bets

In other NIKE news, Director John W. Rogers, Jr. acquired 2,500 shares of the stock in a transaction that occurred on Friday, December 27th. The stock was acquired 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 in the company, 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. Also, Chairman Mark G. Parker sold 169,732 shares of NIKE 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 sale, the chairman now directly owns 896,632 shares in the company, valued at approximately $65,301,708.56. This trade represents a 15.92 % decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is owned by corporate insiders.

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.