Pitcairn Co. Lowers Stake in NIKE, Inc. (NYSE:NKE)

Pitcairn Co. decreased its holdings in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 43.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,763 shares of the footwear maker's stock after selling 11,958 shares during the quarter. Pitcairn Co.'s holdings in NIKE were worth $1,193,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Heck Capital Advisors LLC acquired a new position in NIKE during the 4th quarter worth about $28,000. Caitlin John LLC lifted 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 worth $28,000 after purchasing an additional 200 shares in the last quarter. Roxbury Financial LLC purchased a new position in shares of NIKE in the fourth quarter valued at approximately $30,000. LFA Lugano Financial Advisors SA grew its holdings in shares of NIKE by 110.5% in the fourth quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker's stock valued at $30,000 after purchasing an additional 210 shares in the last quarter. Finally, Hopwood Financial Services Inc. purchased a new stake in NIKE during the 4th quarter worth approximately $30,000. Hedge funds and other institutional investors own 64.25% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on NKE shares. Dbs Bank upgraded NIKE from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 5th. Guggenheim reaffirmed a "buy" rating and set a $110.00 price target on shares of NIKE in a report on Wednesday, February 12th. Piper Sandler upgraded NIKE from a "neutral" rating to an "overweight" rating and increased their price objective for the company from $72.00 to $90.00 in a report on Friday, January 10th. Cfra Research raised NIKE to a "moderate buy" rating in a research report on Friday, March 21st. Finally, DA Davidson raised NIKE to a "strong-buy" rating in a report on Monday, December 23rd. Fifteen research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $87.38.

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Insider Transactions at NIKE

In other NIKE news, 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 transaction of $12,361,581.56. Following the completion of the transaction, 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 1.10% of the company's stock.

NIKE Price Performance

Shares of NKE traded down $3.12 on Monday, reaching $54.13. The stock had a trading volume of 20,746,596 shares, compared to its average volume of 13,480,043. The firm has a 50-day moving average of $72.96 and a 200 day moving average of $76.27. The firm has a market capitalization of $80.06 billion, a PE ratio of 16.62, a PEG ratio of 2.52 and a beta of 1.15. NIKE, Inc. has a twelve month low of $52.50 and a twelve month high of $98.04. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57.

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

NIKE Announces Dividend

The firm 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. The ex-dividend date was Monday, March 3rd. This represents a $1.60 annualized dividend and a dividend yield of 2.96%. NIKE's dividend payout ratio is presently 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.