Smith Salley Wealth Management Sells 5,443 Shares of NIKE, Inc. (NYSE:NKE)

Smith Salley Wealth Management trimmed its stake in NIKE, Inc. (NYSE:NKE - Free Report) by 19.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,075 shares of the footwear maker's stock after selling 5,443 shares during the quarter. Smith Salley Wealth Management's holdings in NIKE were worth $1,670,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NKE. State Street Corp raised its holdings in shares of NIKE by 3.3% in the 3rd quarter. State Street Corp now owns 57,916,789 shares of the footwear maker's stock worth $5,140,796,000 after purchasing an additional 1,862,021 shares during the period. Wellington Management Group LLP raised its stake in shares of NIKE by 5.1% in the third quarter. Wellington Management Group LLP now owns 27,442,145 shares of the footwear maker's stock valued at $2,425,886,000 after buying an additional 1,343,093 shares during the period. Geode Capital Management LLC raised its stake in shares of NIKE by 1.0% in the third quarter. Geode Capital Management LLC now owns 25,029,380 shares of the footwear maker's stock valued at $2,204,451,000 after buying an additional 251,411 shares during the period. Legal & General Group Plc grew its stake in shares of NIKE by 5.5% during the 2nd quarter. Legal & General Group Plc now owns 11,049,294 shares of the footwear maker's stock worth $832,785,000 after acquiring an additional 571,544 shares during the period. Finally, Fisher Asset Management LLC increased its holdings in NIKE by 6.0% in the 3rd quarter. Fisher Asset Management LLC now owns 10,303,182 shares of the footwear maker's stock worth $910,801,000 after acquiring an additional 583,207 shares during the last quarter. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Piper Sandler raised shares of NIKE from a "neutral" rating to an "overweight" rating and upped their price objective for the company from $72.00 to $90.00 in a report on Friday, January 10th. Wells Fargo & Company dropped their price target on shares of NIKE from $95.00 to $92.00 and set an "overweight" rating on the stock in a research note on Monday, December 16th. Needham & Company LLC reiterated a "buy" rating and issued a $84.00 price objective on shares of NIKE in a research note on Friday, December 20th. Jefferies Financial Group increased their target price on NIKE from $80.00 to $85.00 and gave the stock a "hold" rating in a research report on Monday, September 30th. Finally, Barclays decreased their price objective on NIKE from $79.00 to $70.00 and set an "equal weight" rating on the stock in a research note on Friday, December 20th. Fourteen investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $89.96.

NIKE Stock Down 0.3 %

NYSE NKE traded down $0.22 during mid-day trading on Friday, reaching $70.89. The stock had a trading volume of 9,688,434 shares, compared to its average volume of 11,668,856. The stock has a market cap of $104.85 billion, a PE ratio of 21.88, a price-to-earnings-growth ratio of 2.26 and a beta of 1.02. NIKE, Inc. has a 1 year low of $70.32 and a 1 year high of $107.43. 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 company has a fifty day moving average price of $75.77 and a 200 day moving average price of $77.94.

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 for the quarter, topping the consensus estimate of $0.63 by $0.15. The firm had revenue of $12.35 billion during the quarter, compared to analysts' expectations of $12.11 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The company's revenue was down 7.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.03 earnings per share. On average, research analysts expect that NIKE, Inc. will post 2.1 earnings per share for the current year.

NIKE Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were paid a dividend of $0.40 per share. The ex-dividend date was Monday, December 2nd. This is a positive change from NIKE's previous quarterly dividend of $0.37. This represents a $1.60 dividend on an annualized basis and a yield of 2.26%. NIKE's payout ratio is currently 49.38%.

Insider Buying and Selling

In other NIKE news, Director John W. Rogers, Jr. purchased 2,500 shares of the company's stock in a transaction dated Friday, December 27th. The shares were acquired at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the purchase, 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.10% of the stock is currently 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.