BigSur Wealth Management LLC Sells 4,500 Shares of NIKE, Inc. (NYSE:NKE)

BigSur Wealth Management LLC reduced its position in NIKE, Inc. (NYSE:NKE) by 44.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,550 shares of the footwear maker’s stock after selling 4,500 shares during the quarter. BigSur Wealth Management LLC’s holdings in NIKE were worth $422,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Loomis Sayles & Co. L P grew its holdings in NIKE by 1,209,638.7% during the 3rd quarter. Loomis Sayles & Co. L P now owns 6,508,394 shares of the footwear maker’s stock worth $575,342,000 after acquiring an additional 6,507,856 shares during the period. Assenagon Asset Management S.A. boosted its position in shares of NIKE by 358.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 3,015,267 shares of the footwear maker’s stock valued at $228,165,000 after purchasing an additional 2,357,745 shares in the last quarter. State Street Corp grew its stake in NIKE by 3.3% during the third 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. Holocene Advisors LP bought a new stake in NIKE in the third quarter worth approximately $148,635,000. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new position in NIKE in the third quarter valued at approximately $144,927,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on NKE. DA Davidson raised shares of NIKE to a “strong-buy” rating in a research report on Monday, December 23rd. Needham & Company LLC restated a “buy” rating and issued a $84.00 price target on shares of NIKE in a report on Friday, December 20th. Barclays dropped their price objective on shares of NIKE from $79.00 to $70.00 and set an “equal weight” rating on the stock in a report on Friday, December 20th. Truist Financial reduced their target price on NIKE from $97.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Finally, Wells Fargo & Company dropped their price target on NIKE from $95.00 to $92.00 and set an “overweight” rating on the stock in a research note on Monday, December 16th. Fourteen investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $89.96.

Insider Activity at NIKE

In other NIKE news, Director John W. Rogers, Jr. acquired 2,500 shares of NIKE stock in a transaction that occurred on Friday, December 27th. The stock was acquired at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the purchase, the director now owns 34,403 shares of the company’s stock, 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.10% of the stock is currently owned by company insiders.

NIKE Stock Performance

Shares of NKE stock opened at $70.89 on Monday. NIKE, Inc. has a 52 week low of $70.32 and a 52 week high of $107.43. The firm’s 50-day simple moving average is $75.77 and its two-hundred day simple moving average is $77.94. The firm has a market cap of $104.85 billion, a price-to-earnings ratio of 21.88, a P/E/G ratio of 2.26 and a beta of 1.02. 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) last posted its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $12.11 billion. During the same quarter in the previous year, the firm posted $1.03 EPS. NIKE’s revenue was down 7.7% on a year-over-year basis. As a group, equities analysts forecast that NIKE, Inc. will post 2.1 earnings per share for the current year.

NIKE Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were issued a $0.40 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $1.60 annualized dividend and a yield of 2.26%. This is a positive change from NIKE’s previous quarterly dividend of $0.37. NIKE’s dividend payout ratio (DPR) is 49.38%.

NIKE Company 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.