NIKE, Inc. (NYSE:NKE) Stock Position Cut by Berkshire Bank

Berkshire Bank trimmed its stake in shares of NIKE, Inc. (NYSE:NKEFree Report) by 13.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,046 shares of the footwear maker’s stock after selling 1,699 shares during the quarter. Berkshire Bank’s holdings in NIKE were worth $836,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. Garrison Point Advisors LLC boosted its stake in NIKE by 1.9% during the 3rd quarter. Garrison Point Advisors LLC now owns 6,704 shares of the footwear maker’s stock valued at $593,000 after purchasing an additional 126 shares in the last quarter. Stephens Consulting LLC lifted its holdings in shares of NIKE by 20.0% in the third quarter. Stephens Consulting LLC now owns 768 shares of the footwear maker’s stock valued at $68,000 after buying an additional 128 shares during the period. PSI Advisors LLC boosted its stake in NIKE by 26.3% during the third quarter. PSI Advisors LLC now owns 624 shares of the footwear maker’s stock valued at $55,000 after buying an additional 130 shares in the last quarter. Chapin Davis Inc. grew its holdings in NIKE by 1.2% during the third quarter. Chapin Davis Inc. now owns 11,430 shares of the footwear maker’s stock worth $1,010,000 after acquiring an additional 133 shares during the period. Finally, Meridian Financial Partners LLC raised its position in NIKE by 1.6% in the third quarter. Meridian Financial Partners LLC now owns 8,396 shares of the footwear maker’s stock worth $742,000 after acquiring an additional 133 shares in the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director John W. Rogers, Jr. bought 2,500 shares of the business’s stock in a transaction on Friday, December 27th. The stock was purchased 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. The trade was a 7.84 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.10% of the company’s stock.

NIKE Stock Performance

NKE stock opened at $75.69 on Tuesday. The firm has a 50 day moving average of $75.45 and a two-hundred day moving average of $77.94. NIKE, Inc. has a 12 month low of $70.32 and a 12 month high of $107.43. The company has a market capitalization of $111.96 billion, a price-to-earnings ratio of 23.36, a P/E/G ratio of 2.36 and a beta of 1.02. 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:NKEGet Free Report) last issued its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (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 firm had revenue of $12.35 billion during the quarter, compared to analysts’ expectations of $12.11 billion. During the same period in the prior year, the company posted $1.03 earnings per share. NIKE’s revenue for the quarter was down 7.7% on a year-over-year basis. As a group, equities analysts anticipate that NIKE, Inc. will post 2.1 EPS for the current fiscal year.

NIKE Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.11%. This is an increase from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date was Monday, December 2nd. NIKE’s dividend payout ratio (DPR) is presently 49.38%.

Analysts Set New Price Targets

NKE has been the subject of several research reports. TD Cowen reduced their price objective on shares of NIKE from $78.00 to $73.00 and set a “hold” rating for the company in a research report on Monday, November 18th. Royal Bank of Canada decreased their price target on shares of NIKE from $82.00 to $80.00 and set a “sector perform” rating on the stock in a research report on Thursday, November 7th. Guggenheim dropped their price target on NIKE from $115.00 to $110.00 and set a “buy” rating on the stock in a report on Wednesday, October 2nd. JPMorgan Chase & Co. reduced their price objective on NIKE from $77.00 to $73.00 and set a “neutral” rating for the company in a research note on Monday, December 2nd. Finally, Piper Sandler raised NIKE from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $72.00 to $90.00 in a research report on Friday, January 10th. Fourteen equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $89.96.

Read Our Latest Analysis on NIKE

NIKE Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for NIKE (NYSE:NKE)

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