Congress Wealth Management LLC DE Sells 106,464 Shares of NIKE, Inc. (NYSE:NKE)
Congress Wealth Management LLC DE has significantly reduced its stake in NIKE, Inc. by 94.6%, selling 106,464 shares and now holding 6,022 shares valued at $456,000. Other institutional investors have also adjusted their positions, with State Street Corp increasing its stake by 3.3%. NIKE's stock has dipped 3.8%, and the company recently reported quarterly earnings of $0.54 EPS, exceeding estimates. A quarterly dividend of $0.40 has been declared, with a yield of 2.53%. Analyst ratings have seen changes, with Piper Sandler upgrading NIKE to "overweight."
Congress Wealth Management LLC DE decreased its position in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 94.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,022 shares of the footwear maker's stock after selling 106,464 shares during the period. Congress Wealth Management LLC DE's holdings in NIKE were worth $456,000 at the end of the most recent reporting period.
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Other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp raised its holdings in shares of NIKE by 3.3% during the 3rd quarter. State Street Corp now owns 57,916,789 shares of the footwear maker's stock valued at $5,140,796,000 after buying an additional 1,862,021 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of NIKE by 5.1% during the third quarter. Wellington Management Group LLP now owns 27,442,145 shares of the footwear maker's stock worth $2,425,886,000 after acquiring an additional 1,343,093 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of NIKE by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 25,029,380 shares of the footwear maker's stock worth $2,204,451,000 after acquiring an additional 251,411 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of NIKE by 18.1% in the 4th quarter. Bank of New York Mellon Corp now owns 20,367,993 shares of the footwear maker's stock valued at $1,541,246,000 after purchasing an additional 3,121,929 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of NIKE by 7.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 9,205,753 shares of the footwear maker's stock valued at $696,599,000 after purchasing an additional 603,219 shares during the last quarter. Institutional investors own 64.25% of the company's stock.
Insider Buying and Selling at NIKE
In other NIKE news, 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 completion of the sale, the chairman now owns 896,632 shares of the company's stock, valued at approximately $65,301,708.56. The trade was a 15.92 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.10% of the stock is owned by company insiders.
NIKE Trading Down 3.8 %
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NYSE:NKE opened at $63.32 on Friday. The firm has a market capitalization of $93.65 billion, a P/E ratio of 19.54, a PEG ratio of 2.52 and a beta of 1.02. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. NIKE, Inc. has a one year low of $63.14 and a one year high of $98.04. The company's 50-day simple moving average is $74.16 and its 200 day simple moving average is $76.94.
NIKE (NYSE:NKE - Get Free Report) last issued its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, topping analysts' consensus estimates of $0.28 by $0.26. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The firm had revenue of $11.27 billion for the quarter, compared to analysts' expectations of $11.02 billion. During the same period in the previous year, the firm posted $0.98 EPS. The business's revenue for the quarter was down 9.1% compared to the same quarter last year. As a group, analysts forecast that NIKE, Inc. will post 2.05 EPS for the current fiscal year.
NIKE Dividend Announcement
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The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date is Monday, March 3rd. NIKE's payout ratio is 53.16%.
Analyst Ratings Changes
NKE has been the subject of several analyst reports. Piper Sandler upgraded shares of NIKE from a "neutral" rating to an "overweight" rating and upped their price target for the company from $72.00 to $90.00 in a research report on Friday, January 10th. Wells Fargo & Company dropped their target price on NIKE from $90.00 to $85.00 and set an "overweight" rating for the company in a report on Friday, March 21st. Morgan Stanley decreased their price target on NIKE from $72.00 to $70.00 and set an "equal weight" rating on the stock in a research note on Friday, March 21st. Stifel Nicolaus dropped their price objective on NIKE from $79.00 to $75.00 and set a "hold" rating for the company in a research note on Friday, December 20th. Finally, China Renaissance initiated coverage on shares of NIKE in a research note on Wednesday, March 19th. They issued a "hold" rating on the stock. Fifteen analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $87.38.
View Our Latest Stock Analysis on NIKE
NIKE Company 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.
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