Cetera Investment Advisers Has $14.79 Million Stock Position in NIKE, Inc. (NYSE:NKE)

Cetera Investment Advisers cut its holdings in NIKE, Inc. (NYSE:NKE - Free Report) by 14.6% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 195,444 shares of the footwear maker's stock after selling 33,494 shares during the period. Cetera Investment Advisers' holdings in NIKE were worth $14,789,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. International Assets Investment Management LLC bought a new position in NIKE during the 4th quarter worth $512,000. Watts Gwilliam & Co. LLC bought a new position in shares of NIKE in the fourth quarter worth $326,000. Fortitude Family Office LLC raised its stake in NIKE by 6.1% in the fourth quarter. Fortitude Family Office LLC now owns 2,988 shares of the footwear maker's stock valued at $226,000 after purchasing an additional 171 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in NIKE by 0.5% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 206,023 shares of the footwear maker's stock worth $15,590,000 after purchasing an additional 1,120 shares during the period. Finally, Harbor Capital Advisors Inc. grew its stake in NIKE by 2.5% during the fourth quarter. Harbor Capital Advisors Inc. now owns 16,475 shares of the footwear maker's stock worth $1,247,000 after buying an additional 404 shares in the last quarter. 64.25% of the stock is owned by institutional investors.

NIKE Trading Down 1.0 %

NYSE NKE opened at $58.35 on Friday. NIKE, Inc. has a one year low of $52.28 and a one year high of $98.04. 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 business has a 50 day simple moving average of $62.52 and a 200 day simple moving average of $71.31. The stock has a market capitalization of $86.31 billion, a P/E ratio of 18.01, a P/E/G ratio of 2.52 and a beta of 1.23.

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

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.74%. NIKE's dividend payout ratio (DPR) is presently 53.16%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on NKE. Truist Financial dropped their target price on shares of NIKE from $90.00 to $82.00 and set a "buy" rating for the company in a research report on Friday, March 21st. The Goldman Sachs Group cut their target price on NIKE from $88.00 to $72.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Telsey Advisory Group decreased their price target on NIKE from $80.00 to $70.00 and set a "market perform" rating on the stock in a research note on Tuesday. Guggenheim restated a "buy" rating and set a $110.00 price objective on shares of NIKE in a research report on Wednesday, February 12th. Finally, Dbs Bank upgraded NIKE from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, March 5th. Seventeen research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $80.48.

Insider Activity

In other news, Director Robert Holmes Swan bought 8,600 shares of the business's stock in a transaction that occurred on Friday, April 4th. The shares were bought at an average cost of $58.46 per share, for a total transaction of $502,756.00. Following the acquisition, the director now directly owns 31,983 shares in the company, valued at approximately $1,869,726.18. This trade represents a 36.78 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Mark G. Parker sold 169,732 shares of the business's stock in a transaction on Friday, February 14th. The shares were sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the sale, the chairman now owns 896,632 shares of the company's stock, valued at $65,301,708.56. This trade represents a 15.92 % decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by company insiders.

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.

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