Avity Investment Management Inc. Has $1.63 Million Holdings in NIKE, Inc. (NYSE:NKE)

Avity Investment Management Inc. cut its stake in NIKE, Inc. (NYSE:NKE - Free Report) by 15.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,701 shares of the footwear maker's stock after selling 4,751 shares during the period. Avity Investment Management Inc.'s holdings in NIKE were worth $1,632,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Caitlin John LLC boosted its holdings in NIKE by 117.0% in the 4th quarter. Caitlin John LLC now owns 371 shares of the footwear maker's stock valued at $28,000 after purchasing an additional 200 shares during the period. Heck Capital Advisors LLC bought a new stake in NIKE in the 4th quarter valued at $28,000. Roxbury Financial LLC bought a new stake in NIKE in the 4th quarter valued at $30,000. LFA Lugano Financial Advisors SA boosted its holdings in NIKE by 110.5% in the 4th quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker's stock valued at $30,000 after purchasing an additional 210 shares during the period. Finally, Hopwood Financial Services Inc. bought a new stake in NIKE in the 4th quarter valued at $30,000. 64.25% of the stock is owned by institutional investors.

NIKE Stock Performance

Shares of NKE traded up $0.15 during trading hours on Friday, hitting $62.82. The company had a trading volume of 13,290,375 shares, compared to its average volume of 15,083,557. The firm has a market cap of $92.92 billion, a price-to-earnings ratio of 19.39, a PEG ratio of 2.52 and a beta of 1.21. The business has a fifty day moving average of $58.90 and a 200-day moving average of $69.30. NIKE, Inc. has a 12 month low of $52.28 and a 12 month high of $98.04. 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:NKE - Get Free Report) last issued 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 for 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%. The company's revenue was down 9.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.98 earnings per share. Equities analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current fiscal 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 $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.55%. The ex-dividend date is Monday, June 2nd. NIKE's payout ratio is presently 53.16%.

Insider Activity

In related news, Director Robert Holmes Swan acquired 8,600 shares of the company's stock in a transaction dated Friday, April 4th. The shares were bought at an average cost of $58.46 per share, with a total value of $502,756.00. Following the completion of the transaction, the director now directly owns 31,983 shares of the company's stock, valued at $1,869,726.18. This trade represents a 36.78% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.10% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on NKE. China Renaissance began coverage on shares of NIKE in a report on Wednesday, March 19th. They issued a "hold" rating for the company. Needham & Company LLC reduced their price objective on shares of NIKE from $84.00 to $80.00 and set a "buy" rating for the company in a report on Monday, March 17th. Piper Sandler reduced their price objective on shares of NIKE from $90.00 to $70.00 and set an "overweight" rating for the company in a report on Friday, April 11th. The Goldman Sachs Group reduced their price objective on shares of NIKE from $88.00 to $72.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Finally, Bank of America reduced their price objective on shares of NIKE from $90.00 to $80.00 and set a "buy" rating for the company in a report on Friday, April 25th. Seventeen analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $80.26.

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.