North Star Asset Management Inc. Has $6.17 Million Stock Position in NIKE, Inc. (NYSE:NKE)

North Star Asset Management Inc. lessened its stake in NIKE, Inc. (NYSE:NKE - Free Report) by 13.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 81,529 shares of the footwear maker's stock after selling 12,254 shares during the quarter. North Star Asset Management Inc.'s holdings in NIKE were worth $6,169,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in NKE. Heck Capital Advisors LLC acquired a new position in NIKE in the fourth quarter valued at $28,000. Caitlin John LLC lifted its stake in shares of 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 in the last quarter. Roxbury Financial LLC acquired a new position in NIKE during the fourth quarter valued at approximately $30,000. LFA Lugano Financial Advisors SA lifted its position in NIKE by 110.5% during the fourth quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker's stock valued at $30,000 after buying an additional 210 shares in the last quarter. Finally, Hopwood Financial Services Inc. acquired a new position in NIKE during the fourth quarter valued at approximately $30,000. Institutional investors and hedge funds own 64.25% of the company's stock.

Insiders Place Their Bets

In related news, Director Robert Holmes Swan purchased 8,600 shares of the company's stock in a transaction on Friday, April 4th. The shares were bought at an average price of $58.46 per share, with a total value of $502,756.00. Following the completion of the acquisition, the director now owns 31,983 shares of the company's stock, valued at approximately $1,869,726.18. This represents a 36.78% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

NKE has been the topic of several recent research reports. UBS Group reduced their target price on shares of NIKE from $73.00 to $66.00 and set a "neutral" rating on the stock in a report on Friday, March 21st. JPMorgan Chase & Co. reduced their price objective on NIKE from $64.00 to $56.00 and set a "neutral" rating on the stock in a research note on Monday, May 5th. Piper Sandler reduced their price objective on NIKE from $90.00 to $70.00 and set an "overweight" rating on the stock in a research note on Friday, April 11th. Morgan Stanley reduced their target price on shares of NIKE from $72.00 to $70.00 and set an "equal weight" rating on the stock in a research report on Friday, March 21st. Finally, Barclays cut their price objective on shares of NIKE from $70.00 to $60.00 and set an "equal weight" rating on the stock in a report on Monday, May 12th. Seventeen research 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. Based on data from MarketBeat.com, NIKE currently has an average rating of "Moderate Buy" and a consensus target price of $80.26.

NIKE Stock Performance

NYSE:NKE traded down $0.37 during mid-day trading on Thursday, hitting $61.41. The stock had a trading volume of 6,961,079 shares, compared to its average volume of 14,944,753. The stock has a market capitalization of $90.83 billion, a price-to-earnings ratio of 18.98, a P/E/G ratio of 2.52 and a beta of 1.23. The company has a 50 day simple moving average of $59.32 and a 200-day simple moving average of $69.89. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $98.04. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE - Get Free Report) last released its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, beating analysts' consensus estimates of $0.28 by $0.26. The company had revenue of $11.27 billion for the quarter, compared to analysts' expectations of $11.02 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The business'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 company posted $0.98 earnings per share. On average, research analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be paid a dividend of $0.40 per share. The ex-dividend date is Monday, June 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.61%. NIKE's dividend payout ratio is presently 53.16%.

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.