Gotham Asset Management LLC Trims Stock Position in NIKE, Inc. (NYSE:NKE)

Gotham Asset Management LLC lessened its position in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 40.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 101,984 shares of the footwear maker's stock after selling 68,096 shares during the quarter. Gotham Asset Management LLC's holdings in NIKE were worth $7,717,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Harbor Capital Advisors Inc. grew its position in shares of 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 purchasing an additional 404 shares in the last quarter. Czech National Bank grew its position in shares of NIKE by 5.5% during the fourth quarter. Czech National Bank now owns 258,146 shares of the footwear maker's stock worth $19,534,000 after purchasing an additional 13,396 shares in the last quarter. Brookstone Capital Management grew its position in shares of NIKE by 16.0% during the fourth quarter. Brookstone Capital Management now owns 105,797 shares of the footwear maker's stock worth $8,006,000 after purchasing an additional 14,621 shares in the last quarter. Fragasso Financial Advisors Inc grew its position in shares of NIKE by 9.6% during the fourth quarter. Fragasso Financial Advisors Inc now owns 3,293 shares of the footwear maker's stock worth $249,000 after purchasing an additional 289 shares in the last quarter. Finally, Wedmont Private Capital grew its position in shares of NIKE by 8.8% during the fourth quarter. Wedmont Private Capital now owns 4,927 shares of the footwear maker's stock worth $351,000 after purchasing an additional 398 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently commented on NKE. UBS Group dropped their price target on NIKE from $73.00 to $66.00 and set a "neutral" rating for the company in a research note on Friday, March 21st. Bank of America lowered their price objective on NIKE from $90.00 to $80.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Dbs Bank raised NIKE from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 5th. Royal Bank of Canada reduced their price target on NIKE from $67.00 to $66.00 and set a "sector perform" rating on the stock in a report on Friday, March 21st. Finally, Truist Financial reduced their price target on NIKE from $90.00 to $82.00 and set a "buy" rating on the stock in a report on Friday, March 21st. Seventeen research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, NIKE presently has an average rating of "Moderate Buy" and a consensus target price of $80.30.

Insiders Place Their Bets

In other news, Director Robert Holmes Swan purchased 8,600 shares of the stock in a transaction on Friday, April 4th. The stock was bought at an average price of $58.46 per share, with a total value of $502,756.00. Following the transaction, the director now owns 31,983 shares in the company, valued at $1,869,726.18. The trade was a 36.78% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.10% of the stock is currently owned by insiders.

NIKE Stock Up 1.2%

Shares of NIKE stock traded up $0.73 during trading on Friday, reaching $63.13. The company's stock had a trading volume of 12,902,903 shares, compared to its average volume of 14,813,994. The company has a 50-day simple moving average of $61.29 and a two-hundred day simple moving average of $70.85. NIKE, Inc. has a 1-year low of $52.28 and a 1-year 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. The company has a market cap of $93.38 billion, a price-to-earnings ratio of 19.48, a P/E/G ratio of 2.52 and a beta of 1.23.

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 company had revenue of $11.27 billion during the quarter, compared to analysts' expectations of $11.02 billion. During the same quarter in the previous year, the firm posted $0.98 EPS. The firm's revenue was down 9.1% compared to the same quarter last year. As a group, equities analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders 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 yield of 2.53%. NIKE's dividend payout ratio is currently 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.