Cadence Bank Grows Stock Holdings in NIKE, Inc. (NYSE:NKE)

Cadence Bank increased its holdings in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 36.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 75,428 shares of the footwear maker's stock after purchasing an additional 20,146 shares during the period. Cadence Bank's holdings in NIKE were worth $5,708,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in NKE. Heck Capital Advisors LLC acquired a new position in NIKE during the fourth quarter worth $28,000. Caitlin John LLC raised its position in shares of NIKE by 117.0% during the 4th quarter. Caitlin John LLC now owns 371 shares of the footwear maker's stock worth $28,000 after purchasing an additional 200 shares during the last quarter. Roxbury Financial LLC purchased a new position in NIKE during the fourth quarter worth $30,000. LFA Lugano Financial Advisors SA raised its stake 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 last quarter. Finally, Hopwood Financial Services Inc. purchased a new stake in NIKE in the 4th quarter worth approximately $30,000. 64.25% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NKE has been the subject of several research analyst reports. BMO Capital Markets dropped their price target on shares of NIKE from $95.00 to $92.00 and set an "outperform" rating for the company in a research report on Friday, March 21st. Truist Financial cut their target price on shares of NIKE from $90.00 to $82.00 and set a "buy" rating on the stock in a research note on Friday, March 21st. Piper Sandler cut their price objective on NIKE from $90.00 to $70.00 and set an "overweight" rating on the stock in a research report on Friday, April 11th. Morgan Stanley lowered their price objective on shares of NIKE from $72.00 to $70.00 and set an "equal weight" rating for the company in a research report on Friday, March 21st. Finally, Royal Bank of Canada lowered their price target on shares of NIKE from $67.00 to $66.00 and set a "sector perform" rating for the company in a report on Friday, March 21st. Sixteen investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $83.19.

Insider Activity

In other NIKE news, Director Robert Holmes Swan bought 8,600 shares of the firm's stock in a transaction dated Friday, April 4th. The shares were purchased at an average price of $58.46 per share, for a total transaction of $502,756.00. Following the transaction, the director now directly owns 31,983 shares of the company's stock, valued at approximately $1,869,726.18. This represents a 36.78 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Mark G. Parker sold 169,732 shares of the company's stock in a transaction dated 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 completion of the transaction, the chairman now directly owns 896,632 shares in the company, valued at $65,301,708.56. The trade was a 15.92 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.10% of the company's stock.

NIKE Stock Performance

NYSE:NKE traded up $1.64 during trading hours on Tuesday, reaching $57.76. The company had a trading volume of 6,770,104 shares, compared to its average volume of 14,194,422. The firm's 50 day moving average price is $68.07 and its 200-day moving average price is $73.55. The firm has a market cap of $85.44 billion, a price-to-earnings ratio of 17.83, a PEG ratio of 2.52 and a beta of 1.15. 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 earnings results on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, beating 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. The company's quarterly revenue was down 9.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.98 earnings per share. On average, analysts forecast that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 3rd were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.77%. NIKE's payout ratio is 53.16%.

NIKE Company Profile

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.