NIKE, Inc. (NYSE:NKE) Shares Sold by Beacon Pointe Advisors LLC

Beacon Pointe Advisors LLC decreased its holdings in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 26.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 105,233 shares of the footwear maker's stock after selling 37,241 shares during the period. Beacon Pointe Advisors LLC's holdings in NIKE were worth $7,963,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Heck Capital Advisors LLC bought a new stake in shares of NIKE during the 4th quarter valued at $28,000. 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 worth $28,000 after buying an additional 200 shares during the period. Roxbury Financial LLC bought a new position in NIKE in the 4th quarter worth $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 worth $30,000 after buying an additional 210 shares during the period. Finally, Hopwood Financial Services Inc. bought a new position in NIKE in the 4th quarter worth $30,000. Institutional investors own 64.25% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on NKE. Jefferies Financial Group raised shares of NIKE from a "hold" rating to a "buy" rating and upped their target price for the stock from $75.00 to $115.00 in a report on Monday, February 24th. China Renaissance began coverage on shares of NIKE in a report on Wednesday, March 19th. They issued a "hold" rating for the company. Morgan Stanley dropped their target price on shares of NIKE from $72.00 to $70.00 and set an "equal weight" rating for the company in a report on Friday, March 21st. Williams Trading cut their price objective on NIKE from $93.00 to $73.00 and set a "buy" rating for the company in a research report on Monday, April 21st. Finally, Piper Sandler decreased their target price on NIKE from $90.00 to $70.00 and set an "overweight" rating on the stock in a research report on Friday, April 11th. Seventeen analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, NIKE has an average rating of "Moderate Buy" and an average target price of $81.15.

Insider Transactions at NIKE

In related news, Chairman Mark G. Parker sold 169,732 shares of the company's stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the transaction, the chairman now directly owns 896,632 shares of the company's stock, valued at $65,301,708.56. This represents a 15.92 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Robert Holmes Swan bought 8,600 shares of NIKE stock in a transaction that occurred on Friday, April 4th. The shares were acquired at an average cost of $58.46 per share, for a total transaction of $502,756.00. Following the completion of the transaction, the director now directly owns 31,983 shares in the company, valued at $1,869,726.18. This represents a 36.78 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 1.10% of the company's stock.

NIKE Stock Up 0.7 %

NYSE NKE traded up $0.40 on Thursday, reaching $56.80. 10,507,319 shares of the stock traded hands, compared to its average volume of 14,499,718. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. The company has a fifty day moving average price of $65.57 and a 200-day moving average price of $72.49. The company has a market cap of $84.01 billion, a price-to-earnings ratio of 17.53, a PEG ratio of 2.52 and a beta of 1.15. NIKE, Inc. has a 12 month low of $52.28 and a 12 month high of $98.04.

NIKE (NYSE:NKE - Get Free Report) last issued its 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 business had revenue of $11.27 billion during the quarter, compared to analyst estimates of $11.02 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. NIKE's revenue was down 9.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.98 EPS. As a group, research analysts forecast that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The business also recently declared 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 2.82%. NIKE's payout ratio is 53.16%.

NIKE 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.