Perpetual Ltd Sells 7,599 Shares of NIKE, Inc. (NYSE:NKE)

Perpetual Ltd lessened its holdings in shares of NIKE, Inc. (NYSE:NKE) by 35.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,933 shares of the footwear maker’s stock after selling 7,599 shares during the period. Perpetual Ltd’s holdings in NIKE were worth $1,054,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Range Financial Group LLC bought a new position in NIKE in the 4th quarter valued at $642,000. Cacti Asset Management LLC bought a new position in shares of NIKE in the fourth quarter worth about $9,987,000. FNY Investment Advisers LLC increased its stake in NIKE by 5,745.9% in the 4th quarter. FNY Investment Advisers LLC now owns 8,652 shares of the footwear maker’s stock worth $654,000 after buying an additional 8,504 shares during the period. Eagle Rock Investment Company LLC lifted its holdings in NIKE by 49.2% during the 4th quarter. Eagle Rock Investment Company LLC now owns 60,642 shares of the footwear maker’s stock valued at $4,589,000 after buying an additional 19,991 shares in the last quarter. Finally, Mirador Capital Partners LP lifted its holdings in NIKE by 69.8% during the 4th quarter. Mirador Capital Partners LP now owns 72,986 shares of the footwear maker’s stock valued at $5,523,000 after buying an additional 30,011 shares in the last quarter. Institutional investors own 64.25% of the company’s stock.

Wall Street Analysts Forecast Growth

NKE has been the topic of a number of research reports. Jefferies Financial Group raised their target price on shares of NIKE from $80.00 to $85.00 and gave the stock a “hold” rating in a research report on Monday, September 30th. Stifel Nicolaus decreased their target price on NIKE from $79.00 to $75.00 and set a “hold” rating for the company in a research report on Friday, December 20th. Telsey Advisory Group downgraded NIKE from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $93.00 to $80.00 in a report on Friday, December 20th. Piper Sandler upgraded shares of NIKE from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $72.00 to $90.00 in a report on Friday, January 10th. Finally, JPMorgan Chase & Co. reduced their price target on shares of NIKE from $77.00 to $73.00 and set a “neutral” rating for the company in a report on Monday, December 2nd. Fourteen analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, NIKE has an average rating of “Moderate Buy” and a consensus target price of $89.96.

NIKE Stock Performance

Shares of NKE opened at $74.07 on Thursday. The stock has a 50-day moving average of $75.59 and a two-hundred day moving average of $77.91. 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 stock has a market cap of $109.56 billion, a P/E ratio of 22.86, a P/E/G ratio of 2.25 and a beta of 1.02. NIKE, Inc. has a one year low of $70.32 and a one year high of $107.43.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, beating the consensus estimate of $0.63 by $0.15. The business had revenue of $12.35 billion during the quarter, compared to analysts’ expectations of $12.11 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The business’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.03 EPS. As a group, research analysts predict that NIKE, Inc. will post 2.1 EPS for the current year.

NIKE Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.16%. This is a positive change from NIKE’s previous quarterly dividend of $0.37. NIKE’s dividend payout ratio (DPR) is presently 49.38%.

Insider Activity

In related news, Director John W. Rogers, Jr. purchased 2,500 shares of NIKE stock in a transaction that occurred on Friday, December 27th. The stock was bought at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the transaction, the director now owns 34,403 shares in the company, valued at $2,636,989.95. The trade was a 7.84 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 1.10% of the company’s stock.

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.