NIKE, Inc. $NKE Shares Sold by Truist Financial Corp

Truist Financial Corp reduced its position in NIKE, Inc. (NYSE:NKE) by 5.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 356,632 shares of the footwear maker’s stock after selling 20,453 shares during the period. Truist Financial Corp’s holdings in NIKE were worth $24,868,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. Pines Wealth Management LLC increased its holdings in NIKE by 3.5% in the third quarter. Pines Wealth Management LLC now owns 7,146 shares of the footwear maker’s stock valued at $498,000 after buying an additional 240 shares in the last quarter. J. Safra Sarasin Holding AG grew its position in shares of NIKE by 13.7% during the 3rd quarter. J. Safra Sarasin Holding AG now owns 9,379 shares of the footwear maker’s stock valued at $654,000 after acquiring an additional 1,130 shares during the period. Phoenix Financial Ltd. grew its position in shares of NIKE by 11.7% during the 3rd quarter. Phoenix Financial Ltd. now owns 88,233 shares of the footwear maker’s stock valued at $6,159,000 after acquiring an additional 9,212 shares during the period. Paragon Private Wealth Management LLC purchased a new position in shares of NIKE in the 3rd quarter valued at about $569,000. Finally, Kornitzer Capital Management Inc. KS raised its holdings in NIKE by 1.7% in the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 27,184 shares of the footwear maker’s stock worth $1,896,000 after purchasing an additional 460 shares during the period. 64.25% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Jorgen Vig Knudstorp bought 16,150 shares of the firm’s stock in a transaction on Friday, November 7th. The shares were bought at an average cost of $62.09 per share, for a total transaction of $1,002,753.50. Following the acquisition, the director directly owned 21,388 shares of the company’s stock, valued at $1,327,980.92. This trade represents a 308.32% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Robert Holmes Swan purchased 8,691 shares of the company’s stock in a transaction dated Monday, December 22nd. The stock was purchased at an average cost of $57.54 per share, with a total value of $500,080.14. Following the purchase, the director owned 43,293 shares in the company, valued at approximately $2,491,079.22. This trade represents a 25.12% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders bought 91,229 shares of company stock worth $5,452,640 over the last quarter. Corporate insiders own 0.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. KeyCorp cut their price objective on NIKE from $90.00 to $75.00 and set an “overweight” rating for the company in a research report on Thursday, January 22nd. Oppenheimer reissued an “outperform” rating on shares of NIKE in a report on Wednesday, December 17th. Piper Sandler set a $75.00 price objective on shares of NIKE and gave the company an “overweight” rating in a report on Friday, December 19th. The Goldman Sachs Group set a $77.00 target price on shares of NIKE in a research report on Friday, December 19th. Finally, Deutsche Bank Aktiengesellschaft set a $67.00 price target on shares of NIKE in a research report on Thursday, January 8th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $74.65.

NIKE Stock Performance

NKE opened at $61.84 on Friday. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $82.44. The firm has a market capitalization of $91.55 billion, a PE ratio of 36.38, a PEG ratio of 3.20 and a beta of 1.28. The company has a current ratio of 2.06, a quick ratio of 1.40 and a debt-to-equity ratio of 0.50. The firm’s 50-day moving average price is $63.96 and its 200 day moving average price is $68.69.

NIKE (NYSE:NKE) last released its earnings results on Thursday, December 18th. The footwear maker reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.16. The business had revenue of $12.43 billion for the quarter, compared to analyst estimates of $12.19 billion. NIKE had a net margin of 5.43% and a return on equity of 18.43%. The business’s revenue was up .6% on a year-over-year basis. During the same period last year, the company posted $0.78 EPS. As a group, sell-side analysts expect that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 2nd. Shareholders of record on Monday, December 1st were paid a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 2.7%. This is an increase from NIKE’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Monday, December 1st. NIKE’s dividend payout ratio is presently 96.47%.

NIKE Company Profile

Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).