NIKE, Inc. $NKE Position Reduced by Audent Global Asset Management LLC

Audent Global Asset Management LLC trimmed its position in NIKE, Inc. (NYSE:NKE) by 62.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,144 shares of the footwear maker’s stock after selling 21,904 shares during the period. Audent Global Asset Management LLC’s holdings in NIKE were worth $922,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Mitchell Mcleod Pugh & Williams Inc. grew its holdings in NIKE by 1.0% during the second quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 14,176 shares of the footwear maker’s stock worth $1,007,000 after acquiring an additional 134 shares during the period. Main Street Financial Solutions LLC grew its stake in shares of NIKE by 4.2% in the 2nd quarter. Main Street Financial Solutions LLC now owns 3,441 shares of the footwear maker’s stock worth $244,000 after purchasing an additional 139 shares during the last quarter. St. Clair Advisors LLC grew its stake in shares of NIKE by 0.9% in the 3rd quarter. St. Clair Advisors LLC now owns 15,217 shares of the footwear maker’s stock worth $1,061,000 after purchasing an additional 140 shares during the last quarter. Salomon & Ludwin LLC raised its holdings in shares of NIKE by 10.1% in the 2nd quarter. Salomon & Ludwin LLC now owns 1,575 shares of the footwear maker’s stock worth $120,000 after purchasing an additional 145 shares in the last quarter. Finally, Spirepoint Private Client LLC lifted its stake in NIKE by 0.4% during the third quarter. Spirepoint Private Client LLC now owns 36,140 shares of the footwear maker’s stock valued at $2,520,000 after purchasing an additional 153 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at NIKE

In other news, CEO Elliott Hill bought 16,388 shares of the stock in a transaction on Monday, December 29th. The shares were purchased at an average price of $61.10 per share, for a total transaction of $1,001,306.80. Following the completion of the purchase, the chief executive officer directly owned 241,587 shares of the company’s stock, valued at $14,760,965.70. This trade represents a 7.28% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert Holmes Swan bought 8,691 shares of the company’s stock in a transaction on Monday, December 22nd. The stock was purchased at an average cost of $57.54 per share, for a total transaction of $500,080.14. Following the completion of the transaction, the director owned 43,293 shares in the company, valued at approximately $2,491,079.22. The trade was a 25.12% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders bought a total of 91,229 shares of company stock worth $5,452,640 over the last 90 days. 0.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Weiss Ratings upgraded shares of NIKE from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, January 12th. Guggenheim reissued a “buy” rating on shares of NIKE in a research note on Wednesday, December 31st. Truist Financial set a $69.00 target price on NIKE in a research report on Wednesday, January 14th. Jefferies Financial Group reiterated a “buy” rating and issued a $110.00 price target on shares of NIKE in a research report on Monday, January 12th. Finally, BTIG Research restated a “buy” rating and set a $100.00 price objective on shares of NIKE in a report on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, NIKE has an average rating of “Moderate Buy” and an average target price of $74.65.

NIKE Trading Down 1.2%

NYSE:NKE opened at $61.84 on Friday. The stock has a market cap of $91.55 billion, a PE ratio of 36.38, a price-to-earnings-growth ratio of 3.20 and a beta of 1.28. NIKE, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $82.44. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.06 and a quick ratio of 1.40. The stock’s 50-day moving average is $63.96 and its two-hundred day moving average is $68.69.

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

NIKE Increases Dividend

The business also recently announced 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 is an increase from NIKE’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Monday, December 1st. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.7%. NIKE’s dividend payout ratio (DPR) is 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).