WT Asset Management Ltd Reduces Stock Holdings in NIKE, Inc. $NKE

WT Asset Management Ltd lessened its holdings in NIKE, Inc. (NYSE:NKE) by 90.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,000 shares of the footwear maker’s stock after selling 334,300 shares during the quarter. WT Asset Management Ltd’s holdings in NIKE were worth $2,441,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Main Street Financial Solutions LLC grew its position in shares of NIKE by 4.2% during the 2nd quarter. Main Street Financial Solutions LLC now owns 3,441 shares of the footwear maker’s stock valued at $244,000 after buying an additional 139 shares during the last quarter. St. Clair Advisors LLC boosted its stake in NIKE by 0.9% in the third quarter. St. Clair Advisors LLC now owns 15,217 shares of the footwear maker’s stock valued at $1,061,000 after acquiring an additional 140 shares during the period. Spirepoint Private Client LLC grew its holdings in shares of 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. Evelyn Partners Investment Management Europe Ltd raised its position in shares of NIKE by 18.5% during the 2nd quarter. Evelyn Partners Investment Management Europe Ltd now owns 997 shares of the footwear maker’s stock worth $71,000 after purchasing an additional 156 shares during the period. Finally, CVA Family Office LLC lifted its holdings in shares of NIKE by 8.0% in the 3rd quarter. CVA Family Office LLC now owns 2,113 shares of the footwear maker’s stock worth $147,000 after purchasing an additional 156 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors.

NIKE Price Performance

NYSE:NKE traded up $1.23 during midday trading on Friday, hitting $66.84. 1,501,552 shares of the stock were exchanged, compared to its average volume of 14,926,644. The company has a market capitalization of $98.94 billion, a price-to-earnings ratio of 39.21, a P/E/G ratio of 3.36 and a beta of 1.27. The company has a current ratio of 2.06, a quick ratio of 1.40 and a debt-to-equity ratio of 0.50. NIKE, Inc. has a one year low of $52.28 and a one year high of $82.44. The business has a 50-day moving average price of $63.51 and a two-hundred day moving average price of $67.54.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, December 18th. The footwear maker reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.16. NIKE had a return on equity of 18.43% and a net margin of 5.43%.The company had revenue of $12.43 billion for the quarter, compared to the consensus estimate of $12.19 billion. During the same quarter in the previous year, the business earned $0.78 EPS. The company’s quarterly revenue was up .6% compared to the same quarter last year. Sell-side analysts predict that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Monday, March 2nd will be paid a $0.41 dividend. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $1.64 annualized dividend and a dividend yield of 2.5%. NIKE’s payout ratio is currently 96.47%.

Insider Buying and Selling

In related news, Director Timothy D. Cook purchased 50,000 shares of the company’s stock in a transaction on Monday, December 22nd. The shares were bought at an average price of $58.97 per share, with a total value of $2,948,500.00. Following the completion of the acquisition, the director owned 105,480 shares of the company’s stock, valued at approximately $6,220,155.60. This represents a 90.12% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Robert Holmes Swan acquired 8,691 shares of the business’s stock in a transaction dated Monday, December 22nd. The shares were bought at an average price of $57.54 per share, with a total value of $500,080.14. Following the transaction, the director directly owned 43,293 shares in the company, valued at approximately $2,491,079.22. The trade was a 25.12% increase in their position. The SEC filing for this purchase provides additional information. Insiders have acquired 75,079 shares of company stock worth $4,449,887 in the last ninety days. 0.80% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. The Goldman Sachs Group lowered their price objective on NIKE from $77.00 to $76.00 and set a “buy” rating for the company in a research note on Thursday, January 29th. Argus reduced their price target on shares of NIKE from $85.00 to $70.00 in a report on Tuesday, December 23rd. Berenberg Bank reaffirmed a “neutral” rating and issued a $70.00 price objective on shares of NIKE in a report on Friday, December 19th. Piper Sandler set a $75.00 target price on shares of NIKE and gave the company an “overweight” rating in a research note on Friday, December 19th. Finally, Telsey Advisory Group decreased their target price on shares of NIKE from $75.00 to $72.00 and set a “market perform” rating for the company in a research report on Friday, December 19th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $74.61.

NIKE 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).