Sanctuary Advisors LLC Sells 19,325 Shares of NIKE, Inc. $NKE

Sanctuary Advisors LLC decreased its holdings in shares of NIKE, Inc. (NYSE:NKE) by 14.1% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 118,123 shares of the footwear maker’s stock after selling 19,325 shares during the period. Sanctuary Advisors LLC’s holdings in NIKE were worth $7,526,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Guerra Advisors Inc purchased a new stake in shares of NIKE in the 3rd quarter valued at about $34,000. Gordian Capital Singapore Pte Ltd purchased a new position in shares of NIKE during the third quarter worth about $35,000. Accredited Wealth Management LLC increased its position in shares of NIKE by 268.6% in the third quarter. Accredited Wealth Management LLC now owns 516 shares of the footwear maker’s stock worth $36,000 after purchasing an additional 376 shares during the last quarter. Matrix Trust Co raised its stake in NIKE by 43.6% in the fourth quarter. Matrix Trust Co now owns 596 shares of the footwear maker’s stock valued at $38,000 after purchasing an additional 181 shares in the last quarter. Finally, Strive Asset Management LLC purchased a new stake in NIKE in the third quarter valued at approximately $40,000. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

NIKE Stock Down 0.3%

NYSE:NKE opened at $45.01 on Wednesday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.45 and a current ratio of 2.14. The firm has a market cap of $66.65 billion, a P/E ratio of 29.81, a P/E/G ratio of 2.39 and a beta of 1.31. NIKE, Inc. has a fifty-two week low of $42.09 and a fifty-two week high of $80.17. The firm has a 50-day simple moving average of $52.24 and a two-hundred day simple moving average of $59.97.

NIKE (NYSE:NKE) last issued its earnings results on Tuesday, March 31st. The footwear maker reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.06. The firm had revenue of $11.28 billion for the quarter, compared to the consensus estimate of $11.23 billion. NIKE had a net margin of 4.84% and a return on equity of 16.41%. The business’s revenue was up .1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.54 earnings per share. Analysts predict that NIKE, Inc. will post 1.52 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 1st. Shareholders of record on Monday, March 2nd were paid a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 3.6%. The ex-dividend date was Monday, March 2nd. NIKE’s dividend payout ratio (DPR) is currently 108.61%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Royal Bank Of Canada reissued a “buy” rating on shares of NIKE in a research note on Wednesday, April 1st. Piper Sandler reiterated a “neutral” rating and set a $50.00 price target (down from $60.00) on shares of NIKE in a report on Friday, April 10th. JPMorgan Chase & Co. reissued a “neutral” rating on shares of NIKE in a research note on Monday, April 13th. Evercore dropped their price target on NIKE from $69.00 to $57.00 and set an “outperform” rating for the company in a research note on Wednesday, April 1st. Finally, BNP Paribas Exane cut their price target on shares of NIKE from $35.00 to $23.00 and set an “underperform” rating on the stock in a report on Wednesday, April 1st. Seventeen investment analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, NIKE currently has an average rating of “Hold” and an average price target of $62.34.

Insiders Place Their Bets

In other NIKE news, Director John W. Rogers, Jr. bought 4,000 shares of NIKE stock in a transaction on Thursday, April 9th. The stock was acquired at an average price of $43.34 per share, with a total value of $173,360.00. Following the acquisition, the director owned 41,022 shares in the company, valued at approximately $1,777,893.48. This trade represents a 10.80% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Timothy D. Cook purchased 25,000 shares of the firm’s stock in a transaction dated Friday, April 10th. The stock was acquired at an average price of $42.43 per share, with a total value of $1,060,750.00. Following the purchase, the director directly owned 130,480 shares of the company’s stock, valued at approximately $5,536,266.40. The trade was a 23.70% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders have acquired 64,441 shares of company stock valued at $2,734,204. 0.80% of the stock is currently owned by company insiders.

About NIKE

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).