Breakwater Capital Group Sells 592 Shares of NIKE, Inc. (NYSE:NKE)

by · The Markets Daily

Breakwater Capital Group lowered its position in NIKE, Inc. (NYSE:NKE – Free Report) by 14.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,534 shares of the footwear maker’s stock after selling 592 shares during the period. Breakwater Capital Group’s holdings in NIKE were worth $267,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of NKE. State Street Corp grew its holdings in NIKE by 3.3% in the third quarter. State Street Corp now owns 57,916,789 shares of the footwear maker’s stock worth $5,140,796,000 after purchasing an additional 1,862,021 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of NIKE by 5.1% in the 3rd quarter. Wellington Management Group LLP now owns 27,442,145 shares of the footwear maker’s stock worth $2,425,886,000 after purchasing an additional 1,343,093 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of NIKE by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 25,029,380 shares of the footwear maker’s stock worth $2,204,451,000 after purchasing an additional 251,411 shares in the last quarter. Legal & General Group Plc grew its stake in NIKE by 5.5% during the 2nd quarter. Legal & General Group Plc now owns 11,049,294 shares of the footwear maker’s stock worth $832,785,000 after buying an additional 571,544 shares during the last quarter. Finally, Fisher Asset Management LLC increased its position in NIKE by 6.0% during the 3rd quarter. Fisher Asset Management LLC now owns 10,303,182 shares of the footwear maker’s stock valued at $910,801,000 after buying an additional 583,207 shares in the last quarter. Institutional investors own 64.25% of the company’s stock.

Insider Buying and Selling

In other news, Director John W. Rogers, Jr. bought 2,500 shares of the firm’s stock in a transaction dated Friday, December 27th. The shares were acquired at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the transaction, the director now directly owns 34,403 shares in the company, valued at $2,636,989.95. The trade was a 7.84 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.10% of the stock is currently owned by insiders.

NIKE Stock Down 1.4 %

Shares of NKE opened at $71.09 on Wednesday. The firm has a market cap of $105.15 billion, a P/E ratio of 20.37, a PEG ratio of 1.89 and a beta of 1.02. NIKE, Inc. has a 12 month low of $70.53 and a 12 month high of $107.43. The stock’s 50 day moving average is $76.05 and its two-hundred day moving average is $78.06. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE – Get Free Report) last issued its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, topping the consensus estimate of $0.63 by $0.15. The company had revenue of $12.35 billion during the quarter, compared to analyst estimates of $12.11 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The firm’s revenue was down 7.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.03 EPS. Analysts predict that NIKE, Inc. will post 2.72 earnings per share for the current fiscal year.

NIKE Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were paid a $0.40 dividend. The ex-dividend date was Monday, December 2nd. This is a positive change from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 dividend on an annualized basis and a yield of 2.25%. NIKE’s dividend payout ratio (DPR) is currently 49.38%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on NKE shares. Morgan Stanley lowered their price target on NIKE from $80.00 to $74.00 and set an “equal weight” rating for the company in a report on Friday, December 20th. Stifel Nicolaus lowered their target price on shares of NIKE from $79.00 to $75.00 and set a “hold” rating for the company in a research note on Friday, December 20th. Truist Financial cut their price target on shares of NIKE from $97.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. DA Davidson upgraded shares of NIKE to a “strong-buy” rating in a research note on Monday, December 23rd. Finally, Wells Fargo & Company dropped their price objective on shares of NIKE from $95.00 to $92.00 and set an “overweight” rating on the stock in a report on Monday, December 16th. Fourteen investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $89.96.

Read Our Latest Stock Report on NIKE

NIKE Company Profile

(Free Report)

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.

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