Cibc World Market Inc. Sells 102,580 Shares of NIKE, Inc. $NKE

Cibc World Market Inc. lessened its holdings in NIKE, Inc. (NYSE:NKE) by 16.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 506,497 shares of the footwear maker’s stock after selling 102,580 shares during the quarter. Cibc World Market Inc.’s holdings in NIKE were worth $35,318,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in NKE. Brighton Jones LLC increased its holdings in NIKE by 388.5% in the fourth quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker’s stock valued at $15,316,000 after purchasing an additional 160,980 shares during the period. Caxton Associates LLP acquired a new stake in shares of NIKE in the first quarter valued at about $311,000. MGO One Seven LLC increased its stake in shares of NIKE by 10.1% in the second quarter. MGO One Seven LLC now owns 26,234 shares of the footwear maker’s stock valued at $1,864,000 after buying an additional 2,409 shares during the period. Envestnet Portfolio Solutions Inc. raised its position in shares of NIKE by 12.0% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 78,113 shares of the footwear maker’s stock worth $5,549,000 after acquiring an additional 8,386 shares during the last quarter. Finally, RFG Advisory LLC lifted its stake in shares of NIKE by 5.6% in the second quarter. RFG Advisory LLC now owns 10,292 shares of the footwear maker’s stock worth $731,000 after acquiring an additional 546 shares during the period. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at NIKE

In other NIKE news, Director Robert Holmes Swan purchased 8,691 shares of the company’s stock in a transaction that occurred on Monday, December 22nd. The shares were acquired at an average price of $57.54 per share, with a total value of $500,080.14. Following the transaction, the director owned 43,293 shares in the company, valued at $2,491,079.22. The trade was a 25.12% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Elliott Hill acquired 16,388 shares of the firm’s stock in a transaction on Monday, December 29th. The shares were bought at an average cost of $61.10 per share, with a total value of $1,001,306.80. Following the completion of the acquisition, the chief executive officer directly owned 241,587 shares in the company, valued at approximately $14,760,965.70. This represents a 7.28% increase in their position. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders have purchased 75,079 shares of company stock worth $4,449,887. 0.80% of the stock is currently owned by insiders.

NIKE Trading Down 1.1%

NYSE NKE opened at $62.37 on Thursday. The company has a quick ratio of 1.40, a current ratio of 2.06 and a debt-to-equity ratio of 0.50. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $82.44. The business has a 50 day moving average price of $63.69 and a 200-day moving average price of $68.01. The company has a market cap of $92.33 billion, a price-to-earnings ratio of 36.69, a P/E/G ratio of 3.23 and a beta of 1.27.

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, beating the consensus estimate of $0.37 by $0.16. The business had revenue of $12.43 billion during the quarter, compared to the consensus estimate of $12.19 billion. NIKE had a net margin of 5.43% and a return on equity of 18.43%. NIKE’s revenue was up .6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.78 EPS. As a group, equities analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Stockholders of record on Monday, December 1st were given a dividend of $0.41 per share. The ex-dividend date of this dividend was Monday, December 1st. This is a boost from NIKE’s previous quarterly dividend of $0.40. This represents a $1.64 annualized dividend and a dividend yield of 2.6%. NIKE’s payout ratio is presently 96.47%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on NKE shares. DZ Bank reissued a “buy” rating on shares of NIKE in a research report on Friday, December 19th. Stifel Nicolaus set a $65.00 price objective on shares of NIKE and gave the company a “hold” rating in a research note on Friday, December 19th. Berenberg Bank reiterated a “neutral” rating and set a $70.00 price objective on shares of NIKE in a research report on Friday, December 19th. Truist Financial set a $69.00 target price on shares of NIKE in a report on Wednesday, January 14th. Finally, BTIG Research reaffirmed a “buy” rating and set a $100.00 price target on shares of NIKE in a research report on Tuesday, January 27th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, NIKE has a consensus rating of “Moderate Buy” and a consensus target price of $74.61.

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).