Saybrook Capital NC Sells 12,110 Shares of NIKE, Inc. (NYSE:NKE)

Saybrook Capital NC reduced its stake in shares of NIKE, Inc. (NYSE:NKE) by 6.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 174,310 shares of the footwear maker’s stock after selling 12,110 shares during the quarter. NIKE accounts for approximately 5.3% of Saybrook Capital NC’s portfolio, making the stock its 6th largest holding. Saybrook Capital NC’s holdings in NIKE were worth $18,925,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Impact Partnership Wealth LLC lifted its holdings in shares of NIKE by 220.7% in the third quarter. Impact Partnership Wealth LLC now owns 263 shares of the footwear maker’s stock valued at $25,000 after purchasing an additional 181 shares in the last quarter. Iron Horse Wealth Management LLC lifted its holdings in shares of NIKE by 120.7% in the fourth quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock valued at $28,000 after purchasing an additional 140 shares in the last quarter. Planned Solutions Inc. purchased a new stake in shares of NIKE in the fourth quarter valued at about $29,000. Financial Freedom LLC purchased a new stake in shares of NIKE in the fourth quarter valued at about $29,000. Finally, Worth Asset Management LLC purchased a new stake in shares of NIKE in the first quarter valued at about $32,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NKE has been the topic of several recent analyst reports. Telsey Advisory Group reduced their price objective on shares of NIKE from $140.00 to $120.00 and set an “outperform” rating on the stock in a research note on Monday, March 18th. TD Cowen reissued a “market perform” rating and set a $104.00 price objective (down previously from $129.00) on shares of NIKE in a research note on Friday, December 22nd. Piper Sandler reduced their price objective on shares of NIKE from $107.00 to $98.00 and set a “neutral” rating on the stock in a research note on Friday, March 22nd. The Goldman Sachs Group reduced their price objective on shares of NIKE from $135.00 to $120.00 and set a “buy” rating on the stock in a research note on Friday, March 22nd. Finally, Bank of America raised shares of NIKE from a “neutral” rating to a “buy” rating and upped their price objective for the company from $110.00 to $113.00 in a research note on Thursday, April 11th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $116.26.

NIKE Price Performance

Shares of NKE traded up $0.19 during mid-day trading on Tuesday, hitting $93.29. The company’s stock had a trading volume of 2,505,849 shares, compared to its average volume of 9,461,733. The firm has a 50-day moving average price of $98.83 and a 200 day moving average price of $103.49. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.74 and a quick ratio of 1.89. NIKE, Inc. has a fifty-two week low of $88.66 and a fifty-two week high of $128.68. The stock has a market capitalization of $140.81 billion, a price-to-earnings ratio of 27.34, a PEG ratio of 1.79 and a beta of 1.09.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Thursday, March 21st. The footwear maker reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.29. NIKE had a net margin of 10.14% and a return on equity of 39.41%. The business had revenue of $12.43 billion during the quarter, compared to analysts’ expectations of $12.28 billion. On average, research analysts predict that NIKE, Inc. will post 3.7 EPS for the current fiscal year.

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 4th were given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date of this dividend was Friday, March 1st. NIKE’s dividend payout ratio (DPR) is currently 43.53%.

NIKE Profile

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.