Banque de Luxembourg S.A. Invests $1.60 Million in NIKE, Inc. (NYSE:NKE)

Banque de Luxembourg S.A. bought a new position in shares of NIKE, Inc. (NYSE:NKE - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 21,071 shares of the footwear maker's stock, valued at approximately $1,601,000. NIKE comprises 0.8% of Banque de Luxembourg S.A.'s holdings, making the stock its 21st largest holding.

Several other large investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its position in NIKE by 32.4% during the 4th quarter. Wellington Management Group LLP now owns 36,340,736 shares of the footwear maker's stock valued at $2,749,903,000 after purchasing an additional 8,898,591 shares during the period. Geode Capital Management LLC lifted its holdings in shares of NIKE by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 25,376,558 shares of the footwear maker's stock valued at $1,915,110,000 after buying an additional 347,178 shares during the period. Capital World Investors raised its holdings in shares of NIKE by 10.3% in the 4th quarter. Capital World Investors now owns 24,545,937 shares of the footwear maker's stock worth $1,857,389,000 after purchasing an additional 2,288,627 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of NIKE by 18.1% during the 4th quarter. Bank of New York Mellon Corp now owns 20,367,993 shares of the footwear maker's stock valued at $1,541,246,000 after acquiring an additional 3,121,929 shares during the last quarter. Finally, Norges Bank purchased a new position in NIKE in the 4th quarter worth about $1,126,288,000. 64.25% of the stock is currently owned by institutional investors.

Insider Buying and Selling at NIKE

In related news, Chairman Mark G. Parker sold 169,732 shares of the stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $72.83, for a total value of $12,361,581.56. Following the completion of the sale, the chairman now owns 896,632 shares in the company, valued at approximately $65,301,708.56. This trade represents a 15.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert Holmes Swan purchased 8,600 shares of the stock in a transaction that occurred on Friday, April 4th. The shares were purchased at an average price of $58.46 per share, for a total transaction of $502,756.00. Following the completion of the purchase, the director now directly owns 31,983 shares of the company's stock, valued at approximately $1,869,726.18. This trade represents a 36.78 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.10% of the company's stock.

NIKE Stock Performance

Shares of NYSE:NKE traded down $0.20 during midday trading on Tuesday, hitting $57.15. The company's stock had a trading volume of 11,256,761 shares, compared to its average volume of 14,589,194. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. The stock's 50 day simple moving average is $63.70 and its 200 day simple moving average is $71.72. The stock has a market capitalization of $84.54 billion, a price-to-earnings ratio of 17.64, a PEG ratio of 2.52 and a beta of 1.23. NIKE, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $98.04.

NIKE (NYSE:NKE - Get Free Report) last released its earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.28 by $0.26. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The firm had revenue of $11.27 billion for the quarter, compared to analyst estimates of $11.02 billion. During the same quarter last year, the firm posted $0.98 EPS. The company's revenue was down 9.1% on a year-over-year basis. As a group, research analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.80%. The ex-dividend date is Monday, June 2nd. NIKE's payout ratio is currently 53.16%.

Analyst Ratings Changes

Several equities analysts have weighed in on NKE shares. Berenberg Bank assumed coverage on shares of NIKE in a research report on Tuesday, April 15th. They set a "hold" rating and a $58.00 price objective on the stock. Citigroup dropped their price target on NIKE from $72.00 to $57.00 and set a "neutral" rating on the stock in a research report on Monday, April 28th. Piper Sandler lowered their target price on NIKE from $90.00 to $70.00 and set an "overweight" rating on the stock in a research note on Friday, April 11th. Telsey Advisory Group lowered their price objective on shares of NIKE from $80.00 to $70.00 and set a "market perform" rating on the stock in a research report on Tuesday. Finally, China Renaissance began coverage on shares of NIKE in a research report on Wednesday, March 19th. They issued a "hold" rating for the company. Seventeen research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $80.48.

About NIKE

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.