NIKE, Inc. $NKE Shares Sold by APG Asset Management N.V.

Key Points

• APG Asset Management N.V. reduced its stake in NIKE, Inc. by 1.5%, holding a total of 649,200 shares valued at approximately $38.15 million following the sale of 9,900 shares.
• NIKE's Chairman, Mark G. Parker, sold 110,000 shares of the company for about $7.95 million, resulting in an 11.55% decrease in his ownership of the stock.
• NIKE recently declared a quarterly dividend of $0.40, with an annualized yield of 2.0%, and has a payout ratio of 74.07%.

APG Asset Management N.V. decreased its position in NIKE, Inc. (NYSE:NKE - Free Report) by 1.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 649,200 shares of the footwear maker's stock after selling 9,900 shares during the quarter. APG Asset Management N.V.'s holdings in NIKE were worth $38,151,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Spire Wealth Management grew its position in NIKE by 4.4% in the first quarter. Spire Wealth Management now owns 9,872 shares of the footwear maker's stock valued at $627,000 after acquiring an additional 416 shares in the last quarter. Capitolis Liquid Global Markets LLC grew its position in NIKE by 40.9% in the fourth quarter. Capitolis Liquid Global Markets LLC now owns 310,000 shares of the footwear maker's stock valued at $23,458,000 after acquiring an additional 90,000 shares in the last quarter. Janus Henderson Group PLC grew its position in NIKE by 8.3% in the fourth quarter. Janus Henderson Group PLC now owns 6,081,021 shares of the footwear maker's stock valued at $460,160,000 after acquiring an additional 463,470 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich grew its position in NIKE by 0.6% in the first quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,008,340 shares of the footwear maker's stock valued at $69,932,000 after acquiring an additional 5,601 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp grew its position in NIKE by 20.2% in the fourth quarter. OMERS ADMINISTRATION Corp now owns 52,370 shares of the footwear maker's stock valued at $3,963,000 after acquiring an additional 8,792 shares in the last quarter. Institutional investors and hedge funds own 64.25% of the company's stock.

NIKE Price Performance

Shares of NIKE stock traded down $0.45 on Wednesday, reaching $78.20. The company's stock had a trading volume of 12,633,901 shares, compared to its average volume of 16,515,779. The company has a market capitalization of $115.50 billion, a P/E ratio of 36.20, a PEG ratio of 2.88 and a beta of 1.27. NIKE, Inc. has a 52-week low of $52.28 and a 52-week high of $90.62. The stock has a 50-day moving average price of $73.23 and a 200-day moving average price of $67.77. The company has a quick ratio of 1.50, a current ratio of 2.21 and a debt-to-equity ratio of 0.60.

NIKE (NYSE:NKE - Get Free Report) last posted its quarterly earnings data on Thursday, June 26th. The footwear maker reported $0.14 EPS for the quarter, beating analysts' consensus estimates of $0.12 by $0.02. The business had revenue of $11.10 billion during the quarter, compared to analysts' expectations of $10.69 billion. NIKE had a return on equity of 23.33% and a net margin of 6.95%.The business's revenue was down 11.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.99 earnings per share. Analysts expect that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd will be given a $0.40 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.0%. NIKE's payout ratio is 74.07%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Piper Sandler increased their price objective on shares of NIKE from $70.00 to $80.00 and gave the company an "overweight" rating in a research report on Friday, June 27th. Truist Financial decreased their price target on shares of NIKE from $82.00 to $73.00 and set a "buy" rating for the company in a research report on Tuesday, June 24th. Wells Fargo & Company raised their price target on shares of NIKE from $55.00 to $60.00 and gave the stock an "equal weight" rating in a research report on Wednesday, May 14th. Royal Bank Of Canada decreased their price target on shares of NIKE from $66.00 to $65.00 and set a "sector perform" rating for the company in a research report on Tuesday, May 20th. Finally, Jefferies Financial Group reissued a "buy" rating and set a $115.00 price target on shares of NIKE in a research report on Friday, August 22nd. Three analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and twelve have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $78.22.

Insider Activity at NIKE

In other news, Chairman Mark G. Parker sold 86,078 shares of the business's stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $75.93, for a total value of $6,535,902.54. Following the completion of the sale, the chairman directly owned 744,988 shares in the company, valued at $56,566,938.84. The trade was a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.80% of the stock is owned by company insiders.

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.