Assenagon Asset Management S.A. Has $45.91 Million Stake in NIKE, Inc. $NKE

Key Points

• Assenagon Asset Management S.A. reduced its stake in NIKE, Inc. by 51.1% during the second quarter, owning 646,183 shares worth approximately $45.91 million after selling over 674,000 shares.
• NIKE recently reported a quarterly earnings per share of $0.14, exceeding analysts' expectations, despite a year-over-year revenue decline of 11.9% to $11.10 billion.
• The company will pay a quarterly dividend of $0.40 per share starting October 1st, representing an annualized yield of 2.3% with a payout ratio of 74.07%.

Assenagon Asset Management S.A. trimmed its holdings in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 51.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 646,183 shares of the footwear maker's stock after selling 674,553 shares during the period. Assenagon Asset Management S.A.'s holdings in NIKE were worth $45,905,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NKE. Kingstone Capital Partners Texas LLC acquired a new stake in shares of NIKE in the 2nd quarter valued at $96,106,000. IFM Investors Pty Ltd increased its stake in shares of NIKE by 3.4% in the 2nd quarter. IFM Investors Pty Ltd now owns 224,314 shares of the footwear maker's stock valued at $15,935,000 after buying an additional 7,315 shares during the period. Canoe Financial LP increased its stake in shares of NIKE by 4.8% in the 2nd quarter. Canoe Financial LP now owns 110,820 shares of the footwear maker's stock valued at $7,873,000 after buying an additional 5,100 shares during the period. Oliver Lagore Vanvalin Investment Group acquired a new stake in shares of NIKE in the 2nd quarter valued at $194,000. Finally, CWC Advisors LLC. increased its stake in shares of NIKE by 3.9% in the 2nd quarter. CWC Advisors LLC. now owns 22,859 shares of the footwear maker's stock valued at $1,624,000 after buying an additional 856 shares during the period. 64.25% of the stock is owned by institutional investors and hedge funds.

NIKE Stock Down 1.7%

Shares of NKE opened at $70.88 on Friday. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $90.62. The stock has a market capitalization of $104.68 billion, a price-to-earnings ratio of 32.81, a PEG ratio of 2.57 and a beta of 1.24. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.50 and a current ratio of 2.21. The stock has a fifty day moving average of $75.19 and a 200-day moving average of $67.50.

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

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.3%. NIKE's dividend payout ratio (DPR) is currently 74.07%.

Analyst Upgrades and Downgrades

NKE has been the subject of a number of analyst reports. Piper Sandler lifted their price objective on NIKE from $70.00 to $80.00 and gave the stock an "overweight" rating in a research note on Friday, June 27th. Zacks Research raised NIKE from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 26th. Truist Financial decreased their price objective on NIKE from $82.00 to $73.00 and set a "buy" rating for the company in a research note on Tuesday, June 24th. Needham & Company LLC lifted their price objective on NIKE from $66.00 to $78.00 and gave the stock a "buy" rating in a research note on Friday, June 27th. Finally, UBS Group set a $71.00 price objective on NIKE and gave the stock a "neutral" rating in a research note on Friday. Three investment analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $79.04.

Insider Activity at NIKE

In other news, Chairman Mark G. Parker sold 110,000 shares of the firm's stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $72.29, for a total transaction of $7,951,900.00. Following the completion of the sale, the chairman owned 842,361 shares in the company, valued at $60,894,276.69. This trade represents a 11.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.80% of the stock is currently owned by corporate insiders.

NIKE Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.