Bank Pictet & Cie Europe AG Sells 3,627 Shares of NIKE, Inc. $NKE

Key Points

• Bank Pictet & Cie Europe AG has reduced its stake in NIKE, Inc. by 2.2%, selling 3,627 shares, and now holds a total of 163,320 shares valued at approximately $11.6 million.
• Significant stake increases by other institutional investors include a 344.2% increase in holdings by Goldman Sachs, bringing their total to over 26.6 million shares worth nearly $1.7 billion.
• NIKE's recent earnings reports indicate a revenue decline of 11.9% year-over-year, alongside a quarterly earnings per share of $0.14, exceeding analyst expectations.

Bank Pictet & Cie Europe AG trimmed its position in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 2.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 163,320 shares of the footwear maker's stock after selling 3,627 shares during the quarter. Bank Pictet & Cie Europe AG's holdings in NIKE were worth $11,602,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in NKE. Goldman Sachs Group Inc. raised its holdings in shares of NIKE by 344.2% during the first quarter. Goldman Sachs Group Inc. now owns 26,698,835 shares of the footwear maker's stock worth $1,694,842,000 after acquiring an additional 20,688,013 shares during the period. Wellington Management Group LLP raised its holdings in shares of NIKE by 24.9% during the first quarter. Wellington Management Group LLP now owns 45,383,916 shares of the footwear maker's stock worth $2,880,971,000 after acquiring an additional 9,043,180 shares during the period. Jennison Associates LLC acquired a new stake in shares of NIKE during the first quarter worth $509,051,000. Nuveen LLC acquired a new stake in shares of NIKE during the first quarter worth $502,285,000. Finally, Vanguard Group Inc. raised its holdings in shares of NIKE by 4.6% during the first quarter. Vanguard Group Inc. now owns 113,151,080 shares of the footwear maker's stock worth $7,182,831,000 after acquiring an additional 4,957,494 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 news, Chairman Mark G. Parker sold 110,000 shares of the business's stock in a transaction dated 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 transaction, the chairman directly owned 842,361 shares in the company, valued at $60,894,276.69. The trade was a 11.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.80% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages recently commented on NKE. Piper Sandler raised their price objective on shares of NIKE from $70.00 to $80.00 and gave the stock an "overweight" rating in a report on Friday, June 27th. Needham & Company LLC raised their price objective on shares of NIKE from $66.00 to $78.00 and gave the stock a "buy" rating in a report on Friday, June 27th. DZ Bank lowered shares of NIKE from a "buy" rating to a "hold" rating and set a $76.00 price objective on the stock. in a report on Thursday, July 10th. Jefferies Financial Group reaffirmed a "buy" rating and issued a $115.00 target price on shares of NIKE in a research report on Friday, August 22nd. Finally, Royal Bank Of Canada upgraded shares of NIKE from a "sector perform" rating to an "outperform" rating and lifted their price target for the company from $76.00 to $90.00 in a research note on Thursday, September 18th. Three research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and ten have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $79.46.

NIKE Stock Down 2.7%

NIKE stock opened at $69.32 on Friday. The firm has a market capitalization of $102.38 billion, a PE ratio of 32.09, a P/E/G ratio of 2.59 and a beta of 1.24. The company's 50-day moving average is $75.05 and its 200-day moving average is $67.38. NIKE, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $90.62. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.21 and a quick ratio of 1.50.

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

NIKE Dividend Announcement

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

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.

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