Bessemer Group Inc. Sells 33,600 Shares of NIKE, Inc. (NYSE:NKE)

Bessemer Group Inc. lowered its stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 4.3% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 740,828 shares of the footwear maker's stock after selling 33,600 shares during the period. Bessemer Group Inc. owned approximately 0.05% of NIKE worth $47,029,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Elgethun Capital Management boosted its position in shares of NIKE by 13.7% during the fourth quarter. Elgethun Capital Management now owns 1,236 shares of the footwear maker's stock valued at $94,000 after buying an additional 149 shares during the last quarter. AlTi Global Inc. boosted its holdings in NIKE by 0.4% during the 4th quarter. AlTi Global Inc. now owns 36,996 shares of the footwear maker's stock worth $2,813,000 after acquiring an additional 150 shares during the last quarter. Staley Capital Advisers Inc. boosted its holdings in NIKE by 4.4% during the 4th quarter. Staley Capital Advisers Inc. now owns 3,773 shares of the footwear maker's stock worth $286,000 after acquiring an additional 160 shares during the last quarter. Cohen & Steers Inc. grew its stake in shares of NIKE by 5.3% in the 4th quarter. Cohen & Steers Inc. now owns 3,171 shares of the footwear maker's stock worth $240,000 after acquiring an additional 160 shares in the last quarter. Finally, Nwam LLC raised its holdings in shares of NIKE by 2.9% in the fourth quarter. Nwam LLC now owns 6,318 shares of the footwear maker's stock valued at $478,000 after purchasing an additional 176 shares during the last quarter. 64.25% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Robert Holmes Swan acquired 8,600 shares of NIKE stock in a transaction that occurred on Friday, April 4th. The stock was bought at an average price of $58.46 per share, with a total value of $502,756.00. Following the completion of the purchase, the director now owns 31,983 shares in the company, valued at approximately $1,869,726.18. The trade was a 36.78% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 1.10% of the company's stock.

NIKE Stock Performance

NYSE:NKE opened at $60.84 on Thursday. The business's fifty day moving average is $60.17 and its 200 day moving average is $67.73. The firm has a market cap of $89.99 billion, a price-to-earnings ratio of 20.21, a PEG ratio of 2.21 and a beta of 1.21. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.52 and a current ratio of 2.19. NIKE, Inc. has a 52-week low of $52.28 and a 52-week high of $94.74.

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.63%. The ex-dividend date is Monday, June 2nd. NIKE's payout ratio is presently 53.16%.

Analyst Upgrades and Downgrades

NKE has been the topic of several analyst reports. Bank of America cut their price target on shares of NIKE from $90.00 to $80.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Dbs Bank upgraded NIKE from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 5th. The Goldman Sachs Group reduced their target price on NIKE from $88.00 to $72.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Berenberg Bank initiated coverage on NIKE in a report on Tuesday, April 15th. They set a "hold" rating and a $58.00 price target on the stock. Finally, Robert W. Baird cut their price objective on NIKE from $105.00 to $99.00 and set an "outperform" rating on the stock in a research report on Friday, March 21st. Sixteen analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, NIKE currently has an average rating of "Moderate Buy" and a consensus target price of $77.59.

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.

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