BI Asset Management Fondsmaeglerselskab A S Has $2.56 Million Holdings in NIKE, Inc. $NKE

Key Points

• BI Asset Management Fondsmaeglerselskab A S reduced its stake in NIKE, Inc. by 9.3%, now holding shares valued at $2.56 million.
• Goldman Sachs Group Inc. significantly increased its NIKE holdings by 344.2% during the first quarter, acquiring over 20 million additional shares.
• NIKE recently posted a quarterly EPS of $0.14, exceeding analyst expectations and revealing a year-over-year revenue decline of 11.9%.

BI Asset Management Fondsmaeglerselskab A S lessened its stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 9.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 40,257 shares of the footwear maker's stock after selling 4,130 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in NIKE were worth $2,556,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the stock. Goldman Sachs Group Inc. grew its holdings in NIKE by 344.2% during the first quarter. Goldman Sachs Group Inc. now owns 26,698,835 shares of the footwear maker's stock valued at $1,694,842,000 after purchasing an additional 20,688,013 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of NIKE by 24.9% during the 1st quarter. Wellington Management Group LLP now owns 45,383,916 shares of the footwear maker's stock worth $2,880,971,000 after buying an additional 9,043,180 shares during the period. Jennison Associates LLC acquired a new position in NIKE in the 1st quarter valued at $509,051,000. Nuveen LLC acquired a new position in NIKE in the 1st quarter valued at $502,285,000. Finally, Vanguard Group Inc. raised its holdings in NIKE by 4.6% in the 1st 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 owned by institutional investors.

Insider Transactions at NIKE

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

NIKE Stock Performance

NKE opened at $76.1760 on Thursday. The stock's 50 day simple moving average is $71.88 and its 200-day simple moving average is $67.69. The company has a current ratio of 2.21, a quick ratio of 1.50 and a debt-to-equity ratio of 0.60. The stock has a market cap of $112.50 billion, a PE ratio of 35.27, a P/E/G ratio of 2.79 and a beta of 1.27. NIKE, Inc. has a 1 year low of $52.28 and a 1 year high of $90.62.

NIKE (NYSE:NKE - Get Free Report) last issued its earnings results on Thursday, June 26th. The footwear maker reported $0.14 EPS for the quarter, topping the consensus estimate of $0.12 by $0.02. The firm 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%.NIKE's quarterly revenue was down 11.9% compared to the same quarter last year. During the same period last year, the business earned $0.99 earnings per share. Sell-side analysts forecast that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd will be paid a $0.40 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.1%. NIKE's payout ratio is presently 74.07%.

Analyst Ratings Changes

A number of research firms have issued reports on NKE. Needham & Company LLC upped their price target on shares of NIKE from $66.00 to $78.00 and gave the company a "buy" rating in a report on Friday, June 27th. Telsey Advisory Group restated a "market perform" rating and set a $70.00 target price on shares of NIKE in a research note on Friday, June 27th. Argus raised NIKE to a "buy" rating in a report on Sunday, July 6th. Truist Financial cut their price target on NIKE from $82.00 to $73.00 and set a "buy" rating for the company in a report on Tuesday, June 24th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on NIKE from $77.00 to $71.00 and set a "buy" rating for the company in a research report on Friday, June 20th. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $78.22.

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.

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