NIKE, Inc. (NYSE:NKE) Shares Sold by Bryn Mawr Capital Management LLC

Bryn Mawr Capital Management LLC lowered its holdings in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 10.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 31,940 shares of the footwear maker's stock after selling 3,719 shares during the quarter. Bryn Mawr Capital Management LLC's holdings in NIKE were worth $2,028,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Bridgewater Advisors Inc. purchased a new stake in shares of NIKE in the first quarter valued at $595,000. Kornitzer Capital Management Inc. KS increased its stake in NIKE by 126.2% in the 1st quarter. Kornitzer Capital Management Inc. KS now owns 25,702 shares of the footwear maker's stock worth $1,632,000 after buying an additional 14,337 shares during the period. PAX Financial Group LLC increased its stake in NIKE by 6.5% in the 1st quarter. PAX Financial Group LLC now owns 6,394 shares of the footwear maker's stock worth $406,000 after buying an additional 392 shares during the period. Wealthfront Advisers LLC increased its stake in NIKE by 42.2% in the 1st quarter. Wealthfront Advisers LLC now owns 117,400 shares of the footwear maker's stock worth $7,453,000 after buying an additional 34,832 shares during the period. Finally, West Family Investments Inc. purchased a new position in NIKE in the 1st quarter worth about $203,000. Hedge funds and other institutional investors own 64.25% of the company's stock.

NIKE Price Performance

NIKE stock traded up $0.10 during trading on Wednesday, reaching $72.09. The company had a trading volume of 9,005,443 shares, compared to its average volume of 15,127,866. The firm's 50-day simple moving average is $64.66 and its 200 day simple moving average is $67.27. NIKE, Inc. has a 1-year low of $52.28 and a 1-year high of $90.62. The firm has a market capitalization of $106.63 billion, a PE ratio of 33.37, a price-to-earnings-growth ratio of 2.65 and a beta of 1.25. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.50 and a current ratio of 2.21.

NIKE (NYSE:NKE - Get Free Report) last released its quarterly earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.12 by $0.02. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The firm had revenue of $11.10 billion for the quarter, compared to analysts' expectations of $10.69 billion. During the same quarter last year, the company earned $0.99 EPS. The firm's revenue for the quarter was down 11.9% compared to the same quarter last year. As a group, equities research analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd were given a dividend of $0.40 per share. The ex-dividend date was Monday, June 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.22%. NIKE's payout ratio is 74.07%.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Truist Financial reduced their price target on shares of NIKE from $82.00 to $73.00 and set a "buy" rating on the stock in a research note on Tuesday, June 24th. Barclays increased their target price on shares of NIKE from $53.00 to $64.00 and gave the stock an "equal weight" rating in a report on Friday, June 27th. Robert W. Baird increased their target price on shares of NIKE from $80.00 to $88.00 and gave the stock an "outperform" rating in a report on Friday, June 27th. Wells Fargo & Company increased their target price on shares of NIKE from $55.00 to $60.00 and gave the stock an "equal weight" rating in a report on Wednesday, May 14th. Finally, JPMorgan Chase & Co. raised their price target on shares of NIKE from $56.00 to $64.00 and gave the company a "neutral" rating in a report on Friday, June 27th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, sixteen have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $77.15.

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.