Capital Investment Advisors LLC Sells 51,715 Shares of NIKE, Inc. (NYSE:NKE)

Capital Investment Advisors LLC lowered its holdings in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 47.1% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 58,014 shares of the footwear maker's stock after selling 51,715 shares during the period. Capital Investment Advisors LLC's holdings in NIKE were worth $3,683,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Wellington Management Group LLP increased its position in shares of NIKE by 32.4% during the fourth quarter. Wellington Management Group LLP now owns 36,340,736 shares of the footwear maker's stock worth $2,749,903,000 after buying an additional 8,898,591 shares during the period. Geode Capital Management LLC increased its position in shares of NIKE by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 25,376,558 shares of the footwear maker's stock worth $1,915,110,000 after buying an additional 347,178 shares during the period. Capital World Investors increased its position in shares of NIKE by 10.3% during the fourth quarter. Capital World Investors now owns 24,545,937 shares of the footwear maker's stock worth $1,857,389,000 after buying an additional 2,288,627 shares during the period. Bank of New York Mellon Corp increased its position in shares of NIKE by 18.1% during the fourth quarter. Bank of New York Mellon Corp now owns 20,367,993 shares of the footwear maker's stock worth $1,541,246,000 after buying an additional 3,121,929 shares during the period. Finally, Norges Bank acquired a new stake in shares of NIKE during the fourth quarter worth $1,126,288,000. Institutional investors own 64.25% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on NKE shares. UBS Group decreased their price objective on shares of NIKE from $73.00 to $66.00 and set a "neutral" rating for the company in a research report on Friday, March 21st. Jefferies Financial Group restated a "buy" rating on shares of NIKE in a report on Friday, May 23rd. Needham & Company LLC reduced their price target on shares of NIKE from $84.00 to $80.00 and set a "buy" rating for the company in a report on Monday, March 17th. Piper Sandler reduced their price target on shares of NIKE from $90.00 to $70.00 and set an "overweight" rating for the company in a report on Friday, April 11th. Finally, Berenberg Bank assumed coverage on shares of NIKE in a report on Tuesday, April 15th. They issued a "hold" rating and a $58.00 price target for the company. Seventeen research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $80.26.

Insider Transactions at NIKE

In related news, Director Robert Holmes Swan purchased 8,600 shares of the firm's stock in a transaction dated Friday, April 4th. The shares were purchased at an average price of $58.46 per share, with a total value of $502,756.00. Following the acquisition, the director now directly owns 31,983 shares of the company's stock, valued at approximately $1,869,726.18. This represents a 36.78% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.10% of the company's stock.

NIKE Price Performance

Shares of NYSE:NKE opened at $62.82 on Monday. The company's fifty day moving average price is $58.86 and its 200-day moving average price is $69.15. The firm has a market capitalization of $92.92 billion, a price-to-earnings ratio of 19.39, a PEG ratio of 2.52 and a beta of 1.21. NIKE, Inc. has a one year low of $52.28 and a one year high of $98.04. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51.

NIKE (NYSE:NKE - Get Free Report) last issued its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, topping analysts' consensus estimates of $0.28 by $0.26. The firm had revenue of $11.27 billion for the quarter, compared to analyst estimates of $11.02 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The business's revenue for the quarter was down 9.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.98 EPS. On average, equities research analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date of this dividend is Monday, June 2nd. NIKE's payout ratio is 53.16%.

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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