Concurrent Investment Advisors LLC Sells 10,006 Shares of NIKE, Inc. (NYSE:NKE)

Concurrent Investment Advisors LLC lowered its stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 19.4% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 41,610 shares of the footwear maker's stock after selling 10,006 shares during the quarter. Concurrent Investment Advisors LLC's holdings in NIKE were worth $2,641,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Norges Bank bought a new stake in shares of NIKE during the 4th quarter worth $1,126,288,000. Wellington Management Group LLP raised its position in NIKE by 32.4% in the 4th quarter. Wellington Management Group LLP now owns 36,340,736 shares of the footwear maker's stock worth $2,749,903,000 after purchasing an additional 8,898,591 shares during the period. Renaissance Technologies LLC lifted its stake in NIKE by 1,302.7% in the fourth quarter. Renaissance Technologies LLC now owns 2,602,101 shares of the footwear maker's stock worth $196,901,000 after purchasing an additional 2,416,601 shares during the last quarter. Capital World Investors grew its stake 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 valued at $1,857,389,000 after buying an additional 2,288,627 shares during the last quarter. Finally, Toronto Dominion Bank increased its holdings in shares of NIKE by 183.9% in the fourth quarter. Toronto Dominion Bank now owns 2,996,972 shares of the footwear maker's stock worth $226,779,000 after buying an additional 1,941,375 shares during the period. Hedge funds and other institutional investors own 64.25% of the company's stock.

Wall Street Analyst Weigh In

NKE has been the subject of a number of analyst reports. China Renaissance initiated coverage on NIKE in a research note on Wednesday, March 19th. They set a "hold" rating for the company. Evercore ISI reduced their target price on NIKE from $97.00 to $75.00 and set an "outperform" rating on the stock in a research note on Tuesday, June 24th. Truist Financial dropped their price target on NIKE from $82.00 to $73.00 and set a "buy" rating for the company in a research note on Tuesday, June 24th. Cfra Research raised shares of NIKE to a "moderate buy" rating in a research report on Friday, March 21st. Finally, Needham & Company LLC lifted their target price on shares of NIKE from $66.00 to $78.00 and gave the company a "buy" rating in a research note on Friday, June 27th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, sixteen have given a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, NIKE presently has an average rating of "Moderate Buy" and an average price target of $77.19.

NIKE Price Performance

Shares of NKE stock traded up $0.18 during trading hours on Monday, hitting $76.57. The stock had a trading volume of 17,282,720 shares, compared to its average volume of 15,363,185. The stock has a market capitalization of $113.26 billion, a price-to-earnings ratio of 35.45, a PEG ratio of 2.77 and a beta of 1.25. The stock's 50-day moving average price is $62.36 and its two-hundred day moving average price is $67.35. 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, Inc. has a one year low of $52.28 and a one year high of $90.62.

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

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd were paid a dividend of $0.40 per share. The ex-dividend date was Monday, June 2nd. This represents a $1.60 annualized dividend and a yield of 2.09%. NIKE's payout ratio is currently 74.07%.

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.