Cooper Investors PTY Ltd. Sells 6,624 Shares of NIKE, Inc. (NYSE:NKE)

Cooper Investors PTY Ltd. trimmed its position in NIKE, Inc. (NYSE:NKE - Free Report) by 7.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 82,563 shares of the footwear maker's stock after selling 6,624 shares during the quarter. Cooper Investors PTY Ltd.'s holdings in NIKE were worth $5,241,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Heck Capital Advisors LLC bought a new position in shares of NIKE in the 4th quarter valued at $28,000. LFA Lugano Financial Advisors SA grew its position in NIKE by 110.5% in the fourth quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker's stock valued at $30,000 after acquiring an additional 210 shares during the last quarter. Hopwood Financial Services Inc. bought a new position in NIKE in the fourth quarter valued at about $30,000. EnRich Financial Partners LLC raised its stake in NIKE by 196.4% during the fourth quarter. EnRich Financial Partners LLC now owns 412 shares of the footwear maker's stock worth $31,000 after acquiring an additional 273 shares in the last quarter. Finally, BankPlus Trust Department bought a new position in shares of NIKE in the fourth quarter worth about $34,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at NIKE

In related news, Director Robert Holmes Swan acquired 8,600 shares of the business's stock in a transaction dated Friday, April 4th. The shares were bought at an average price of $58.46 per share, with a total value of $502,756.00. Following the transaction, the director now directly owns 31,983 shares of the company's stock, valued at $1,869,726.18. This trade represents a 36.78% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.10% of the company's stock.

NIKE Trading Down 0.9%

NYSE NKE traded down $0.58 during trading hours on Wednesday, hitting $60.84. 12,144,584 shares of the company's stock were exchanged, compared to its average volume of 15,318,760. 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 stock has a 50-day simple moving average of $60.17 and a 200 day simple moving average of $67.73. The company has a current ratio of 2.19, a quick ratio of 1.52 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a 1-year low of $52.28 and a 1-year high of $94.74.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.63%. The ex-dividend date of this dividend is Monday, June 2nd. NIKE's dividend payout ratio (DPR) is 53.16%.

Analyst Ratings Changes

A number of research firms recently issued reports on NKE. Piper Sandler lowered their price objective on shares of NIKE from $90.00 to $70.00 and set an "overweight" rating for the company in a research report on Friday, April 11th. Jefferies Financial Group reaffirmed a "buy" rating on shares of NIKE in a research note on Friday, May 23rd. UBS Group dropped their price target on NIKE from $73.00 to $66.00 and set a "neutral" rating for the company in a research note on Friday, March 21st. Needham & Company LLC cut their price objective on NIKE from $75.00 to $66.00 and set a "buy" rating on the stock in a report on Wednesday, June 18th. Finally, JPMorgan Chase & Co. lowered their target price on NIKE from $64.00 to $56.00 and set a "neutral" rating for the company in a report on Monday, May 5th. Sixteen analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $77.59.

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.