Diversified Trust Co Sells 11,881 Shares of NIKE, Inc. (NYSE:NKE)

Diversified Trust Co reduced its position in NIKE, Inc. (NYSE:NKE - Free Report) by 67.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,704 shares of the footwear maker's stock after selling 11,881 shares during the period. Diversified Trust Co's holdings in NIKE were worth $362,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Wellington Management Group LLP raised its position in NIKE by 32.4% during the fourth quarter. Wellington Management Group LLP now owns 36,340,736 shares of the footwear maker's stock valued at $2,749,903,000 after acquiring an additional 8,898,591 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of NIKE by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 25,376,558 shares of the footwear maker's stock valued at $1,915,110,000 after purchasing an additional 347,178 shares in the last quarter. Capital World Investors raised its holdings in shares of NIKE by 10.3% during the 4th quarter. Capital World Investors now owns 24,545,937 shares of the footwear maker's stock valued at $1,857,389,000 after purchasing an additional 2,288,627 shares in the last quarter. Norges Bank acquired a new stake in shares of NIKE in the 4th quarter valued at $1,126,288,000. Finally, Northern Trust Corp boosted its holdings in NIKE by 8.8% in the fourth quarter. Northern Trust Corp now owns 14,690,435 shares of the footwear maker's stock worth $1,111,625,000 after purchasing an additional 1,183,641 shares in the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

NIKE Stock Performance

Shares of NKE traded up $2.34 on Tuesday, reaching $73.38. 27,492,625 shares of the stock traded hands, compared to its average volume of 15,460,532. The stock's 50-day moving average price is $60.93 and its 200-day moving average price is $67.40. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.21 and a quick ratio of 1.50. The firm has a market cap of $108.54 billion, a price-to-earnings ratio of 33.97, a P/E/G ratio of 2.73 and a beta of 1.21. NIKE, Inc. has a 12 month low of $52.28 and a 12 month high of $90.62.

NIKE (NYSE:NKE - Get Free Report) last announced its quarterly earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share (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 firm had revenue of $11.10 billion for the quarter, compared to analyst estimates of $10.69 billion. During the same quarter in the previous year, the firm posted $0.99 EPS. The business's revenue for the quarter was down 11.9% on a year-over-year basis. Equities analysts forecast that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be paid a $0.40 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.18%. NIKE's payout ratio is currently 53.16%.

Analysts Set New Price Targets

NKE has been the topic of several recent research reports. Hsbc Global Res upgraded NIKE from a "hold" rating to a "strong-buy" rating in a report on Friday. Truist Financial lowered their price objective on NIKE from $82.00 to $73.00 and set a "buy" rating on the stock in a report on Tuesday, June 24th. Needham & Company LLC boosted their target price on NIKE from $66.00 to $78.00 and gave the stock a "buy" rating in a report on Friday. Bank of America upped their target price on NIKE from $80.00 to $84.00 and gave the stock a "buy" rating in a research report on Friday. Finally, Cfra Research raised shares of NIKE to a "moderate buy" rating in a research report on Friday, March 21st. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, fifteen have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, NIKE currently has a consensus rating of "Moderate Buy" and a consensus target price of $77.19.

Insider Transactions at NIKE

In related news, Director Robert Holmes Swan acquired 8,600 shares of the firm's stock in a transaction on Friday, April 4th. The shares were bought at an average cost of $58.46 per share, with a total value of $502,756.00. Following the completion of the acquisition, the director owned 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 acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.10% of the stock is owned by company insiders.

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.