Financiere des Professionnels Fonds d investissement inc. Sells 24,407 Shares of NIKE, Inc. $NKE

Key Points

• Financiere des Professionnels Fonds d investissement inc. has decreased its holdings in NIKE by 22.6%, selling 24,407 shares, which brings their total ownership to 83,826 shares valued at approximately $5.95 million.
• Insider trading activity includes NIKE Chairman Mark G. Parker selling 86,078 shares at an average price of $75.93, resulting in a total sale of approximately $6.54 million.
• Recent analyst ratings for NIKE show a consensus of a "Moderate Buy" with 3 analysts rating it a Strong Buy, 19 as Buy, and 11 as Hold, with an average target price of $78.89.

Financiere des Professionnels Fonds d investissement inc. reduced its position in NIKE, Inc. (NYSE:NKE - Free Report) by 22.6% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 83,826 shares of the footwear maker's stock after selling 24,407 shares during the period. Financiere des Professionnels Fonds d investissement inc.'s holdings in NIKE were worth $5,955,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of NKE. Spire Wealth Management boosted its stake in NIKE by 4.4% in the 1st quarter. Spire Wealth Management now owns 9,872 shares of the footwear maker's stock worth $627,000 after purchasing an additional 416 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich boosted its stake in NIKE by 0.6% in the 1st quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,008,340 shares of the footwear maker's stock worth $69,932,000 after purchasing an additional 5,601 shares in the last quarter. Mackenzie Financial Corp boosted its stake in NIKE by 75.1% in the 4th quarter. Mackenzie Financial Corp now owns 539,650 shares of the footwear maker's stock worth $40,835,000 after purchasing an additional 231,417 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd acquired a new stake in NIKE in the 1st quarter worth approximately $25,963,000. Finally, Olstein Capital Management L.P. boosted its stake in NIKE by 42.2% in the 1st quarter. Olstein Capital Management L.P. now owns 91,000 shares of the footwear maker's stock worth $5,777,000 after purchasing an additional 27,000 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Chairman Mark G. Parker sold 86,078 shares of the company's stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $75.93, for a total transaction of $6,535,902.54. Following the completion of the sale, the chairman owned 744,988 shares of the company's stock, valued at $56,566,938.84. This represents a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.80% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

NKE has been the subject of a number of recent analyst reports. Telsey Advisory Group reiterated a "market perform" rating and issued a $70.00 target price on shares of NIKE in a research note on Friday, June 27th. HSBC upgraded shares of NIKE from a "hold" rating to a "buy" rating and set a $80.00 target price for the company in a research note on Friday, June 27th. Sanford C. Bernstein reissued an "outperform" rating on shares of NIKE in a research report on Monday, August 18th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of NIKE from $77.00 to $71.00 and set a "buy" rating for the company in a research note on Friday, June 20th. Finally, Truist Financial decreased their price objective on shares of NIKE from $82.00 to $73.00 and set a "buy" rating for the company in a research note on Tuesday, June 24th. Three analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and eleven have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $78.89.

NIKE Stock Performance

NYSE:NKE opened at $72.72 on Wednesday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.50 and a current ratio of 2.21. The company has a fifty day moving average of $75.30 and a two-hundred day moving average of $67.63. The stock has a market capitalization of $107.40 billion, a PE ratio of 33.67, a P/E/G ratio of 2.65 and a beta of 1.24. NIKE, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $90.62.

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

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.2%. NIKE's dividend payout ratio is presently 74.07%.

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.

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