Heritage Investors Management Corp Lowers Stock Holdings in NIKE, Inc. $NKE

Key Points

• Heritage Investors Management Corp cut its NIKE stake by 8.1% in the fourth quarter, selling 29,357 shares and leaving it with 333,715 shares valued at about $21.3 million.
• Wall Street’s view on NIKE remains mixed but generally cautious: the stock has a consensus Hold rating with an average price target of $62.04, even as some firms upgraded or reiterated bullish stances.
• NIKE reported quarterly earnings of $0.35 per share, topping estimates, while revenue of $11.28 billion also slightly beat forecasts; the company additionally declared a quarterly dividend of $0.41 per share.

Heritage Investors Management Corp trimmed its holdings in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 8.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 333,715 shares of the footwear maker's stock after selling 29,357 shares during the period. Heritage Investors Management Corp's holdings in NIKE were worth $21,261,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Guerra Advisors Inc purchased a new position in shares of NIKE during the third quarter valued at approximately $34,000. Gordian Capital Singapore Pte Ltd purchased a new position in shares of NIKE during the third quarter valued at approximately $35,000. Accredited Wealth Management LLC lifted its holdings in shares of NIKE by 268.6% during the third quarter. Accredited Wealth Management LLC now owns 516 shares of the footwear maker's stock valued at $36,000 after purchasing an additional 376 shares during the last quarter. Strive Asset Management LLC purchased a new position in shares of NIKE during the third quarter valued at approximately $40,000. Finally, Matrix Trust Co lifted its holdings in shares of NIKE by 43.6% during the fourth quarter. Matrix Trust Co now owns 596 shares of the footwear maker's stock valued at $38,000 after purchasing an additional 181 shares during the last quarter. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on NKE. Truist Financial decreased their price objective on shares of NIKE from $69.00 to $57.00 and set a "buy" rating for the company in a report on Wednesday, April 1st. Weiss Ratings lowered shares of NIKE from a "sell (d+)" rating to a "sell (d)" rating in a report on Monday, May 4th. Wall Street Zen upgraded shares of NIKE from a "sell" rating to a "hold" rating in a report on Saturday, May 16th. JPMorgan Chase & Co. restated a "neutral" rating on shares of NIKE in a report on Monday, April 13th. Finally, Royal Bank Of Canada restated a "buy" rating on shares of NIKE in a report on Wednesday, April 1st. Sixteen investment analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, NIKE presently has a consensus rating of "Hold" and an average price target of $62.04.

NIKE Price Performance

Shares of NYSE NKE opened at $44.40 on Friday. The firm has a market cap of $65.75 billion, a P/E ratio of 29.40, a PEG ratio of 2.34 and a beta of 1.12. The company has a quick ratio of 1.45, a current ratio of 2.14 and a debt-to-equity ratio of 0.50. The company has a 50 day moving average of $46.81 and a 200 day moving average of $57.41. NIKE, Inc. has a twelve month low of $41.35 and a twelve month high of $80.17.

NIKE (NYSE:NKE - Get Free Report) last announced its earnings results on Tuesday, March 31st. The footwear maker reported $0.35 earnings per share for the quarter, beating analysts' consensus estimates of $0.29 by $0.06. The business had revenue of $11.28 billion during the quarter, compared to analyst estimates of $11.23 billion. NIKE had a net margin of 4.84% and a return on equity of 16.41%. The company's quarterly revenue was up .1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.54 EPS. As a group, research analysts expect that NIKE, Inc. will post 1.51 EPS for the current fiscal year.

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be paid a dividend of $0.41 per share. The ex-dividend date is Monday, June 1st. This represents a $1.64 dividend on an annualized basis and a yield of 3.7%. NIKE's payout ratio is currently 108.61%.

More NIKE News

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: NIKE shares are benefiting from a shift into consumer and cyclical stocks as market breadth improves, helping lift sentiment around the name. Nike Stock Is Testing A Level That Could Define The Next Move
• Positive Sentiment: Lower energy prices and softer long-term Treasury yields are helping consumer discretionary stocks, including NIKE, by easing inflation worries and supporting expectations for resilient consumer spending. Nike Stock Soars As Energy Prices And Bond Yields Drop
• Neutral Sentiment: NIKE remains a heavily watched stock, with recent articles and trending searches suggesting investors are actively reassessing the name rather than reacting to a single fundamental catalyst. NIKE, Inc. (NKE) Is a Trending Stock: Facts to Know Before Betting on It
• Neutral Sentiment: Analyst and commentary pieces are focused on whether NIKE is ready for a turnaround, but they do not point to a clear near-term catalyst on their own. Is Nike Stock (NKE) Ready for a Turnaround?
• Negative Sentiment: Some recent analysis remains cautious, arguing NIKE is still not cheap enough or that the operating environment is tough, which could limit upside if investors demand clearer evidence of a rebound. Nike: Not Cheap Enough Yet

Insider Activity at NIKE

In related news, Director Timothy D. Cook bought 25,000 shares of the firm's stock in a transaction on Friday, April 10th. The stock was acquired at an average cost of $42.43 per share, for a total transaction of $1,060,750.00. Following the purchase, the director owned 130,480 shares in the company, valued at approximately $5,536,266.40. This represents a 23.70% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John W. Rogers, Jr. bought 4,000 shares of the firm's stock in a transaction on Thursday, April 9th. The shares were bought at an average price of $43.34 per share, with a total value of $173,360.00. Following the completion of the purchase, the director owned 41,022 shares in the company, valued at approximately $1,777,893.48. The trade was a 10.80% increase in their position. The SEC filing for this purchase provides additional information. Insiders have acquired a total of 64,441 shares of company stock valued at $2,734,204 in the last quarter. 0.80% of the stock is currently owned by corporate insiders.

NIKE Profile

Nike, Inc NYSE: NKE is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).

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