Ieq Capital LLC Sells 12,471 Shares of NIKE, Inc. $NKE

Key Points

• Ieq Capital LLC reduced its stake in NIKE, selling 12,471 shares, resulting in a 19.0% decrease in its holdings for a total of 53,235 shares valued at approximately $3.38 million.
• Significant institutional interest in NIKE has been observed, with Goldman Sachs increasing its position by 344.2%, now holding over 26.7 million shares valued at around $1.69 billion.
• The company declared a quarterly dividend of $0.40 per share, which will be paid on October 1st, reflecting a dividend yield of 2.1% based on current stock performance.

Ieq Capital LLC trimmed its position in NIKE, Inc. (NYSE:NKE - Free Report) by 19.0% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 53,235 shares of the footwear maker's stock after selling 12,471 shares during the period. Ieq Capital LLC's holdings in NIKE were worth $3,379,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of NKE. Goldman Sachs Group Inc. boosted its position in NIKE by 344.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 26,698,835 shares of the footwear maker's stock valued at $1,694,842,000 after buying an additional 20,688,013 shares during the last quarter. Wellington Management Group LLP boosted its position in NIKE by 24.9% in the 1st quarter. Wellington Management Group LLP now owns 45,383,916 shares of the footwear maker's stock valued at $2,880,971,000 after buying an additional 9,043,180 shares during the last quarter. Jennison Associates LLC bought a new position in NIKE in the 1st quarter valued at $509,051,000. Nuveen LLC bought a new position in NIKE in the 1st quarter valued at $502,285,000. Finally, Vanguard Group Inc. boosted its position in NIKE by 4.6% in the 1st quarter. Vanguard Group Inc. now owns 113,151,080 shares of the footwear maker's stock valued at $7,182,831,000 after buying an additional 4,957,494 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors.

Insider Activity

In other NIKE news, Chairman Mark G. Parker sold 86,078 shares of NIKE stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $75.93, for a total value of $6,535,902.54. Following the sale, the chairman owned 744,988 shares of the company's stock, valued at $56,566,938.84. This trade represents a 10.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.80% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

NKE has been the topic of several recent research reports. Evercore ISI reduced their price target on NIKE from $97.00 to $75.00 and set an "outperform" rating on the stock in a research report on Tuesday, June 24th. Deutsche Bank Aktiengesellschaft reduced their price target on NIKE from $77.00 to $71.00 and set a "buy" rating on the stock in a research report on Friday, June 20th. Piper Sandler raised their price target on NIKE from $70.00 to $80.00 and gave the stock an "overweight" rating in a research report on Friday, June 27th. Argus upgraded NIKE to a "buy" rating in a research report on Sunday, July 6th. Finally, Needham & Company LLC raised their price target on NIKE from $66.00 to $78.00 and gave the stock a "buy" rating in a research report on Friday, June 27th. Three analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and thirteen have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $78.22.

NIKE Stock Performance

Shares of NIKE stock opened at $77.34 on Friday. The company has a market capitalization of $114.22 billion, a PE ratio of 35.81, a PEG ratio of 2.81 and a beta of 1.27. NIKE, Inc. has a 12 month low of $52.28 and a 12 month high of $90.62. The company has a current ratio of 2.21, a quick ratio of 1.50 and a debt-to-equity ratio of 0.60. The stock's fifty day simple moving average is $74.32 and its 200 day simple moving average is $67.90.

NIKE (NYSE:NKE - Get Free Report) last issued its quarterly earnings data on Thursday, June 26th. The footwear maker reported $0.14 EPS for the quarter, topping the consensus estimate of $0.12 by $0.02. The business had revenue of $11.10 billion for the quarter, compared to the consensus estimate of $10.69 billion. NIKE had a return on equity of 23.33% and a net margin of 6.95%.The firm's revenue was down 11.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.99 EPS. On average, research analysts predict that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be paid a $0.40 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.1%. NIKE's dividend payout ratio (DPR) 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.

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