Ilmarinen Mutual Pension Insurance Co Trims Stock Position in NIKE, Inc. $NKE

Key Points

• Ilmarinen Mutual Pension Insurance Co has reduced its stake in NIKE, Inc. by 5.5%, holding 206,646 shares valued at approximately $13.1 million after selling 12,000 shares recently.
• Multiple institutional investors have changed their positions in NIKE, with notable increases in holdings from firms such as Security National Bank and Woodline Partners.
• NIKE's stock has received varied ratings from analysts, with an average target price of $78.22, and a quarterly earnings report showing revenues down 11.9% year-over-year, yet beating EPS estimates.

Ilmarinen Mutual Pension Insurance Co cut its holdings in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 5.5% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 206,646 shares of the footwear maker's stock after selling 12,000 shares during the period. Ilmarinen Mutual Pension Insurance Co's holdings in NIKE were worth $13,118,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of NKE. Security National Bank of Sioux City Iowa IA lifted its stake in NIKE by 20.0% in the 1st quarter. Security National Bank of Sioux City Iowa IA now owns 30,224 shares of the footwear maker's stock worth $1,919,000 after purchasing an additional 5,031 shares in the last quarter. SageView Advisory Group LLC raised its stake in NIKE by 38.9% during the 1st quarter. SageView Advisory Group LLC now owns 6,233 shares of the footwear maker's stock worth $396,000 after acquiring an additional 1,745 shares in the last quarter. SCS Capital Management LLC purchased a new stake in shares of NIKE in the first quarter valued at about $575,000. Woodline Partners LP increased its stake in shares of NIKE by 48.3% during the first quarter. Woodline Partners LP now owns 99,797 shares of the footwear maker's stock worth $6,335,000 after acquiring an additional 32,489 shares during the period. Finally, McIlrath & Eck LLC grew its position in NIKE by 10.7% during the first quarter. McIlrath & Eck LLC now owns 8,677 shares of the footwear maker's stock worth $551,000 after buying an additional 840 shares during the period. Hedge funds and other institutional investors own 64.25% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on NKE. Hsbc Global Res raised shares of NIKE from a "hold" rating to a "strong-buy" rating in a research note on Friday, June 27th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of NIKE from $77.00 to $71.00 and set a "buy" rating on the stock in a research report on Friday, June 20th. UBS Group started coverage on shares of NIKE in a report on Sunday, July 6th. They set a "buy" rating for the company. The Goldman Sachs Group upped their target price on shares of NIKE from $72.00 to $81.00 and gave the company a "buy" rating in a research note on Friday, June 27th. Finally, Truist Financial cut their price target on NIKE from $82.00 to $73.00 and set a "buy" rating for the company in a report on Tuesday, June 24th. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and thirteen have issued a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $78.22.

NIKE Price Performance

NYSE:NKE opened at $73.60 on Wednesday. The firm has a fifty day simple moving average of $75.54 and a 200 day simple moving average of $67.87. NIKE, Inc. has a 1-year low of $52.28 and a 1-year high of $90.62. The stock has a market capitalization of $108.70 billion, a PE ratio of 34.07, a P/E/G ratio of 2.69 and a beta of 1.24. The company has a current ratio of 2.21, a quick ratio of 1.50 and a debt-to-equity ratio of 0.60.

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 return on equity of 23.33% and a net margin of 6.95%.The business had revenue of $11.10 billion during the quarter, compared to the consensus estimate of $10.69 billion. During the same quarter last year, the firm posted $0.99 EPS. The company's quarterly revenue was down 11.9% on a year-over-year basis. On average, research analysts expect that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

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

Insider Buying and Selling

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $72.29, for a total value of $7,951,900.00. Following the transaction, the chairman owned 842,361 shares in the company, valued at $60,894,276.69. The trade was a 11.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.80% of the stock is currently owned by company insiders.

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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