Means Investment CO. Inc. Sells 7,458 Shares of NIKE, Inc. (NYSE:NKE)

Means Investment CO. Inc. cut its position in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 44.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,332 shares of the footwear maker's stock after selling 7,458 shares during the period. Means Investment CO. Inc.'s holdings in NIKE were worth $592,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Renaissance Technologies LLC raised its holdings in NIKE by 1,302.7% in the 4th quarter. Renaissance Technologies LLC now owns 2,602,101 shares of the footwear maker's stock valued at $196,901,000 after acquiring an additional 2,416,601 shares during the period. Capitolis Liquid Global Markets LLC grew its position in shares of NIKE by 40.9% in the fourth quarter. Capitolis Liquid Global Markets LLC now owns 310,000 shares of the footwear maker's stock valued at $23,458,000 after purchasing an additional 90,000 shares during the last quarter. Janus Henderson Group PLC grew its position in shares of NIKE by 8.3% in the fourth quarter. Janus Henderson Group PLC now owns 6,081,021 shares of the footwear maker's stock valued at $460,160,000 after purchasing an additional 463,470 shares during the last quarter. Markel Group Inc. increased its stake in shares of NIKE by 0.8% during the fourth quarter. Markel Group Inc. now owns 432,400 shares of the footwear maker's stock worth $32,720,000 after purchasing an additional 3,500 shares during the period. Finally, Evergreen Capital Management LLC lifted its holdings in NIKE by 3.3% during the 4th quarter. Evergreen Capital Management LLC now owns 237,199 shares of the footwear maker's stock worth $18,042,000 after purchasing an additional 7,536 shares during the last quarter. 64.25% of the stock is owned by institutional investors.

Insider Buying and Selling

In other NIKE news, Director Robert Holmes Swan purchased 8,600 shares of the firm's stock in a transaction that occurred on Friday, April 4th. The stock was purchased at an average cost of $58.46 per share, with a total value of $502,756.00. Following the purchase, the director now owns 31,983 shares of the company's stock, valued at approximately $1,869,726.18. The trade was a 36.78% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.10% of the stock is owned by corporate insiders.

NIKE Price Performance

Shares of NIKE stock opened at $59.47 on Friday. The firm has a market cap of $87.96 billion, a PE ratio of 19.76, a PEG ratio of 2.10 and a beta of 1.21. The stock has a 50 day moving average of $59.67 and a 200 day moving average of $68.23. The company has a current ratio of 2.19, a quick ratio of 1.52 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a 12 month low of $52.28 and a 12 month high of $98.04.

NIKE (NYSE:NKE - Get Free Report) last announced its earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.26. NIKE had a net margin of 9.43% and a return on equity of 32.18%. The firm had revenue of $11.27 billion for the quarter, compared to analysts' expectations of $11.02 billion. During the same period in the prior year, the company earned $0.98 EPS. The business's revenue was down 9.1% compared to the same quarter last year. On average, research analysts expect that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be issued a $0.40 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.69%. NIKE's dividend payout ratio (DPR) is presently 53.16%.

Analyst Ratings Changes

Several research firms recently commented on NKE. Stifel Nicolaus decreased their price target on shares of NIKE from $75.00 to $64.00 and set a "hold" rating on the stock in a research note on Thursday, April 10th. Piper Sandler decreased their target price on shares of NIKE from $90.00 to $70.00 and set an "overweight" rating on the stock in a research report on Friday, April 11th. Telsey Advisory Group reaffirmed a "market perform" rating and set a $70.00 target price on shares of NIKE in a report on Tuesday. Bank of America cut their price target on NIKE from $90.00 to $80.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Finally, Robert W. Baird reduced their price target on NIKE from $105.00 to $99.00 and set an "outperform" rating on the stock in a research report on Friday, March 21st. Seventeen equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, NIKE presently has an average rating of "Moderate Buy" and an average target price of $79.15.

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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