Mizuho Securities USA LLC Sells 18,260 Shares of NIKE, Inc. (NYSE:NKE)

Key Points

• Mizuho Securities USA LLC reduced its holdings in NIKE, Inc. by 16.2%, now owning 94,582 shares valued at approximately $6 million.
• NIKE reported better-than-expected quarterly earnings of $0.14 per share, exceeding analysts’ estimates, despite a year-over-year revenue decline of 11.9%.
• The company declared a quarterly dividend of $0.40 per share, representing an annualized yield of 2.2%, with a payout ratio of 74.07%.

Mizuho Securities USA LLC reduced its position in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 16.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 94,582 shares of the footwear maker's stock after selling 18,260 shares during the period. Mizuho Securities USA LLC's holdings in NIKE were worth $6,004,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Heck Capital Advisors LLC bought a new position in shares of NIKE during the fourth quarter valued at approximately $28,000. Roxbury Financial LLC increased its stake in shares of NIKE by 52.1% during the first quarter. Roxbury Financial LLC now owns 587 shares of the footwear maker's stock valued at $37,000 after purchasing an additional 201 shares in the last quarter. N.E.W. Advisory Services LLC bought a new position in shares of NIKE during the first quarter valued at approximately $37,000. Putney Financial Group LLC bought a new position in shares of NIKE during the fourth quarter valued at approximately $40,000. Finally, Minot DeBlois Advisors LLC bought a new stake in shares of NIKE during the fourth quarter valued at approximately $42,000. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at NIKE

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the business's stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $72.29, for a total value of $7,951,900.00. Following the completion of the sale, the chairman directly owned 842,361 shares of the company's stock, valued at $60,894,276.69. The trade was a 11.55% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Hsbc Global Res raised shares of NIKE from a "hold" rating to a "strong-buy" rating in a research report on Friday, June 27th. UBS Group assumed coverage on shares of NIKE in a research report on Sunday, July 6th. They set a "buy" rating for the company. Truist Financial reduced their price target on shares of NIKE from $82.00 to $73.00 and set a "buy" rating for the company in a research report on Tuesday, June 24th. Morgan Stanley raised their target price on shares of NIKE from $61.00 to $64.00 and gave the stock an "equal weight" rating in a report on Friday, June 27th. Finally, Jefferies Financial Group restated a "buy" rating on shares of NIKE in a report on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, seventeen have given a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat, NIKE presently has an average rating of "Moderate Buy" and an average target price of $78.22.

NIKE Trading Up 1.2%

Shares of NKE stock traded up $0.89 during trading hours on Tuesday, reaching $74.91. 6,397,175 shares of the stock were exchanged, compared to its average volume of 10,926,941. 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 company's 50-day moving average price is $70.20 and its 200-day moving average price is $67.60. The firm has a market capitalization of $110.63 billion, a price-to-earnings ratio of 34.68, a price-to-earnings-growth ratio of 2.69 and a beta of 1.27.

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

NIKE Dividend Announcement

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