Nations Financial Group Inc. IA ADV Sells 5,360 Shares of NIKE, Inc. (NYSE:NKE)

Key Points

• Nations Financial Group Inc. IA ADV reduced its stake in NIKE, Inc. by 26.2%, selling 5,360 shares and ending the first quarter with 15,086 shares valued at $958,000.
• Institutional ownership of NIKE stands at 64.25%, with major players like Vanguard Group increasing their holdings by 4.6% and Goldman Sachs boosting theirs by a remarkable 344.2% in the first quarter.
• NIKE reported earnings of $0.14 per share for the last quarter, exceeding expectations and showing a revenue of $11.10 billion, though down 11.9% from the previous year.

Nations Financial Group Inc. IA ADV lessened its position in NIKE, Inc. (NYSE:NKE - Free Report) by 26.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,086 shares of the footwear maker's stock after selling 5,360 shares during the period. Nations Financial Group Inc. IA ADV's holdings in NIKE were worth $958,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of 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 acquiring an additional 4,957,494 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of NIKE by 344.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 26,698,835 shares of the footwear maker's stock worth $1,694,842,000 after buying an additional 20,688,013 shares during the period. Capital World Investors boosted its holdings in shares of NIKE by 10.3% during the 4th quarter. Capital World Investors now owns 24,545,937 shares of the footwear maker's stock worth $1,857,389,000 after buying an additional 2,288,627 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of NIKE by 3.0% during the 1st quarter. Bank of New York Mellon Corp now owns 20,988,207 shares of the footwear maker's stock worth $1,332,331,000 after buying an additional 620,214 shares during the period. Finally, Northern Trust Corp boosted its holdings in shares of NIKE by 8.8% during the 4th quarter. Northern Trust Corp now owns 14,690,435 shares of the footwear maker's stock worth $1,111,625,000 after buying an additional 1,183,641 shares during the period. Institutional investors own 64.25% of the company's stock.

NIKE Price Performance

NKE stock opened at $77.17 on Friday. The company has a 50 day simple moving average of $71.05 and a 200 day simple moving average of $67.63. The stock has a market cap of $113.97 billion, a price-to-earnings ratio of 35.73, a P/E/G ratio of 2.80 and a beta of 1.27. NIKE, Inc. has a 1 year low of $52.28 and a 1 year high of $90.62. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.21 and a quick ratio of 1.50.

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

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Tuesday, September 2nd. NIKE's dividend payout ratio is currently 74.07%.

Insider Transactions at NIKE

In related news, Chairman Mark G. Parker sold 110,000 shares of the company's stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $72.29, for a total transaction of $7,951,900.00. Following the completion of the transaction, the chairman directly owned 842,361 shares in the company, valued at $60,894,276.69. This represents a 11.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.80% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts recently commented on NKE shares. Evercore ISI reduced their target price on shares of NIKE from $97.00 to $75.00 and set an "outperform" rating for the company in a report on Tuesday, June 24th. Wall Street Zen downgraded shares of NIKE from a "hold" rating to a "sell" rating in a report on Friday, June 27th. Williams Trading reduced their target price on shares of NIKE from $93.00 to $73.00 and set a "buy" rating for the company in a report on Monday, April 21st. Needham & Company LLC lifted their target price on shares of NIKE from $66.00 to $78.00 and gave the stock a "buy" rating in a report on Friday, June 27th. Finally, Piper Sandler lifted their target price on shares of NIKE from $70.00 to $80.00 and gave the stock an "overweight" rating in a report on Friday, June 27th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, seventeen have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, NIKE has an average rating of "Moderate Buy" and a consensus price target of $78.22.

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.

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