New Age Alpha Advisors LLC Sells 6,024 Shares of NIKE, Inc. (NYSE:NKE)

New Age Alpha Advisors LLC lessened its position in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 13.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 37,820 shares of the footwear maker's stock after selling 6,024 shares during the period. New Age Alpha Advisors LLC's holdings in NIKE were worth $2,401,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Jennison Associates LLC bought a new position in NIKE in the first quarter valued at about $509,051,000. Capital World Investors increased its position in 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 purchasing an additional 2,288,627 shares in the last quarter. Flossbach Von Storch SE lifted its stake in NIKE by 24.0% in the 1st quarter. Flossbach Von Storch SE now owns 10,286,619 shares of the footwear maker's stock valued at $652,995,000 after purchasing an additional 1,988,547 shares during the last quarter. Toronto Dominion Bank boosted its position in NIKE by 183.9% in the fourth quarter. Toronto Dominion Bank now owns 2,996,972 shares of the footwear maker's stock valued at $226,779,000 after buying an additional 1,941,375 shares in the last quarter. Finally, Capital Research Global Investors grew its stake in shares of NIKE by 269.6% during the fourth quarter. Capital Research Global Investors now owns 2,429,708 shares of the footwear maker's stock worth $183,854,000 after buying an additional 1,772,342 shares during the last quarter. Institutional investors and hedge funds own 64.25% of the company's stock.

NIKE Trading Down 0.2%

NKE traded down $0.18 during trading on Friday, hitting $74.17. 6,733,814 shares of the stock traded hands, compared to its average volume of 11,448,546. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $90.62. The firm has a market capitalization of $109.54 billion, a P/E ratio of 34.34, a price-to-earnings-growth ratio of 2.70 and a beta of 1.27. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.21 and a quick ratio of 1.50. The firm has a 50-day moving average of $69.70 and a 200 day moving average of $67.64.

NIKE (NYSE:NKE - Get Free Report) last announced its earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share for the quarter, beating analysts' consensus estimates of $0.12 by $0.02. The business had revenue of $11.10 billion during the quarter, compared to the consensus estimate of $10.69 billion. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The business's revenue for the quarter was down 11.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.99 earnings per share. Equities research analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

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

Insider Activity

In other news, Chairman Mark G. Parker sold 110,000 shares of the firm's stock in a transaction 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 sale, the chairman directly owned 842,361 shares in the company, valued at $60,894,276.69. This trade represents a 11.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on NKE shares. HSBC upgraded NIKE from a "hold" rating to a "buy" rating and set a $80.00 price target for the company in a research note on Friday, June 27th. Deutsche Bank Aktiengesellschaft decreased their price target on NIKE from $77.00 to $71.00 and set a "buy" rating for the company in a research note on Friday, June 20th. DZ Bank lowered NIKE from a "buy" rating to a "hold" rating and set a $76.00 price objective on the stock. in a research note on Thursday, July 10th. Citigroup upped their price objective on shares of NIKE from $57.00 to $68.00 and gave the company a "neutral" rating in a research note on Friday, June 27th. Finally, Piper Sandler increased their price objective on shares of NIKE from $70.00 to $80.00 and gave the stock an "overweight" rating in a research report on Friday, June 27th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, seventeen have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $78.22.

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.