NIKE, Inc. $NKE Position Trimmed by Candriam S.C.A.

Key Points

• Candriam S.C.A. significantly reduced its holdings in NIKE, Inc. by 84.2%, selling 475,672 shares, and now owns 89,104 shares valued at approximately $5.66 million.
• Goldman Sachs increased its stake in NIKE by 344.2%, acquiring over 20.6 million additional shares, while Vanguard Group also raised its holdings by 4.6% during the same period.
• The company declared a quarterly dividend of $0.40 per share with an annualized dividend yield of 2.1%, reflecting a dividend payout ratio of 74.07%.

Candriam S.C.A. trimmed its holdings in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 84.2% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 89,104 shares of the footwear maker's stock after selling 475,672 shares during the period. Candriam S.C.A.'s holdings in NIKE were worth $5,656,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. lifted its position in shares of NIKE by 344.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 26,698,835 shares of the footwear maker's stock valued at $1,694,842,000 after acquiring an additional 20,688,013 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of NIKE by 24.9% in the 1st quarter. Wellington Management Group LLP now owns 45,383,916 shares of the footwear maker's stock valued at $2,880,971,000 after acquiring an additional 9,043,180 shares in the last quarter. Jennison Associates LLC purchased a new stake in shares of NIKE in the 1st quarter valued at approximately $509,051,000. Nuveen LLC purchased a new stake in shares of NIKE in the 1st quarter valued at approximately $502,285,000. Finally, Vanguard Group Inc. lifted 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 in the last quarter. 64.25% of the stock is currently owned by institutional investors.

Insider Transactions at NIKE

In related 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 value of $7,951,900.00. Following the transaction, the chairman directly owned 842,361 shares in the company, valued at approximately $60,894,276.69. This trade represents a 11.55% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.80% of the company's stock.

NIKE Stock Performance

Shares of NKE opened at $76.10 on Friday. The company's fifty day moving average is $72.15 and its 200-day moving average is $67.68. NIKE, Inc. has a 12 month low of $52.28 and a 12 month high of $90.62. The firm has a market cap of $112.39 billion, a price-to-earnings ratio of 35.23, a price-to-earnings-growth ratio of 2.77 and a beta of 1.27. The company has a quick ratio of 1.50, a current ratio of 2.21 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 EPS for the quarter, topping the consensus estimate of $0.12 by $0.02. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The company had revenue of $11.10 billion for the quarter, compared to analyst estimates of $10.69 billion. During the same quarter in the prior year, the business posted $0.99 EPS. NIKE's quarterly revenue was down 11.9% on a year-over-year basis. Equities analysts expect that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

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

Analyst Ratings Changes

NKE has been the subject of several research analyst reports. Piper Sandler upped their price target on shares of NIKE from $70.00 to $80.00 and gave the company an "overweight" rating in a research report on Friday, June 27th. Hsbc Global Res upgraded shares of NIKE from a "hold" rating to a "strong-buy" rating in a research report on Friday, June 27th. Morgan Stanley upped their price target on shares of NIKE from $61.00 to $64.00 and gave the company an "equal weight" rating in a research report on Friday, June 27th. Needham & Company LLC increased their target price on shares of NIKE from $66.00 to $78.00 and gave the stock a "buy" rating in a research report on Friday, June 27th. Finally, HSBC upgraded shares of NIKE from a "hold" rating to a "buy" rating and set a $80.00 target price for the company in a research report on Friday, June 27th. Three analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and twelve have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus 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.

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