NIKE, Inc. $NKE Shares Sold by Empowered Funds LLC

Empowered Funds LLC lowered its holdings in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 69.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 104,960 shares of the footwear maker's stock after selling 239,045 shares during the quarter. Empowered Funds LLC's holdings in NIKE were worth $5,544,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. J. Stern & Co. LLP lifted its position in shares of NIKE by 49,010.4% during the 4th quarter. J. Stern & Co. LLP now owns 48,054,542 shares of the footwear maker's stock valued at $3,061,555,000 after buying an additional 47,956,692 shares in the last quarter. Norges Bank purchased a new stake in NIKE in the 4th quarter worth $829,956,000. Harris Associates L P purchased a new stake in NIKE in the 2nd quarter worth $621,525,000. Capital World Investors raised its position in NIKE by 16.2% during the fourth quarter. Capital World Investors now owns 49,069,951 shares of the footwear maker's stock worth $3,126,246,000 after acquiring an additional 6,830,938 shares during the period. Finally, Jasper Ridge Partners L.P. raised its position in NIKE by 2,492.4% during the fourth quarter. Jasper Ridge Partners L.P. now owns 4,883,229 shares of the footwear maker's stock worth $311,111,000 after acquiring an additional 4,694,859 shares during the period. 64.25% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Piper Sandler dropped their target price on shares of NIKE from $50.00 to $45.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 1st. Argus upgraded shares of NIKE to a "strong-buy" rating in a research report on Wednesday, July 15th. Weiss Ratings raised shares of NIKE from a "sell (d)" rating to a "sell (d+)" rating in a research note on Friday, July 17th. Sanford C. Bernstein reiterated an "outperform" rating and issued a $68.00 price objective (down from $72.00) on shares of NIKE in a report on Wednesday. Finally, Robert W. Baird reiterated an "outperform" rating and set a $70.00 price objective on shares of NIKE in a research note on Wednesday, July 1st. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nineteen have issued a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $53.74.

NIKE Stock Down 1.0%

Shares of NYSE:NKE opened at $41.86 on Friday. The company has a quick ratio of 1.36, a current ratio of 1.96 and a debt-to-equity ratio of 0.40. The business has a fifty day moving average of $43.56 and a two-hundred day moving average of $50.36. The stock has a market cap of $62.10 billion, a P/E ratio of 20.03, a PEG ratio of 1.85 and a beta of 1.12. NIKE, Inc. has a 52-week low of $40.00 and a 52-week high of $80.17.

NIKE (NYSE:NKE - Get Free Report) last issued its earnings results on Tuesday, June 30th. The footwear maker reported $0.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.11 by $0.09. NIKE had a return on equity of 16.54% and a net margin of 6.70%.The business had revenue of $10.97 billion during the quarter, compared to the consensus estimate of $10.85 billion. During the same period last year, the company earned $0.14 EPS. The company's revenue for the quarter was down 1.1% on a year-over-year basis. On average, research analysts expect that NIKE, Inc. will post 1.74 earnings per share for the current year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Monday, June 1st were given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 3.9%. The ex-dividend date was Monday, June 1st. NIKE's dividend payout ratio (DPR) is presently 78.47%.

Insider Transactions at NIKE

In other NIKE news, EVP Philip Mccartney sold 17,398 shares of NIKE stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $46.18, for a total transaction of $803,439.64. Following the transaction, the executive vice president directly owned 53,133 shares of the company's stock, valued at $2,453,681.94. The trade was a 24.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 1.10% of the company's stock.

NIKE Profile

Nike, Inc NYSE: NKE is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).

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