Bahl & Gaynor Inc. Has $15.57 Million Stock Holdings in NIKE, Inc. $NKE

Key Points

• Bahl & Gaynor Inc. has reduced its stake in NIKE, Inc. by 12.3%, now holding 245,308 shares valued at approximately $15.57 million.
• The company's recent earnings report showed an EPS of $0.14, beating expectations, but revenue fell 11.9% year-over-year.
• NIKE has announced a quarterly dividend of $0.40 per share, with a yield of 2.0%, and a dividend payout ratio of 74.07%.

Bahl & Gaynor Inc. lessened its stake in NIKE, Inc. (NYSE:NKE - Free Report) by 12.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 245,308 shares of the footwear maker's stock after selling 34,529 shares during the quarter. Bahl & Gaynor Inc.'s holdings in NIKE were worth $15,572,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of NKE. Vanguard Group Inc. lifted its stake in shares of NIKE by 4.6% during the first 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. Wellington Management Group LLP boosted its stake in NIKE by 24.9% in the first 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 during the last quarter. Goldman Sachs Group Inc. lifted its stake 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 purchasing an additional 20,688,013 shares during the period. Bank of New York Mellon Corp boosted its position in shares of NIKE by 3.0% in 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 purchasing an additional 620,214 shares during the last quarter. Finally, Northern Trust Corp grew its stake in shares of NIKE by 8.8% during the fourth quarter. Northern Trust Corp now owns 14,690,435 shares of the footwear maker's stock worth $1,111,625,000 after purchasing an additional 1,183,641 shares during the period. Institutional investors and hedge funds own 64.25% of the company's stock.

NIKE Stock Down 0.6%

Shares of NYSE NKE traded down $0.45 during mid-day trading on Wednesday, hitting $78.20. The company had a trading volume of 12,633,901 shares, compared to its average volume of 16,515,779. NIKE, Inc. has a one year low of $52.28 and a one year high of $90.62. The company has a market capitalization of $115.50 billion, a PE ratio of 36.20, a price-to-earnings-growth ratio of 2.88 and a beta of 1.27. 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 firm has a 50-day simple moving average of $73.23 and a two-hundred day simple moving average of $67.77.

NIKE (NYSE:NKE - Get Free Report) last released its quarterly earnings data on Thursday, June 26th. The footwear maker reported $0.14 EPS for the quarter, topping analysts' consensus estimates of $0.12 by $0.02. The firm 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 company's revenue for the quarter was down 11.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.99 earnings per share. On average, equities analysts expect that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders 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 yield of 2.0%. NIKE's dividend payout ratio is presently 74.07%.

Insider Buying and Selling at NIKE

In other news, Chairman Mark G. Parker sold 86,078 shares of NIKE stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $75.93, for a total value of $6,535,902.54. Following the transaction, the chairman owned 744,988 shares in the company, valued at approximately $56,566,938.84. This trade represents a 10.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.80% of the company's stock.

Wall Street Analyst Weigh In

NKE has been the topic of several analyst reports. Argus raised NIKE to a "buy" rating in a research note on Sunday, July 6th. HSBC raised 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. Royal Bank Of Canada reduced their price objective on shares of NIKE from $66.00 to $65.00 and set a "sector perform" rating on the stock in a research note on Tuesday, May 20th. Piper Sandler upped their target price on shares of NIKE from $70.00 to $80.00 and gave the company an "overweight" rating in a research note on Friday, June 27th. Finally, Jefferies Financial Group reiterated a "buy" rating and issued a $115.00 target price on shares of NIKE in a report on Friday, August 22nd. Three analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and twelve have issued a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price 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.