NIKE, Inc. (NYSE:NKE) Holdings Lowered by Fayez Sarofim & Co

Key Points

• Fayez Sarofim & Co has reduced its stake in NIKE by 0.4% during the first quarter, now owning approximately 2.2 million shares valued at $139.7 million.
• NIKE reported earnings of $0.14 per share for the most recent quarter, exceeding analysts' expectations, but its revenue declined by 11.9% year-over-year to $11.1 billion.
• Analyst ratings for NIKE are mixed, with a consensus rating of "Moderate Buy" and an average price target increase to $78.22 from various firms, reflecting a potential recovery outlook.

Fayez Sarofim & Co trimmed its stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 0.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,201,176 shares of the footwear maker's stock after selling 8,687 shares during the quarter. Fayez Sarofim & Co owned about 0.15% of NIKE worth $139,731,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. AlTi Global Inc. increased its position in shares of NIKE by 0.4% during the 4th quarter. AlTi Global Inc. now owns 36,996 shares of the footwear maker's stock worth $2,813,000 after purchasing an additional 150 shares in the last quarter. Cohen & Steers Inc. grew its holdings in NIKE by 5.3% during the 4th quarter. Cohen & Steers Inc. now owns 3,171 shares of the footwear maker's stock worth $240,000 after acquiring an additional 160 shares during the last quarter. Peregrine Asset Advisers Inc. grew its holdings in NIKE by 1.2% during the 1st quarter. Peregrine Asset Advisers Inc. now owns 15,119 shares of the footwear maker's stock worth $934,000 after acquiring an additional 181 shares during the last quarter. Aaron Wealth Advisors LLC grew its holdings in NIKE by 4.3% during the 1st quarter. Aaron Wealth Advisors LLC now owns 4,666 shares of the footwear maker's stock worth $296,000 after acquiring an additional 192 shares during the last quarter. Finally, Crew Capital Management Ltd. grew its holdings in NIKE by 1.4% during the 1st quarter. Crew Capital Management Ltd. now owns 13,752 shares of the footwear maker's stock worth $873,000 after acquiring an additional 192 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Chairman Mark G. Parker sold 110,000 shares of the company's stock in a transaction dated 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 sale, the chairman owned 842,361 shares of the company's stock, valued at $60,894,276.69. This represents a 11.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.80% of the stock is owned by corporate insiders.

NIKE Trading Up 1.5%

NKE stock opened at $75.51 on Thursday. 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 company has a fifty day moving average price of $69.17 and a two-hundred day moving average price of $67.61. NIKE, Inc. has a one year low of $52.28 and a one year high of $90.62. The stock has a market cap of $111.52 billion, a price-to-earnings ratio of 34.96, a price-to-earnings-growth ratio of 2.70 and a beta of 1.27.

NIKE (NYSE:NKE - Get Free Report) last announced its earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.12 by $0.02. The company 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%. NIKE's quarterly revenue was down 11.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.99 earnings per share. Equities analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Citigroup increased their price objective on shares of NIKE from $57.00 to $68.00 and gave the stock a "neutral" rating in a report on Friday, June 27th. Wall Street Zen lowered shares of NIKE from a "hold" rating to a "sell" rating in a report on Friday, June 27th. Royal Bank Of Canada decreased their price objective on shares of NIKE from $66.00 to $65.00 and set a "sector perform" rating on the stock in a report on Tuesday, May 20th. Barclays increased their price objective on shares of NIKE from $53.00 to $64.00 and gave the stock an "equal weight" rating in a report on Friday, June 27th. Finally, Jefferies Financial Group reissued a "buy" rating on shares of NIKE in a report on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, seventeen have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $78.22.

NIKE Company 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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