Vanguard Group Inc. Has $7.18 Billion Position in NIKE, Inc. (NYSE:NKE)

Key Points

• Vanguard Group Inc. increased its holdings in NIKE by 4.6%, owning approximately 7.65% of the company, valued at over $7.18 billion.
• Chairman Mark G. Parker sold 110,000 shares of NIKE stock, a transaction worth nearly $8 million, which reduced his holdings by 11.55%.
• NIKE reported a quarterly earnings per share of $0.14, surpassing analyst expectations, despite a 11.9% decline in year-over-year revenue.

Vanguard Group Inc. raised its stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 4.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 113,151,080 shares of the footwear maker's stock after buying an additional 4,957,494 shares during the period. Vanguard Group Inc. owned approximately 7.65% of NIKE worth $7,182,831,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the stock. Goldman Sachs Group Inc. grew its holdings in NIKE by 344.2% during the first quarter. Goldman Sachs Group Inc. now owns 26,698,835 shares of the footwear maker's stock worth $1,694,842,000 after acquiring an additional 20,688,013 shares during the period. Capital World Investors raised its holdings in shares of NIKE by 10.3% in 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. Bank of New York Mellon Corp lifted its stake in NIKE by 3.0% during the first quarter. Bank of New York Mellon Corp now owns 20,988,207 shares of the footwear maker's stock valued at $1,332,331,000 after purchasing an additional 620,214 shares during the last quarter. Northern Trust Corp grew its position in NIKE by 8.8% in the fourth quarter. Northern Trust Corp now owns 14,690,435 shares of the footwear maker's stock worth $1,111,625,000 after buying an additional 1,183,641 shares during the last quarter. Finally, Flossbach Von Storch SE increased its holdings in shares of NIKE by 24.0% in the first quarter. Flossbach Von Storch SE now owns 10,286,619 shares of the footwear maker's stock valued at $652,995,000 after buying an additional 1,988,547 shares in the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

NIKE Stock Performance

NIKE stock traded down $0.18 on Friday, reaching $74.17. 6,733,814 shares of the stock were exchanged, compared to its average volume of 11,448,546. The stock has a market cap of $109.54 billion, a PE ratio of 34.34, a PEG ratio of 2.70 and a beta of 1.27. The firm has a fifty day moving average price of $69.70 and a two-hundred day moving average price of $67.64. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $90.62. The company has a current ratio of 2.21, a quick ratio of 1.50 and a debt-to-equity ratio of 0.60.

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 the consensus estimate of $0.12 by $0.02. The firm had revenue of $11.10 billion during the quarter, compared to the consensus estimate of $10.69 billion. NIKE had a return on equity of 23.33% and a net margin of 6.95%. The firm's revenue for the quarter was down 11.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.99 EPS. Sell-side analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors 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 yield of 2.2%. NIKE's payout ratio is 74.07%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on NKE. Barclays lifted their target price on NIKE from $53.00 to $64.00 and gave the stock an "equal weight" rating in a report on Friday, June 27th. Jefferies Financial Group restated a "buy" rating on shares of NIKE in a report on Friday, May 23rd. Truist Financial decreased their target price on shares of NIKE from $82.00 to $73.00 and set a "buy" rating for the company in a report on Tuesday, June 24th. Wells Fargo & Company boosted their price target on shares of NIKE from $55.00 to $60.00 and gave the company an "equal weight" rating in a report on Wednesday, May 14th. Finally, Stifel Nicolaus reduced their price target on shares of NIKE from $75.00 to $64.00 and set a "hold" rating for the company in a research report on Thursday, April 10th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, seventeen have issued a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $78.22.

Insider Transactions at NIKE

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the 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 completion of the sale, the chairman directly owned 842,361 shares of the company's stock, valued at $60,894,276.69. This 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 link. Company insiders own 0.80% of the company's stock.

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.