Chevy Chase Trust Holdings LLC Sells 16,801 Shares of NIKE, Inc. (NYSE:NKE)

Chevy Chase Trust Holdings LLC cut its holdings in NIKE, Inc. (NYSE:NKE - Free Report) by 2.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 814,794 shares of the footwear maker's stock after selling 16,801 shares during the quarter. Chevy Chase Trust Holdings LLC owned approximately 0.06% of NIKE worth $51,723,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of NKE. Norges Bank bought a new stake in shares of NIKE in the 4th quarter worth approximately $1,126,288,000. Wellington Management Group LLP raised its stake in NIKE by 32.4% during the fourth quarter. Wellington Management Group LLP now owns 36,340,736 shares of the footwear maker's stock valued at $2,749,903,000 after buying an additional 8,898,591 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in NIKE by 18.1% in the fourth quarter. Bank of New York Mellon Corp now owns 20,367,993 shares of the footwear maker's stock worth $1,541,246,000 after acquiring an additional 3,121,929 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of NIKE by 1,302.7% in the fourth quarter. Renaissance Technologies LLC now owns 2,602,101 shares of the footwear maker's stock worth $196,901,000 after acquiring an additional 2,416,601 shares during the last quarter. Finally, Capital World Investors increased its holdings in shares of NIKE by 10.3% during the fourth quarter. Capital World Investors now owns 24,545,937 shares of the footwear maker's stock valued at $1,857,389,000 after acquiring an additional 2,288,627 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors.

NIKE Price Performance

NYSE:NKE traded up $1.88 during trading hours on Thursday, hitting $62.71. 34,370,648 shares of the stock traded hands, compared to its average volume of 15,414,619. The stock has a 50 day moving average price of $60.17 and a 200 day moving average price of $67.73. The company has a quick ratio of 1.52, a current ratio of 2.19 and a debt-to-equity ratio of 0.57. The company has a market cap of $92.75 billion, a price-to-earnings ratio of 20.83, a price-to-earnings-growth ratio of 2.21 and a beta of 1.21. NIKE, Inc. has a 1 year low of $52.28 and a 1 year high of $94.74.

NIKE (NYSE:NKE - Get Free Report) last issued its earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.02. NIKE had a net margin of 9.43% and a return on equity of 32.18%. The company had revenue of $11.10 billion during the quarter, compared to the consensus estimate of $10.69 billion. During the same quarter in the prior year, the firm posted $0.99 EPS. Sell-side analysts forecast 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 Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be paid a $0.40 dividend. The ex-dividend date is Monday, June 2nd. This represents a $1.60 annualized dividend and a yield of 2.55%. NIKE's payout ratio is 53.16%.

Insider Buying and Selling at NIKE

In other news, Director Robert Holmes Swan acquired 8,600 shares of the business's stock in a transaction dated Friday, April 4th. The stock was purchased at an average price of $58.46 per share, for a total transaction of $502,756.00. Following the completion of the transaction, the director now directly owns 31,983 shares in the company, valued at approximately $1,869,726.18. This trade represents a 36.78% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.10% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on NKE shares. Piper Sandler dropped their price target on shares of NIKE from $90.00 to $70.00 and set an "overweight" rating on the stock in a research note on Friday, April 11th. Dbs Bank upgraded shares of NIKE from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 5th. Cfra Research raised shares of NIKE to a "moderate buy" rating in a research report on Friday, March 21st. Stifel Nicolaus decreased their price objective on shares of NIKE from $75.00 to $64.00 and set a "hold" rating for the company in a report on Thursday, April 10th. Finally, The Goldman Sachs Group cut their target price on NIKE from $88.00 to $72.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Sixteen research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, NIKE has an average rating of "Moderate Buy" and a consensus target price of $77.59.

About NIKE

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.