NIKE, Inc. (NYSE:NKE) Shares Sold by Freestone Capital Holdings LLC

Key Points

• Freestone Capital Holdings LLC sold 3,944 shares of NIKE, reducing its holdings by 0.8%, while the total value of its investments in NIKE was approximately $32.7 million as of the latest SEC filing.
• Goldman Sachs Group Inc. significantly increased its stake in NIKE by 344.2% to nearly $1.7 billion, reflecting a strong confidence in the stock's potential.
• NIKE recently announced a quarterly dividend of $0.40, yielding approximately 2.1%, with an ex-dividend date set for September 2nd.

Freestone Capital Holdings LLC trimmed its holdings in NIKE, Inc. (NYSE:NKE - Free Report) by 0.8% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 515,163 shares of the footwear maker's stock after selling 3,944 shares during the period. NIKE accounts for about 1.2% of Freestone Capital Holdings LLC's holdings, making the stock its 16th biggest holding. Freestone Capital Holdings LLC's holdings in NIKE were worth $32,703,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Goldman Sachs Group Inc. increased its position 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 purchasing an additional 20,688,013 shares during the last quarter. Jennison Associates LLC acquired a new stake in NIKE during the first quarter worth about $509,051,000. Nuveen LLC acquired a new stake in NIKE during the first quarter worth about $502,285,000. Vanguard Group Inc. increased its position in NIKE by 4.6% during the first quarter. Vanguard Group Inc. now owns 113,151,080 shares of the footwear maker's stock worth $7,182,831,000 after purchasing an additional 4,957,494 shares during the last quarter. Finally, Capital World Investors increased its position in NIKE by 10.3% during the fourth 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 during the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NKE has been the subject of a number of recent analyst reports. The Goldman Sachs Group lifted their price target on shares of NIKE from $72.00 to $81.00 and gave the company a "buy" rating in a research report on Friday, June 27th. Bank of America lifted their price target on shares of NIKE from $80.00 to $84.00 and gave the company a "buy" rating in a research report on Friday, June 27th. HSBC upgraded shares of NIKE from a "hold" rating to a "buy" rating and set a $80.00 price target for the company in a research report on Friday, June 27th. Jefferies Financial Group reiterated a "buy" rating on shares of NIKE in a research report on Friday, May 23rd. Finally, Truist Financial dropped their price target on shares of NIKE from $82.00 to $73.00 and set a "buy" rating for the company in a research report on Tuesday, June 24th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, seventeen have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $78.22.

Insider Transactions at NIKE

In other NIKE 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 value of $7,951,900.00. Following the transaction, the chairman directly owned 842,361 shares in the company, valued at approximately $60,894,276.69. This represents a 11.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.80% of the company's stock.

NIKE Price Performance

NYSE:NKE opened at $77.17 on Friday. The firm has a market cap of $113.97 billion, a price-to-earnings ratio of 35.73, a price-to-earnings-growth ratio of 2.80 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 company's 50-day moving average is $71.05 and its two-hundred day moving average is $67.63. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $90.62.

NIKE (NYSE:NKE - Get Free Report) last released 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 for the quarter, compared to analyst estimates of $10.69 billion. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The firm's quarterly revenue was down 11.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.99 EPS. Research analysts expect that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Tuesday, September 2nd. NIKE's dividend payout ratio is 74.07%.

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.

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