NIKE, Inc. (NYSE:NKE) Shares Sold by Pacer Advisors Inc.

Key Points

• Pacer Advisors Inc. reduced its holdings in NIKE by 18.5%, selling over 1.26 million shares, and now owns approximately 0.38% of the company valued at $352.87 million.
• Chairman Mark G. Parker sold 110,000 shares of NIKE for nearly $7.95 million, decreasing his position by 11.55%.
• NIKE has announced a quarterly dividend of $0.40 per share, resulting in an annualized yield of 2.12%, with a payout ratio of 74.07%.

Pacer Advisors Inc. trimmed its holdings in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 18.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,558,771 shares of the footwear maker's stock after selling 1,262,499 shares during the period. Pacer Advisors Inc. owned 0.38% of NIKE worth $352,871,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in NKE. Elgethun Capital Management grew its position in shares of NIKE by 13.7% during the fourth quarter. Elgethun Capital Management now owns 1,236 shares of the footwear maker's stock worth $94,000 after acquiring an additional 149 shares during the last quarter. AlTi Global Inc. boosted its stake in 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 during the period. Cohen & Steers Inc. grew its position 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 purchasing an additional 160 shares during the last quarter. Peregrine Asset Advisers Inc. increased its stake in NIKE by 1.2% in the first quarter. Peregrine Asset Advisers Inc. now owns 15,119 shares of the footwear maker's stock valued at $934,000 after purchasing an additional 181 shares during the period. Finally, Aaron Wealth Advisors LLC raised its holdings in shares of NIKE by 4.3% in the first quarter. Aaron Wealth Advisors LLC now owns 4,666 shares of the footwear maker's stock valued at $296,000 after buying an additional 192 shares during the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

Insider Activity at NIKE

In other news, Chairman Mark G. Parker sold 110,000 shares of NIKE 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 completion of the transaction, the chairman directly owned 842,361 shares of the company's stock, valued at approximately $60,894,276.69. The trade was a 11.55% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 1.10% of the company's stock.

NIKE Trading Down 1.6%

NYSE:NKE opened at $75.49 on Friday. NIKE, Inc. has a 12 month low of $52.28 and a 12 month high of $90.62. The business's 50-day moving average is $66.54 and its two-hundred day moving average is $67.32. 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 firm has a market capitalization of $111.66 billion, a PE ratio of 34.95, a price-to-earnings-growth ratio of 2.82 and a beta of 1.25.

NIKE (NYSE:NKE - Get Free Report) last posted its earnings results 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 business had revenue of $11.10 billion for 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 business'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 company posted $0.99 earnings per share. Research analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date of this dividend was Monday, June 2nd. NIKE's dividend payout ratio is presently 74.07%.

Analysts Set New Price Targets

NKE has been the topic of several recent research reports. Robert W. Baird boosted their price target on NIKE from $80.00 to $88.00 and gave the company an "outperform" rating in a research report on Friday, June 27th. Berenberg Bank began coverage on NIKE in a research note on Tuesday, April 15th. They issued a "hold" rating and a $58.00 price target on the stock. Hsbc Global Res upgraded NIKE from a "hold" rating to a "strong-buy" rating in a research report on Friday, June 27th. Argus upgraded shares of NIKE to a "buy" rating in a research report on Sunday, July 6th. Finally, JPMorgan Chase & Co. lifted their price objective on NIKE from $56.00 to $64.00 and gave the stock a "neutral" rating in a report on Friday, June 27th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, sixteen have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, NIKE currently has a consensus rating of "Moderate Buy" and an average target price of $77.15.

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.

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