Stevens Capital Management LP Has $389,000 Stock Holdings in NIKE, Inc. (NYSE:NKE)

Key Points

• Stevens Capital Management LP significantly reduced its holdings in NIKE by 80.3%, owning only 6,127 shares after selling 24,967 shares in the first quarter.
• NIKE reported earnings of $0.14 per share for the last quarter, surpassing analyst expectations and revealing a revenue of $11.10 billion despite a year-over-year decline of 11.9%.
• Analysts have a consensus outlook of "Moderate Buy" for NIKE, with a target price averaging around $77.15 based on various upgrades and downgrades from brokerages.

Stevens Capital Management LP trimmed its position in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 80.3% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,127 shares of the footwear maker's stock after selling 24,967 shares during the quarter. Stevens Capital Management LP's holdings in NIKE were worth $389,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of NKE. Elgethun Capital Management increased 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 valued at $94,000 after acquiring an additional 149 shares during the last quarter. AlTi Global Inc. lifted 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 buying an additional 150 shares during the last quarter. Cohen & Steers Inc. increased its holdings in shares of NIKE by 5.3% in the 4th quarter. Cohen & Steers Inc. now owns 3,171 shares of the footwear maker's stock valued at $240,000 after acquiring an additional 160 shares during the period. Peregrine Asset Advisers Inc. increased its holdings in shares of NIKE by 1.2% in the 1st quarter. Peregrine Asset Advisers Inc. now owns 15,119 shares of the footwear maker's stock valued at $934,000 after acquiring an additional 181 shares during the period. Finally, Aaron Wealth Advisors LLC increased its stake in NIKE by 4.3% in the 1st 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 period. Hedge funds and other institutional investors own 64.25% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on NKE. Williams Trading lowered their price target on shares of NIKE from $93.00 to $73.00 and set a "buy" rating on the stock in a research note on Monday, April 21st. Wells Fargo & Company upped their price objective on shares of NIKE from $55.00 to $60.00 and gave the company an "equal weight" rating in a research note on Wednesday, May 14th. HSBC raised shares of NIKE from a "hold" rating to a "buy" rating and set a $80.00 price objective for the company in a research note on Friday, June 27th. Needham & Company LLC increased their price objective on shares of NIKE from $66.00 to $78.00 and gave the company a "buy" rating in a research report on Friday, June 27th. Finally, Bank of America raised their price target on shares of NIKE from $80.00 to $84.00 and gave the stock a "buy" rating in a research report on Friday, June 27th. One 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's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $78.22.

NIKE Trading Up 3.9%

Shares of NIKE stock traded up $3.00 during trading hours on Monday, hitting $79.27. The company's stock had a trading volume of 22,612,590 shares, compared to its average volume of 17,592,443. The business has a fifty day moving average of $66.81 and a 200 day moving average of $67.29. The company has a market capitalization of $117.07 billion, a PE ratio of 36.70, a P/E/G ratio of 2.80 and a beta of 1.25. NIKE, Inc. has a 1-year low of $52.28 and a 1-year high of $90.62. The company has a quick ratio of 1.50, a current ratio of 2.21 and a debt-to-equity ratio of 0.60.

NIKE (NYSE:NKE - Get Free Report) last released its quarterly 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 company had revenue of $11.10 billion for the quarter, compared to the consensus estimate of $10.69 billion. NIKE had a net margin of 6.95% and a return on equity of 23.33%. NIKE's revenue was down 11.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.99 EPS. As a group, equities analysts forecast that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date was Monday, June 2nd. NIKE's payout ratio is 74.07%.

Insider Buying and Selling at NIKE

In related news, Chairman Mark G. Parker sold 110,000 shares of the company's stock in a transaction on 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 transaction, the chairman directly owned 842,361 shares in the company, valued at $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 available through this link. Insiders own 0.80% of the company's stock.

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.