NIKE, Inc. (NYSE:NKE) Shares Sold by Stonegate Investment Group LLC

Stonegate Investment Group LLC decreased its holdings in NIKE, Inc. (NYSE:NKE - Free Report) by 1.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 663,555 shares of the footwear maker's stock after selling 7,061 shares during the quarter. Stonegate Investment Group LLC's holdings in NIKE were worth $42,122,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on NKE shares. Deutsche Bank Aktiengesellschaft lowered their price target on NIKE from $77.00 to $71.00 and set a "buy" rating for the company in a research report on Friday. Truist Financial decreased their target price on NIKE from $90.00 to $82.00 and set a "buy" rating for the company in a report on Friday, March 21st. Barclays cut their price target on shares of NIKE from $60.00 to $53.00 and set an "equal weight" rating on the stock in a report on Wednesday. UBS Group reduced their price target on shares of NIKE from $73.00 to $66.00 and set a "neutral" rating on the stock in a research report on Friday, March 21st. Finally, Piper Sandler dropped their price objective on shares of NIKE from $90.00 to $70.00 and set an "overweight" rating for the company in a research report on Friday, April 11th. Seventeen investment 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 stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $78.74.

NIKE Stock Up 0.4%

Shares of NIKE stock traded up $0.27 on Friday, hitting $59.78. 19,005,737 shares of the company's stock traded hands, compared to its average volume of 15,291,197. NIKE, Inc. has a 52-week low of $52.28 and a 52-week high of $98.04. 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 stock has a market cap of $88.41 billion, a P/E ratio of 19.86, a PEG ratio of 2.11 and a beta of 1.21. The firm's 50-day moving average is $59.78 and its 200 day moving average is $68.02.

NIKE (NYSE:NKE - Get Free Report) last posted its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.26. NIKE had a net margin of 9.43% and a return on equity of 32.18%. The firm had revenue of $11.27 billion for the quarter, compared to analysts' expectations of $11.02 billion. During the same period in the prior year, the company posted $0.98 earnings per share. The firm's quarterly revenue was down 9.1% on a year-over-year basis. Equities analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.68%. The ex-dividend date of this dividend is Monday, June 2nd. NIKE's payout ratio is currently 53.16%.

Insider Activity

In other news, Director Robert Holmes Swan purchased 8,600 shares of the firm's stock in a transaction that occurred on Friday, April 4th. The stock was acquired at an average cost of $58.46 per share, for a total transaction of $502,756.00. Following the completion of the purchase, the director now owns 31,983 shares of the company's stock, valued at approximately $1,869,726.18. This trade represents a 36.78% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.10% 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.