NIKE, Inc. (NYSE:NKE) Stake Lessened by Victory Capital Management Inc.

Victory Capital Management Inc. lessened its stake in NIKE, Inc. (NYSE:NKE - Free Report) by 53.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 406,985 shares of the footwear maker's stock after selling 461,275 shares during the period. Victory Capital Management Inc.'s holdings in NIKE were worth $25,835,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Brighton Jones LLC grew its holdings in NIKE by 388.5% during the fourth quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker's stock valued at $15,316,000 after purchasing an additional 160,980 shares during the last quarter. Bank Pictet & Cie Europe AG lifted its holdings in shares of NIKE by 10.3% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 190,915 shares of the footwear maker's stock valued at $14,447,000 after acquiring an additional 17,888 shares during the period. Hillsdale Investment Management Inc. raised its holdings in shares of NIKE by 5.0% in the fourth quarter. Hillsdale Investment Management Inc. now owns 8,380 shares of the footwear maker's stock valued at $634,000 after buying an additional 400 shares during the last quarter. Mountain Hill Investment Partners Corp. bought a new position in shares of NIKE in the fourth quarter valued at about $84,000. Finally, Interchange Capital Partners LLC lifted its position in NIKE by 9.3% during the 4th quarter. Interchange Capital Partners LLC now owns 3,656 shares of the footwear maker's stock valued at $277,000 after purchasing an additional 310 shares during the period. Institutional investors own 64.25% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on NKE. Stifel Nicolaus reduced their price objective on NIKE from $75.00 to $64.00 and set a "hold" rating for the company in a research note on Thursday, April 10th. DZ Bank downgraded NIKE from a "buy" rating to a "hold" rating and set a $76.00 price objective for the company. in a research note on Thursday, July 10th. Truist Financial reduced their price objective on NIKE from $82.00 to $73.00 and set a "buy" rating for the company in a research note on Tuesday, June 24th. The Goldman Sachs Group upped their price target on NIKE from $72.00 to $81.00 and gave the company a "buy" rating in a research report on Friday, June 27th. Finally, Wells Fargo & Company upped their price target on NIKE from $55.00 to $60.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 14th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, sixteen have given a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat, NIKE presently has a consensus rating of "Moderate Buy" and an average target price of $77.15.

Insider Activity at NIKE

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $72.29, for a total value of $7,951,900.00. Following the transaction, the chairman owned 842,361 shares of the company's stock, valued at approximately $60,894,276.69. This represents a 11.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.10% of the company's stock.

NIKE Trading Up 2.2%

Shares of NKE opened at $74.07 on Tuesday. The business has a 50-day moving average of $65.49 and a 200 day moving average of $67.17. NIKE, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $90.62. The firm has a market cap of $109.56 billion, a P/E ratio of 34.29, a price-to-earnings-growth ratio of 2.66 and a beta of 1.25. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.50 and a current ratio of 2.21.

NIKE (NYSE:NKE - Get Free Report) last posted its quarterly earnings data 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. The company 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%. NIKE's revenue for the quarter was down 11.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.99 earnings per share. As a group, research analysts forecast that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd were paid a $0.40 dividend. The ex-dividend date was Monday, June 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.16%. NIKE's dividend payout ratio is currently 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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