Calamos Advisors LLC Trims Holdings in NIKE, Inc. (NYSE:NKE)

Calamos Advisors LLC decreased its stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 22.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 270,408 shares of the footwear maker's stock after selling 79,490 shares during the period. Calamos Advisors LLC's holdings in NIKE were worth $17,166,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank purchased a new stake in shares of NIKE during the 4th quarter valued at about $1,126,288,000. Wellington Management Group LLP grew its stake in NIKE by 32.4% in the fourth quarter. Wellington Management Group LLP now owns 36,340,736 shares of the footwear maker's stock worth $2,749,903,000 after purchasing an additional 8,898,591 shares in the last quarter. Renaissance Technologies LLC lifted its stake in NIKE by 1,302.7% during the fourth quarter. Renaissance Technologies LLC now owns 2,602,101 shares of the footwear maker's stock worth $196,901,000 after purchasing an additional 2,416,601 shares during the last quarter. Capital World Investors raised its position in shares of NIKE by 10.3% during the 4th 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 period. Finally, Raymond James Financial Inc. acquired a new position in shares of NIKE during the fourth quarter valued at $156,438,000. Hedge funds and other institutional investors own 64.25% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Piper Sandler raised their price target on NIKE from $70.00 to $80.00 and gave the company an "overweight" rating in a report on Friday, June 27th. Barclays upped their target price on NIKE from $53.00 to $64.00 and gave the company an "equal weight" rating in a report on Friday, June 27th. Robert W. Baird lifted their price objective on shares of NIKE from $80.00 to $88.00 and gave the stock an "outperform" rating in a research report on Friday, June 27th. HSBC upgraded NIKE from a "hold" rating to a "buy" rating and set a $80.00 target price on the stock in a report on Friday, June 27th. Finally, Hsbc Global Res raised NIKE from a "hold" rating to a "strong-buy" rating in a research report on Friday, June 27th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, fifteen have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $77.19.

NIKE Stock Performance

NYSE:NKE traded down $0.11 during trading hours on Friday, reaching $76.28. The stock had a trading volume of 12,022,568 shares, compared to its average volume of 15,372,369. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $90.62. The stock has a 50 day simple moving average of $62.36 and a 200 day simple moving average of $67.49. The stock has a market cap of $112.83 billion, a P/E ratio of 35.31, a price-to-earnings-growth ratio of 2.77 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 announced its quarterly earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.12 by $0.02. The firm 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%. The company's revenue for the quarter was down 11.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.99 earnings per share. On average, research analysts forecast that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Monday, June 2nd were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date of this dividend was Monday, June 2nd. NIKE's payout ratio is presently 74.07%.

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.