Ninety One UK Ltd Cuts Stock Holdings in NIKE, Inc. (NYSE:NKE)

Ninety One UK Ltd lessened its holdings in NIKE, Inc. (NYSE:NKE - Free Report) by 5.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 486,715 shares of the footwear maker's stock after selling 25,697 shares during the period. Ninety One UK Ltd's holdings in NIKE were worth $30,897,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Elgethun Capital Management boosted its holdings in NIKE by 13.7% in the 4th quarter. Elgethun Capital Management now owns 1,236 shares of the footwear maker's stock worth $94,000 after buying an additional 149 shares during the last quarter. AlTi Global Inc. boosted its holdings in NIKE by 0.4% in 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. Staley Capital Advisers Inc. boosted its holdings in NIKE by 4.4% in the 4th quarter. Staley Capital Advisers Inc. now owns 3,773 shares of the footwear maker's stock worth $286,000 after buying an additional 160 shares during the last quarter. Cohen & Steers Inc. boosted its holdings in NIKE by 5.3% in the 4th quarter. Cohen & Steers Inc. now owns 3,171 shares of the footwear maker's stock worth $240,000 after buying an additional 160 shares during the last quarter. Finally, Banco de Sabadell S.A boosted its holdings in NIKE by 1.2% in the 4th quarter. Banco de Sabadell S.A now owns 15,966 shares of the footwear maker's stock worth $1,208,000 after buying an additional 188 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently issued reports on NKE. Citigroup lifted their price objective on NIKE from $57.00 to $68.00 and gave the stock a "neutral" rating in a report on Friday, June 27th. Telsey Advisory Group restated a "market perform" rating and set a $70.00 target price on shares of NIKE in a report on Friday, June 27th. Piper Sandler boosted their target price on NIKE from $70.00 to $80.00 and gave the stock an "overweight" rating in a report on Friday, June 27th. Needham & Company LLC boosted their target price on NIKE from $66.00 to $78.00 and gave the stock a "buy" rating in a report on Friday, June 27th. Finally, The Goldman Sachs Group boosted their target price on NIKE from $72.00 to $81.00 and gave the stock a "buy" rating in a report on Friday, June 27th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, sixteen have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $77.19.

NIKE Trading Down 3.4%

NYSE NKE traded down $2.57 on Tuesday, reaching $73.96. The stock had a trading volume of 19,552,909 shares, compared to its average volume of 15,379,925. The firm has a market capitalization of $109.40 billion, a price-to-earnings ratio of 34.24, a P/E/G ratio of 2.77 and a beta of 1.25. 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, Inc. has a 12-month low of $52.28 and a 12-month high of $90.62. The stock has a fifty day moving average price of $62.75 and a two-hundred day moving average price of $67.35.

NIKE (NYSE:NKE - Get Free Report) last announced its earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.12 by $0.02. The company had revenue of $11.10 billion for the quarter, compared to analyst estimates of $10.69 billion. NIKE had a return on equity of 23.33% and a net margin of 6.95%. The firm's quarterly revenue was down 11.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.99 earnings per share. As a group, sell-side analysts forecast that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders 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 2.16%. The ex-dividend date was Monday, June 2nd. NIKE's payout ratio is 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.