Nisa Investment Advisors LLC lessened its stake in NIKE, Inc. (NYSE:NKE - Free Report) by 19.8% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 455,113 shares of the footwear maker's stock after selling 112,178 shares during the quarter. Nisa Investment Advisors LLC's holdings in NIKE were worth $29,073,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently added to or reduced their stakes in NKE. Wellington Management Group LLP grew its holdings in NIKE by 32.4% during 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 acquiring an additional 8,898,591 shares during the period. Geode Capital Management LLC grew its holdings in NIKE by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 25,376,558 shares of the footwear maker's stock worth $1,915,110,000 after acquiring an additional 347,178 shares during the period. Capital World Investors grew its holdings in NIKE by 10.3% during the fourth quarter. Capital World Investors now owns 24,545,937 shares of the footwear maker's stock worth $1,857,389,000 after acquiring an additional 2,288,627 shares during the period. Bank of New York Mellon Corp grew its holdings in NIKE by 3.0% in the first quarter. Bank of New York Mellon Corp now owns 20,988,207 shares of the footwear maker's stock valued at $1,332,331,000 after purchasing an additional 620,214 shares during the last quarter. Finally, Norges Bank acquired a new stake in NIKE in the fourth quarter valued at $1,126,288,000. Hedge funds and other institutional investors own 64.25% of the company's stock.
Wall Street Analyst Weigh In
Several analysts have recently issued reports on the company. Hsbc Global Res upgraded NIKE from a "hold" rating to a "strong-buy" rating in a research report on Friday, June 27th. Berenberg Bank assumed coverage on NIKE in a research report on Tuesday, April 15th. They issued a "hold" rating and a $58.00 price objective on the stock. Cfra Research upgraded NIKE to a "moderate buy" rating in a research report on Friday, March 21st. Truist Financial reduced their price objective on NIKE from $82.00 to $73.00 and set a "buy" rating on the stock in a research report on Tuesday, June 24th. Finally, Needham & Company LLC upped their price objective on NIKE from $66.00 to $78.00 and gave the company a "buy" rating in a research report on Friday, June 27th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, sixteen have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $77.15.
Get Our Latest Stock Report on NIKE
NIKE Price Performance
NKE traded up $1.08 during trading on Thursday, hitting $74.64. 13,032,078 shares of the stock traded hands, compared to its average volume of 15,243,042. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $90.62. The company has a market cap of $110.41 billion, a price-to-earnings ratio of 34.56, a PEG ratio of 2.68 and a beta of 1.25. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.21 and a quick ratio of 1.50. The business has a 50 day moving average price of $63.42 and a 200 day moving average price of $67.44.
NIKE (NYSE:NKE - Get Free Report) last posted its earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share 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 analysts' expectations of $10.69 billion. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The company's revenue was down 11.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.99 earnings per share. Equities research analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.
NIKE Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd were given a dividend of $0.40 per share. The ex-dividend date was Monday, June 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.14%. NIKE's dividend payout ratio (DPR) is currently 74.07%.
About NIKE
(
Free Report)
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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