OMERS ADMINISTRATION Corp Reduces Holdings in NIKE, Inc. $NKE

Key Points

• OMERS ADMINISTRATION Corp has reduced its holdings in NIKE, Inc. by 13.4%, selling 7,042 shares, and now owns 45,328 shares valued at approximately $2.87 million.
• Several institutional investors have adjusted their positions in NIKE, with B. Metzler seel. Sohn & Co. AG increasing its stake by 60.5% during the same period.
• NIKE has reported quarterly earnings of $0.14 EPS, surpassing estimates, although revenue has decreased by 11.9% year-over-year.

OMERS ADMINISTRATION Corp trimmed its stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 13.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 45,328 shares of the footwear maker's stock after selling 7,042 shares during the quarter. OMERS ADMINISTRATION Corp's holdings in NIKE were worth $2,877,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. B. Metzler seel. Sohn & Co. AG raised its stake in shares of NIKE by 60.5% during the 1st quarter. B. Metzler seel. Sohn & Co. AG now owns 2,668,211 shares of the footwear maker's stock valued at $169,378,000 after purchasing an additional 1,005,927 shares during the period. CreativeOne Wealth LLC raised its stake in shares of NIKE by 19.2% during the 1st quarter. CreativeOne Wealth LLC now owns 29,247 shares of the footwear maker's stock valued at $1,857,000 after purchasing an additional 4,714 shares during the period. TCM Advisors LLC raised its stake in shares of NIKE by 3.6% during the 1st quarter. TCM Advisors LLC now owns 11,500 shares of the footwear maker's stock valued at $730,000 after purchasing an additional 400 shares during the period. Gamco Investors INC. ET AL bought a new stake in shares of NIKE during the 1st quarter valued at $329,000. Finally, Samalin Investment Counsel LLC raised its stake in shares of NIKE by 74.4% during the 1st quarter. Samalin Investment Counsel LLC now owns 5,304 shares of the footwear maker's stock valued at $337,000 after purchasing an additional 2,263 shares during the period. 64.25% of the stock is currently owned by institutional investors.

NIKE Price Performance

Shares of NIKE stock opened at $77.34 on Friday. The company has a current ratio of 2.21, a quick ratio of 1.50 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $114.22 billion, a PE ratio of 35.81, a price-to-earnings-growth ratio of 2.83 and a beta of 1.27. The business's 50-day moving average price is $74.32 and its 200-day moving average price is $67.93. NIKE, Inc. has a 12 month low of $52.28 and a 12 month high of $90.62.

NIKE (NYSE:NKE - Get Free Report) last announced its quarterly earnings data on Thursday, June 26th. The footwear maker reported $0.14 EPS for the quarter, beating the consensus estimate of $0.12 by $0.02. The firm 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 company's revenue was down 11.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.99 EPS. Sell-side analysts forecast that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd will be given a dividend of $0.40 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.1%. NIKE's dividend payout ratio is 74.07%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on NKE. Piper Sandler boosted their price objective on NIKE from $70.00 to $80.00 and gave the company an "overweight" rating in a research note on Friday, June 27th. Truist Financial decreased their target price on NIKE from $82.00 to $73.00 and set a "buy" rating on the stock in a research note on Tuesday, June 24th. Robert W. Baird upped their target price on NIKE from $80.00 to $88.00 and gave the stock an "outperform" rating in a research note on Friday, June 27th. Telsey Advisory Group restated a "market perform" rating and issued a $70.00 target price on shares of NIKE in a research note on Friday, June 27th. Finally, Jefferies Financial Group restated a "buy" rating and issued a $115.00 target price on shares of NIKE in a research note on Friday, August 22nd. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and thirteen have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $78.22.

Insider Activity at NIKE

In other 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 transaction of $7,951,900.00. Following the transaction, the chairman directly owned 842,361 shares in the company, valued at approximately $60,894,276.69. This represents a 11.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.80% of the company's stock.

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.

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