NIKE, Inc. (NYSE:NKE) Shares Sold by Penserra Capital Management LLC

Penserra Capital Management LLC decreased its position in NIKE, Inc. (NYSE:NKE - Free Report) by 23.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,212 shares of the footwear maker's stock after selling 4,058 shares during the quarter. Penserra Capital Management LLC's holdings in NIKE were worth $838,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Elgethun Capital Management boosted its position in shares of NIKE by 13.7% during the 4th quarter. Elgethun Capital Management now owns 1,236 shares of the footwear maker's stock worth $94,000 after acquiring an additional 149 shares in the last quarter. AlTi Global Inc. boosted its position in shares of NIKE by 0.4% during the 4th quarter. AlTi Global Inc. now owns 36,996 shares of the footwear maker's stock worth $2,813,000 after acquiring an additional 150 shares in the last quarter. Cohen & Steers Inc. boosted its position in shares of NIKE by 5.3% during the 4th quarter. Cohen & Steers Inc. now owns 3,171 shares of the footwear maker's stock worth $240,000 after acquiring an additional 160 shares in the last quarter. Banco de Sabadell S.A boosted its position in shares of NIKE by 1.2% during the 4th quarter. Banco de Sabadell S.A now owns 15,966 shares of the footwear maker's stock worth $1,208,000 after acquiring an additional 188 shares in the last quarter. Finally, Aaron Wealth Advisors LLC boosted its position in shares of NIKE by 4.3% during the 1st quarter. Aaron Wealth Advisors LLC now owns 4,666 shares of the footwear maker's stock worth $296,000 after acquiring an additional 192 shares in the last quarter. Institutional investors own 64.25% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Berenberg Bank assumed coverage on NIKE in a research report on Tuesday, April 15th. They set a "hold" rating and a $58.00 price objective for the company. Williams Trading reduced their target price on NIKE from $93.00 to $73.00 and set a "buy" rating for the company in a report on Monday, April 21st. China Renaissance assumed coverage on NIKE in a report on Wednesday, March 19th. They issued a "hold" rating for the company. Truist Financial reduced their target price on NIKE from $82.00 to $73.00 and set a "buy" rating for the company in a report on Tuesday, June 24th. Finally, Morgan Stanley boosted their target price on NIKE from $61.00 to $64.00 and gave the company an "equal weight" rating in a report on Friday, June 27th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, sixteen have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, NIKE currently has an average rating of "Moderate Buy" and a consensus target price of $77.15.

NIKE Price Performance

Shares of NKE traded down $1.96 on Friday, reaching $72.66. The stock had a trading volume of 12,749,362 shares, compared to its average volume of 15,235,433. The firm has a market capitalization of $107.47 billion, a PE ratio of 33.64, a PEG ratio of 2.63 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. The firm has a 50-day moving average of $64.06 and a 200 day moving average of $67.33. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $90.62.

NIKE (NYSE:NKE - Get Free Report) last released its quarterly 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 business had revenue of $11.10 billion for the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.99 EPS. Sell-side analysts expect that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date of this dividend was Monday, June 2nd. NIKE's dividend payout ratio (DPR) is presently 74.07%.

NIKE Company 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.