Rhumbline Advisers Sells 81,948 Shares of NIKE, Inc. (NYSE:NKE)

Rhumbline Advisers cut its holdings in NIKE, Inc. (NYSE:NKE - Free Report) by 3.5% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,278,898 shares of the footwear maker's stock after selling 81,948 shares during the quarter. Rhumbline Advisers owned approximately 0.15% of NIKE worth $144,664,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in NKE. JNBA Financial Advisors increased its holdings in NIKE by 1.3% in the fourth quarter. JNBA Financial Advisors now owns 10,045 shares of the footwear maker's stock valued at $760,000 after purchasing an additional 131 shares during the period. Nations Financial Group Inc. IA ADV lifted its stake in shares of NIKE by 0.7% in the fourth quarter. Nations Financial Group Inc. IA ADV now owns 20,446 shares of the footwear maker's stock valued at $1,547,000 after buying an additional 136 shares in the last quarter. Elgethun Capital Management raised its stake in shares of NIKE by 13.7% in the fourth quarter. Elgethun Capital Management now owns 1,236 shares of the footwear maker's stock worth $94,000 after purchasing an additional 149 shares during the last quarter. Game Plan Financial Advisors LLC raised its position in NIKE by 11.1% in the 4th quarter. Game Plan Financial Advisors LLC now owns 1,500 shares of the footwear maker's stock valued at $114,000 after buying an additional 150 shares during the last quarter. Finally, AlTi Global Inc. lifted its position in shares of NIKE by 0.4% during the fourth quarter. AlTi Global Inc. now owns 36,996 shares of the footwear maker's stock valued at $2,813,000 after purchasing an additional 150 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at NIKE

In related news, Director Robert Holmes Swan purchased 8,600 shares of the firm's stock in a transaction dated Friday, April 4th. The stock was purchased at an average price of $58.46 per share, with a total value of $502,756.00. Following the completion of the purchase, the director now owns 31,983 shares of the company's stock, valued at approximately $1,869,726.18. The trade was a 36.78% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 1.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on NKE shares. The Goldman Sachs Group decreased their price objective on shares of NIKE from $88.00 to $72.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Jefferies Financial Group reiterated a "buy" rating on shares of NIKE in a research note on Friday, May 23rd. Royal Bank of Canada lowered their target price on shares of NIKE from $66.00 to $65.00 and set a "sector perform" rating on the stock in a research note on Tuesday, May 20th. Robert W. Baird cut their price objective on NIKE from $105.00 to $99.00 and set an "outperform" rating for the company in a report on Friday, March 21st. Finally, Truist Financial decreased their target price on shares of NIKE from $90.00 to $82.00 and set a "buy" rating on the stock in a research report on Friday, March 21st. Seventeen investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $80.26.

NIKE Trading Up 1.2%

Shares of NKE stock traded up $0.75 during trading hours on Thursday, reaching $63.52. 3,672,964 shares of the stock were exchanged, compared to its average volume of 17,223,230. The firm has a market capitalization of $93.96 billion, a price-to-earnings ratio of 19.61, a price-to-earnings-growth ratio of 2.52 and a beta of 1.23. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $98.04. The company's 50-day moving average price is $58.92 and its 200-day moving average price is $69.38. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE - Get Free Report) last announced its earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.26. The business had revenue of $11.27 billion during the quarter, compared to analyst estimates of $11.02 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The company's revenue for the quarter was down 9.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.98 earnings per share. As a group, equities analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.52%. The ex-dividend date of this dividend is Monday, June 2nd. NIKE's dividend payout ratio (DPR) is presently 53.16%.

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.