Sarasin & Partners LLP Sells 239,035 Shares of NIKE, Inc. (NYSE:NKE)

Sarasin & Partners LLP trimmed its position in NIKE, Inc. (NYSE:NKE - Free Report) by 74.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 80,727 shares of the footwear maker's stock after selling 239,035 shares during the quarter. Sarasin & Partners LLP's holdings in NIKE were worth $5,125,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Renaissance Technologies LLC lifted its position in shares of NIKE by 1,302.7% in the fourth quarter. Renaissance Technologies LLC now owns 2,602,101 shares of the footwear maker's stock valued at $196,901,000 after buying an additional 2,416,601 shares during the last quarter. Capitolis Liquid Global Markets LLC raised its stake in NIKE by 40.9% in the 4th quarter. Capitolis Liquid Global Markets LLC now owns 310,000 shares of the footwear maker's stock valued at $23,458,000 after acquiring an additional 90,000 shares during the period. Janus Henderson Group PLC lifted its holdings in NIKE by 8.3% during the 4th quarter. Janus Henderson Group PLC now owns 6,081,021 shares of the footwear maker's stock valued at $460,160,000 after purchasing an additional 463,470 shares during the last quarter. Markel Group Inc. lifted its holdings in NIKE by 0.8% during the 4th quarter. Markel Group Inc. now owns 432,400 shares of the footwear maker's stock valued at $32,720,000 after purchasing an additional 3,500 shares during the last quarter. Finally, Evergreen Capital Management LLC boosted its position in NIKE by 3.3% during the fourth quarter. Evergreen Capital Management LLC now owns 237,199 shares of the footwear maker's stock worth $18,042,000 after purchasing an additional 7,536 shares during the period. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

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

NIKE Price Performance

NKE traded down $2.36 during trading on Friday, hitting $60.44. 16,491,618 shares of the stock traded hands, compared to its average volume of 15,169,330. The business has a 50 day moving average price of $59.38 and a 200 day moving average price of $68.73. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $98.04. The company has a market cap of $89.40 billion, a price-to-earnings ratio of 18.65, a PEG ratio of 2.52 and a beta of 1.21.

NIKE (NYSE:NKE - Get Free Report) last issued its quarterly 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 company had revenue of $11.27 billion for 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 last year, the company posted $0.98 EPS. Equities research analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be issued a $0.40 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.65%. NIKE's dividend payout ratio (DPR) is currently 53.16%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Piper Sandler dropped their price objective on shares of NIKE from $90.00 to $70.00 and set an "overweight" rating on the stock in a research report on Friday, April 11th. Dbs Bank raised shares of NIKE from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 5th. Telsey Advisory Group cut their price objective on shares of NIKE from $80.00 to $70.00 and set a "market perform" rating for the company in a research report on Tuesday, May 6th. Robert W. Baird decreased their target price on NIKE from $105.00 to $99.00 and set an "outperform" rating on the stock in a research report on Friday, March 21st. Finally, BMO Capital Markets lowered their target price on NIKE from $95.00 to $92.00 and set an "outperform" rating on the stock in a research note on Friday, March 21st. Seventeen investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, NIKE presently has an average rating of "Moderate Buy" and an average price target of $80.26.

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.