NIKE, Inc. $NKE Holdings Reduced by The Manufacturers Life Insurance Company

Key Points

• The Manufacturers Life Insurance Company reduced its holdings in NIKE, Inc. by 4.3%, selling 31,222 shares and bringing its total to 695,973 shares valued at $44.18 million.
• NIKE reported a 14 cents EPS for the last quarter, exceeding the consensus estimate of 12 cents, with revenue of $11.10 billion, down 11.9% year over year.
• The company announced a quarterly dividend of $0.40 per share, representing an annualized dividend of $1.60 and a dividend yield of 2.1%.

The Manufacturers Life Insurance Company reduced its position in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 4.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 695,973 shares of the footwear maker's stock after selling 31,222 shares during the period. The Manufacturers Life Insurance Company's holdings in NIKE were worth $44,180,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in NKE. Driehaus Capital Management LLC acquired a new stake in shares of NIKE during the first quarter valued at about $337,000. WPG Advisers LLC acquired a new stake in shares of NIKE during the first quarter valued at about $42,000. Siren L.L.C. acquired a new stake in shares of NIKE during the first quarter valued at about $952,000. Landscape Capital Management L.L.C. grew its stake in shares of NIKE by 229.2% during the first quarter. Landscape Capital Management L.L.C. now owns 82,792 shares of the footwear maker's stock valued at $5,256,000 after acquiring an additional 57,643 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. AG grew its stake in shares of NIKE by 60.5% during the first 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 acquiring an additional 1,005,927 shares in the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at NIKE

In related news, Chairman Mark G. Parker sold 86,078 shares of the business's stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $75.93, for a total transaction of $6,535,902.54. Following the completion of the sale, the chairman owned 744,988 shares of the company's stock, valued at $56,566,938.84. This represents a 10.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.80% of the stock is currently owned by corporate insiders.

NIKE Stock Performance

Shares of NYSE:NKE traded up $0.40 during trading on Wednesday, reaching $74.69. 7,465,443 shares of the company's stock traded hands, compared to its average volume of 8,412,580. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.21 and a quick ratio of 1.50. NIKE, Inc. has a 12 month low of $52.28 and a 12 month high of $90.62. The company has a 50 day moving average of $75.19 and a 200-day moving average of $67.98. The stock has a market capitalization of $110.32 billion, a P/E ratio of 34.58, a price-to-earnings-growth ratio of 2.81 and a beta of 1.24.

NIKE (NYSE:NKE - Get Free Report) last announced its quarterly earnings data on Thursday, June 26th. The footwear maker reported $0.14 earnings per share for the quarter, beating analysts' consensus estimates of $0.12 by $0.02. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The business had revenue of $11.10 billion during the quarter, compared to the consensus estimate of $10.69 billion. During the same quarter in the prior year, the firm earned $0.99 EPS. The company's revenue for the quarter was down 11.9% compared to the same quarter last year. On average, equities analysts expect that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

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

Analysts Set New Price Targets

Several brokerages have recently weighed in on NKE. UBS Group began coverage on NIKE in a research note on Sunday, July 6th. They set a "buy" rating for the company. The Goldman Sachs Group upped their price target on shares of NIKE from $72.00 to $81.00 and gave the company a "buy" rating in a report on Friday, June 27th. HSBC raised shares of NIKE from a "hold" rating to a "buy" rating and set a $80.00 price target on the stock in a report on Friday, June 27th. Truist Financial dropped their target price on shares of NIKE from $82.00 to $73.00 and set a "buy" rating for the company in a research report on Tuesday, June 24th. Finally, Needham & Company LLC boosted their target price on shares of NIKE from $66.00 to $78.00 and gave the stock a "buy" rating in a research report on Friday, June 27th. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and thirteen have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $78.22.

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.