Two Sigma Investments LP Sells 488,503 Shares of NIKE, Inc. (NYSE:NKE)

Two Sigma Investments LP decreased its holdings in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 18.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,095,590 shares of the footwear maker's stock after selling 488,503 shares during the quarter. Two Sigma Investments LP owned 0.14% of NIKE worth $158,573,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wellington Management Group LLP increased its stake in NIKE by 32.4% in the fourth quarter. Wellington Management Group LLP now owns 36,340,736 shares of the footwear maker's stock worth $2,749,903,000 after purchasing an additional 8,898,591 shares during the period. Geode Capital Management LLC increased its stake in NIKE by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 25,376,558 shares of the footwear maker's stock worth $1,915,110,000 after buying an additional 347,178 shares during the period. Capital World Investors increased its stake in NIKE by 10.3% in the 4th quarter. Capital World Investors now owns 24,545,937 shares of the footwear maker's stock worth $1,857,389,000 after buying an additional 2,288,627 shares during the period. Bank of New York Mellon Corp lifted its holdings in NIKE by 18.1% during the 4th quarter. Bank of New York Mellon Corp now owns 20,367,993 shares of the footwear maker's stock valued at $1,541,246,000 after buying an additional 3,121,929 shares in the last quarter. Finally, Norges Bank purchased a new stake in NIKE in the 4th quarter valued at about $1,126,288,000. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Robert Holmes Swan purchased 8,600 shares of the company's stock in a transaction on Friday, April 4th. The shares were acquired at an average price of $58.46 per share, for a total transaction of $502,756.00. Following the purchase, the director now owns 31,983 shares in the company, valued at $1,869,726.18. This trade represents a 36.78% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.10% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on NKE. Stifel Nicolaus decreased their price target on shares of NIKE from $75.00 to $64.00 and set a "hold" rating for the company in a research note on Thursday, April 10th. Citigroup decreased their target price on NIKE from $72.00 to $57.00 and set a "neutral" rating for the company in a research report on Monday, April 28th. Guggenheim reiterated a "buy" rating and issued a $110.00 target price on shares of NIKE in a report on Wednesday, February 12th. Royal Bank of Canada cut their price target on NIKE from $67.00 to $66.00 and set a "sector perform" rating on the stock in a research note on Friday, March 21st. Finally, Piper Sandler decreased their price objective on NIKE from $90.00 to $70.00 and set an "overweight" rating for the company in a report on Friday, April 11th. Seventeen research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, NIKE has an average rating of "Moderate Buy" and an average price target of $80.30.

NIKE Trading Up 1.2%

NIKE stock opened at $63.13 on Monday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. The stock has a market cap of $93.38 billion, a PE ratio of 19.48, a price-to-earnings-growth ratio of 2.52 and a beta of 1.23. The stock has a 50-day moving average of $61.07 and a two-hundred day moving average of $70.66. NIKE, Inc. has a one year low of $52.28 and a one year high of $98.04.

NIKE (NYSE:NKE - Get Free Report) last announced its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, beating the consensus estimate of $0.28 by $0.26. The firm had revenue of $11.27 billion during the quarter, compared to analyst estimates of $11.02 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. NIKE's revenue was down 9.1% on a year-over-year basis. During the same period last year, the firm posted $0.98 EPS. On average, research analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be paid a dividend of $0.40 per share. The ex-dividend date is Monday, June 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.53%. NIKE's payout ratio is currently 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.

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