Voleon Capital Management LP Sells 11,519 Shares of NIKE, Inc. $NKE

Key Points

• Voleon Capital Management LP reduced its stake in NIKE, Inc. by 48.1% in the first quarter, selling 11,519 shares, and is left with 12,448 shares valued at approximately $790,000.
• Chairman Mark G. Parker sold 110,000 shares of NIKE at an average price of $72.29, marking an 11.55% decrease in his holdings.
• NIKE recently declared a quarterly $0.40 dividend, amounting to a 2.2% dividend yield, with a payout ratio of 74.07%.

Voleon Capital Management LP lessened its holdings in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 48.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,448 shares of the footwear maker's stock after selling 11,519 shares during the quarter. Voleon Capital Management LP's holdings in NIKE were worth $790,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of NKE. Brighton Jones LLC increased its stake in NIKE by 388.5% during the 4th quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker's stock valued at $15,316,000 after purchasing an additional 160,980 shares in the last quarter. Bank Pictet & Cie Europe AG increased its stake in NIKE by 10.3% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 190,915 shares of the footwear maker's stock valued at $14,447,000 after purchasing an additional 17,888 shares in the last quarter. Triumph Capital Management bought a new stake in NIKE during the 4th quarter valued at $215,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in NIKE by 5.3% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 227,177 shares of the footwear maker's stock valued at $17,190,000 after purchasing an additional 11,501 shares in the last quarter. Finally, Minot DeBlois Advisors LLC bought a new stake in NIKE during the 4th quarter valued at $42,000. Institutional investors own 64.25% of the company's stock.

Insider Buying and Selling at NIKE

In related news, Chairman Mark G. Parker sold 110,000 shares of the business's stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $72.29, for a total value of $7,951,900.00. Following the transaction, the chairman directly owned 842,361 shares of the company's stock, valued at approximately $60,894,276.69. The trade was a 11.55% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.80% of the company's stock.

Analyst Ratings Changes

NKE has been the topic of a number of analyst reports. Wells Fargo & Company lifted their price objective on shares of NIKE from $55.00 to $60.00 and gave the stock an "equal weight" rating in a report on Wednesday, May 14th. Telsey Advisory Group reaffirmed a "market perform" rating and set a $70.00 price objective on shares of NIKE in a report on Friday, June 27th. Piper Sandler lifted their price objective on shares of NIKE from $70.00 to $80.00 and gave the stock an "overweight" rating in a report on Friday, June 27th. Jefferies Financial Group reaffirmed a "buy" rating and set a $115.00 price objective on shares of NIKE in a report on Friday, August 22nd. Finally, Truist Financial cut their price objective on shares of NIKE from $82.00 to $73.00 and set a "buy" rating on the stock in a report on Tuesday, June 24th. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and thirteen have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $78.22.

NIKE Price Performance

Shares of NYSE:NKE opened at $73.60 on Wednesday. The company's 50-day moving average is $75.54 and its 200 day moving average is $67.87. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.50 and a current ratio of 2.21. The company has a market capitalization of $108.70 billion, a P/E ratio of 34.07, a price-to-earnings-growth ratio of 2.69 and a beta of 1.24. NIKE, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $90.62.

NIKE (NYSE:NKE - Get Free Report) last issued 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 company had revenue of $11.10 billion for the quarter, compared to the consensus estimate of $10.69 billion. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The firm's quarterly revenue was down 11.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.99 EPS. On average, equities research analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Tuesday, September 2nd. NIKE's payout ratio is 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.

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