Voya Investment Management LLC Increases Position in NIKE, Inc. $NKE

Key Points

• Voya Investment Management LLC has increased its stake in NIKE, Inc. by 1.8%, owning 1,453,473 shares valued at approximately $92.3 million as of the latest reporting period.
• Analysts have varied opinions on NIKE's stock, with targets ranging from $65 to $80, and a consensus rating of "Moderate Buy".
• In a recent insider transaction, Chairman Mark G. Parker sold 86,078 shares for over $6.5 million, reducing his ownership by 10.36%.

Voya Investment Management LLC boosted its holdings in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 1.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,453,473 shares of the footwear maker's stock after acquiring an additional 25,481 shares during the period. Voya Investment Management LLC owned 0.10% of NIKE worth $92,266,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Stone House Investment Management LLC purchased a new stake in NIKE during the 1st quarter valued at about $25,000. Heck Capital Advisors LLC purchased a new stake in shares of NIKE in the 4th quarter valued at approximately $28,000. Saudi Central Bank purchased a new stake in shares of NIKE in the 1st quarter valued at approximately $30,000. Roxbury Financial LLC grew its stake in shares of NIKE by 52.1% in the 1st quarter. Roxbury Financial LLC now owns 587 shares of the footwear maker's stock valued at $37,000 after buying an additional 201 shares during the period. Finally, N.E.W. Advisory Services LLC purchased a new stake in shares of NIKE in the 1st quarter valued at approximately $37,000. Hedge funds and other institutional investors own 64.25% of the company's stock.

Analyst Upgrades and Downgrades

NKE has been the subject of several analyst reports. Evercore ISI dropped their price target on shares of NIKE from $97.00 to $75.00 and set an "outperform" rating for the company in a research note on Tuesday, June 24th. Wall Street Zen raised shares of NIKE from a "sell" rating to a "hold" rating in a research note on Saturday, September 6th. Royal Bank Of Canada dropped their price target on shares of NIKE from $66.00 to $65.00 and set a "sector perform" rating for the company in a research note on Tuesday, May 20th. Morgan Stanley increased their price target on shares of NIKE from $61.00 to $64.00 and gave the company an "equal weight" rating in a research note on Friday, June 27th. Finally, Piper Sandler upped 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. Three research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and eleven have given a Hold rating to the company's stock. According to MarketBeat.com, NIKE has a consensus rating of "Moderate Buy" and an average target price of $78.67.

Insider Transactions at NIKE

In other NIKE news, Chairman Mark G. Parker sold 86,078 shares of the stock in a transaction that occurred on 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 sale, the chairman directly owned 744,988 shares in the company, valued at $56,566,938.84. This represents a 10.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.80% of the stock is currently owned by company insiders.

NIKE Stock Performance

Shares of NKE stock opened at $73.12 on Friday. The firm's 50 day moving average price is $75.40 and its 200-day moving average price is $67.81. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.50 and a current ratio of 2.21. NIKE, Inc. has a one year low of $52.28 and a one year high of $90.62. The firm has a market cap of $107.98 billion, a P/E ratio of 33.85, a P/E/G ratio of 2.70 and a beta of 1.24.

NIKE (NYSE:NKE - Get Free Report) last released its earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share (EPS) 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 analyst estimates 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 prior year, the business earned $0.99 EPS. As a group, equities research analysts predict that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be issued a dividend of $0.40 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.2%. NIKE's dividend payout ratio is 74.07%.

NIKE 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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