Wendell David Associates Inc. Sells 13,239 Shares of NIKE, Inc. (NYSE:NKE)

Wendell David Associates Inc. decreased its holdings in NIKE, Inc. (NYSE:NKE - Free Report) by 8.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 148,904 shares of the footwear maker's stock after selling 13,239 shares during the period. Wendell David Associates Inc.'s holdings in NIKE were worth $9,452,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its stake in NIKE by 32.4% during the fourth quarter. Wellington Management Group LLP now owns 36,340,736 shares of the footwear maker's stock valued at $2,749,903,000 after buying an additional 8,898,591 shares during the last quarter. Geode Capital Management LLC boosted its stake in NIKE by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 25,376,558 shares of the footwear maker's stock valued at $1,915,110,000 after buying an additional 347,178 shares during the last quarter. Capital World Investors boosted its stake in NIKE by 10.3% during the fourth quarter. Capital World Investors now owns 24,545,937 shares of the footwear maker's stock valued at $1,857,389,000 after buying an additional 2,288,627 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in NIKE by 18.1% during the fourth 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 during the last quarter. Finally, Norges Bank bought a new position in NIKE during the fourth quarter valued at approximately $1,126,288,000. 64.25% of the stock is owned by institutional investors.

Analyst Ratings Changes

NKE has been the subject of a number of research reports. Berenberg Bank initiated coverage on NIKE in a research note on Tuesday, April 15th. They set a "hold" rating and a $58.00 price target for the company. Jefferies Financial Group reissued a "buy" rating on shares of NIKE in a research note on Friday, May 23rd. Morgan Stanley decreased their price objective on NIKE from $70.00 to $61.00 and set an "equal weight" rating on the stock in a research report on Tuesday. Truist Financial decreased their price objective on NIKE from $90.00 to $82.00 and set a "buy" rating on the stock in a research report on Friday, March 21st. Finally, Williams Trading decreased their price objective on NIKE from $93.00 to $73.00 and set a "buy" rating on the stock in a research report on Monday, April 21st. Seventeen analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, NIKE currently has an average rating of "Moderate Buy" and a consensus price target of $79.15.

Insiders Place Their Bets

In other news, Director Robert Holmes Swan acquired 8,600 shares of NIKE stock in a transaction on Friday, April 4th. The shares were bought at an average cost of $58.46 per share, for a total transaction of $502,756.00. Following the acquisition, the director now directly owns 31,983 shares of the company's stock, valued at $1,869,726.18. This trade represents a 36.78% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.10% of the stock is currently owned by company insiders.

NIKE Trading Up 0.1%

Shares of NYSE NKE traded up $0.03 during midday trading on Wednesday, hitting $60.03. The company's stock had a trading volume of 3,765,987 shares, compared to its average volume of 15,179,054. The company has a current ratio of 2.19, a quick ratio of 1.52 and a debt-to-equity ratio of 0.57. The business's 50 day moving average is $59.57 and its two-hundred day moving average is $68.42. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $98.04. The firm has a market cap of $88.80 billion, a P/E ratio of 19.95, a price-to-earnings-growth ratio of 2.14 and a beta of 1.21.

NIKE (NYSE:NKE - Get Free Report) last released its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, topping the consensus estimate of $0.28 by $0.26. The company had revenue of $11.27 billion for the quarter, compared to the consensus estimate of $11.02 billion. NIKE had a return on equity of 32.18% and a net margin of 9.43%. NIKE's quarterly revenue was down 9.1% on a year-over-year basis. During the same period last year, the business posted $0.98 EPS. As a group, equities research analysts expect that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be issued a dividend of $0.40 per share. The ex-dividend date is Monday, June 2nd. This represents a $1.60 annualized dividend and a yield of 2.67%. 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.