Axa S.A. Sells 67,659 Shares of NIKE, Inc. (NYSE:NKE)

AXA S.A. cut its stake in NIKE, Inc. (NYSE:NKE - Free Report) by 19.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 282,449 shares of the footwear maker's stock after selling 67,659 shares during the period. AXA S.A.'s holdings in NIKE were worth $21,373,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in NKE. Wellington Management Group LLP boosted its stake in NIKE by 32.4% during the 4th quarter. Wellington Management Group LLP now owns 36,340,736 shares of the footwear maker's stock valued at $2,749,903,000 after purchasing an additional 8,898,591 shares during the period. Geode Capital Management LLC boosted its position in NIKE by 1.4% during 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 acquiring an additional 347,178 shares during the period. Capital World Investors increased its holdings in shares of 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 purchasing an additional 2,288,627 shares during the period. Bank of New York Mellon Corp lifted its holdings in NIKE by 18.1% in the fourth quarter. Bank of New York Mellon Corp now owns 20,367,993 shares of the footwear maker's stock worth $1,541,246,000 after purchasing an additional 3,121,929 shares during the period. Finally, Norges Bank acquired a new position in NIKE during the 4th quarter valued at about $1,126,288,000. 64.25% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

NKE has been the subject of several recent analyst reports. UBS Group decreased their price objective on shares of NIKE from $73.00 to $66.00 and set a "neutral" rating for the company in a report on Friday, March 21st. BMO Capital Markets decreased their target price on NIKE from $95.00 to $92.00 and set an "outperform" rating for the company in a research note on Friday, March 21st. The Goldman Sachs Group cut their price target on shares of NIKE from $88.00 to $72.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Robert W. Baird dropped their target price on shares of NIKE from $105.00 to $99.00 and set an "outperform" rating on the stock in a report on Friday, March 21st. Finally, Truist Financial reduced their target price on shares of NIKE from $90.00 to $82.00 and set a "buy" rating for the company in a report on Friday, March 21st. Seventeen analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, NIKE has a consensus rating of "Moderate Buy" and a consensus target price of $80.48.

Insider Transactions at NIKE

In other news, Chairman Mark G. Parker sold 169,732 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the completion of the transaction, the chairman now owns 896,632 shares in the company, valued at approximately $65,301,708.56. This represents a 15.92 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert Holmes Swan acquired 8,600 shares of the firm's stock in a transaction that occurred on Friday, April 4th. The stock was purchased at an average cost of $58.46 per share, with a total value of $502,756.00. Following the acquisition, the director now owns 31,983 shares in the company, valued at $1,869,726.18. The trade was a 36.78 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.10% of the company's stock.

NIKE Trading Down 1.0 %

NYSE:NKE traded down $0.56 during mid-day trading on Friday, hitting $58.35. 13,912,960 shares of the company's stock were exchanged, compared to its average volume of 14,659,538. The firm has a market capitalization of $86.31 billion, a P/E ratio of 18.01, a PEG ratio of 2.52 and a beta of 1.23. The company has a 50 day simple moving average of $62.90 and a 200-day simple moving average of $71.47. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $98.04.

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, beating the consensus estimate of $0.28 by $0.26. The firm had revenue of $11.27 billion during the quarter, compared to the consensus estimate of $11.02 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The company's quarterly revenue was down 9.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.98 earnings per share. As a group, research analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.74%. NIKE's payout ratio is 53.16%.

About NIKE

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.