Legal & General Group Plc Has $714.36 Million Stake in NIKE, Inc. (NYSE:NKE)

Legal & General Group Plc reduced its stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 15.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,440,451 shares of the footwear maker's stock after selling 1,786,792 shares during the quarter. Legal & General Group Plc owned approximately 0.64% of NIKE worth $714,359,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in NKE. Wellington Management Group LLP lifted its holdings in shares of 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 buying an additional 8,898,591 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of 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 in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of 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 acquiring an additional 3,121,929 shares during the last quarter. Norges Bank bought a new position in shares of NIKE in the 4th quarter valued at approximately $1,126,288,000. Finally, Charles Schwab Investment Management Inc. raised its position in shares of NIKE by 7.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 9,205,753 shares of the footwear maker's stock valued at $696,599,000 after purchasing an additional 603,219 shares during the period. 64.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on NKE. Guggenheim reissued a "buy" rating and set a $110.00 target price on shares of NIKE in a research report on Wednesday, February 12th. Telsey Advisory Group restated a "market perform" rating and set a $80.00 target price on shares of NIKE in a research note on Monday, March 17th. Piper Sandler raised NIKE from a "neutral" rating to an "overweight" rating and raised their target price for the company from $72.00 to $90.00 in a report on Friday, January 10th. Royal Bank of Canada cut their price target on NIKE from $67.00 to $66.00 and set a "sector perform" rating for the company in a report on Friday, March 21st. Finally, Robert W. Baird lowered their price objective on shares of NIKE from $105.00 to $99.00 and set an "outperform" rating on the stock in a research note on Friday, March 21st. Fifteen analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, NIKE currently has a consensus rating of "Moderate Buy" and an average price target of $86.96.

Insider Activity at NIKE

In related news, Director Robert Holmes Swan purchased 8,600 shares of the firm's stock in a transaction on Friday, April 4th. The stock was purchased at an average cost of $58.46 per share, for a total transaction of $502,756.00. Following the completion of the purchase, the director now directly 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Mark G. Parker sold 169,732 shares of the company's stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $72.83, for a total value of $12,361,581.56. Following the sale, 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 disclosure for this sale can be found here. 1.10% of the stock is currently owned by insiders.

NIKE Price Performance

Shares of NKE stock traded down $5.11 during trading hours on Thursday, reaching $54.21. 37,714,825 shares of the company were exchanged, compared to its average volume of 13,917,696. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. The company has a market cap of $80.18 billion, a price-to-earnings ratio of 16.80, a P/E/G ratio of 2.52 and a beta of 1.15. The stock's fifty day moving average is $70.93 and its two-hundred day moving average is $75.39. NIKE, Inc. has a fifty-two week low of $52.32 and a fifty-two week 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 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.26. The firm had revenue of $11.27 billion during the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same period in the previous year, the business posted $0.98 EPS. Sell-side analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.60 annualized dividend and a yield of 2.95%. NIKE's dividend payout ratio (DPR) 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.