Davis R M Inc. Cuts Stock Position in NIKE, Inc. (NYSE:NKE)

Davis R M Inc. decreased its holdings in NIKE, Inc. (NYSE:NKE - Free Report) by 15.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 82,257 shares of the footwear maker's stock after selling 14,901 shares during the quarter. Davis R M Inc.'s holdings in NIKE were worth $8,931,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in NKE. Norges Bank bought a new stake in shares of NIKE during the fourth quarter valued at approximately $1,315,097,000. Newport Trust Company LLC bought a new stake in shares of NIKE during the third quarter valued at approximately $679,775,000. Van ECK Associates Corp raised its position in shares of NIKE by 117.0% during the third quarter. Van ECK Associates Corp now owns 2,986,441 shares of the footwear maker's stock valued at $285,564,000 after buying an additional 1,610,273 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of NIKE by 37.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 5,791,531 shares of the footwear maker's stock valued at $553,786,000 after buying an additional 1,583,541 shares during the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC bought a new stake in shares of NIKE during the third quarter valued at approximately $97,724,000. Hedge funds and other institutional investors own 64.25% of the company's stock.

Insider Buying and Selling

In related news, Chairman Mark G. Parker sold 168,378 shares of the company's stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $93.14, for a total value of $15,682,726.92. Following the completion of the sale, the chairman now directly owns 1,102,090 shares of the company's stock, valued at $102,648,662.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Chairman Mark G. Parker sold 168,378 shares of the firm's stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $93.14, for a total value of $15,682,726.92. Following the sale, the chairman now directly owns 1,102,090 shares in the company, valued at approximately $102,648,662.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Johanna Nielsen sold 282 shares of the firm's stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $93.64, for a total transaction of $26,406.48. Following the completion of the sale, the vice president now owns 730 shares in the company, valued at $68,357.20. The disclosure for this sale can be found here. Insiders sold a total of 213,660 shares of company stock valued at $19,946,333 over the last three months. 0.50% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on NKE shares. Truist Financial reiterated a "hold" rating and set a $111.00 price objective on shares of NIKE in a research report on Tuesday, March 19th. Royal Bank of Canada restated a "sector perform" rating and issued a $100.00 price target (down previously from $110.00) on shares of NIKE in a research report on Friday, March 22nd. Stifel Nicolaus reduced their price target on shares of NIKE from $129.00 to $117.00 and set a "buy" rating on the stock in a research report on Friday, March 22nd. Oppenheimer cut shares of NIKE from an "outperform" rating to a "market perform" rating and set a $110.00 price target on the stock. in a research report on Friday, February 16th. Finally, Bank of America upgraded shares of NIKE from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $110.00 to $113.00 in a research report on Thursday, April 11th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-one have assigned a buy rating to the stock. Based on data from MarketBeat.com, NIKE presently has a consensus rating of "Moderate Buy" and a consensus price target of $116.26.

NIKE Stock Down 0.3 %

NYSE:NKE traded down $0.31 during mid-day trading on Wednesday, reaching $92.51. The company's stock had a trading volume of 7,610,495 shares, compared to its average volume of 9,256,364. NIKE, Inc. has a 1 year low of $88.66 and a 1 year high of $123.39. The stock has a fifty day moving average of $93.67 and a 200-day moving average of $102.18. The firm has a market capitalization of $139.62 billion, a PE ratio of 27.30, a price-to-earnings-growth ratio of 1.77 and a beta of 1.07. The company has a quick ratio of 1.89, a current ratio of 2.74 and a debt-to-equity ratio of 0.63.

NIKE (NYSE:NKE - Get Free Report) last released its quarterly earnings data on Thursday, March 21st. The footwear maker reported $0.98 earnings per share for the quarter, topping analysts' consensus estimates of $0.69 by $0.29. NIKE had a net margin of 10.14% and a return on equity of 39.41%. The company had revenue of $12.43 billion during the quarter, compared to analyst estimates of $12.28 billion. Equities research analysts forecast that NIKE, Inc. will post 3.73 earnings per share for the current year.

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date is Monday, June 3rd. NIKE's dividend payout ratio (DPR) is presently 43.53%.

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.