Stephens Inc. AR Cuts Position in NIKE, Inc. (NYSE:NKE)

Stephens Inc. AR cut its stake in NIKE, Inc. (NYSE:NKEFree Report) by 1.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 52,055 shares of the footwear maker’s stock after selling 836 shares during the quarter. Stephens Inc. AR’s holdings in NIKE were worth $5,652,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Capital International Investors boosted its position in shares of NIKE by 34.9% in the 4th quarter. Capital International Investors now owns 27,609,613 shares of the footwear maker’s stock worth $2,997,628,000 after purchasing an additional 7,143,775 shares in the last quarter. FMR LLC lifted its position in NIKE by 0.7% during the 3rd quarter. FMR LLC now owns 18,502,409 shares of the footwear maker’s stock worth $1,769,200,000 after acquiring an additional 125,746 shares during the period. Northern Trust Corp lifted its position in NIKE by 4.5% during the 3rd quarter. Northern Trust Corp now owns 15,557,676 shares of the footwear maker’s stock worth $1,487,625,000 after acquiring an additional 674,198 shares during the period. Norges Bank acquired a new stake in NIKE during the 4th quarter worth about $1,315,097,000. Finally, Fisher Asset Management LLC lifted its position in NIKE by 2.3% during the 4th quarter. Fisher Asset Management LLC now owns 9,887,769 shares of the footwear maker’s stock worth $1,073,515,000 after acquiring an additional 219,091 shares during the period. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NKE has been the subject of several analyst reports. Truist Financial reissued a “hold” rating and issued a $111.00 price objective on shares of NIKE in a report on Tuesday, March 19th. Wells Fargo & Company cut their price target on NIKE from $125.00 to $120.00 and set an “overweight” rating for the company in a research note on Friday, March 22nd. Sanford C. Bernstein cut their price target on NIKE from $134.00 to $120.00 and set an “outperform” rating for the company in a research note on Friday, March 22nd. Williams Trading reiterated a “sell” rating and set a $85.00 price objective (down from $92.00) on shares of NIKE in a research note on Monday, March 18th. Finally, Oppenheimer lowered NIKE from an “outperform” rating to a “market perform” rating and set a $110.00 price objective for the company. in a research note on Friday, February 16th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and twenty have assigned a buy rating to the company’s stock. According to data from MarketBeat, NIKE presently has an average rating of “Moderate Buy” and an average target price of $116.26.

Read Our Latest Research Report on NKE

NIKE Stock Performance

Shares of NKE traded up $2.04 during midday trading on Friday, reaching $97.76. 3,582,103 shares of the stock were exchanged, compared to its average volume of 9,175,584. The business’s 50-day moving average price is $92.66 and its 200 day moving average price is $101.10. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.74 and a quick ratio of 1.89. NIKE, Inc. has a twelve month low of $88.66 and a twelve month high of $123.39. The company has a market capitalization of $147.56 billion, a price-to-earnings ratio of 28.58, a PEG ratio of 1.72 and a beta of 1.05.

NIKE (NYSE:NKEGet Free Report) last posted its earnings results on Thursday, March 21st. The footwear maker reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.29. NIKE had a return on equity of 39.41% and a net margin of 10.14%. The business had revenue of $12.43 billion for the quarter, compared to analysts’ expectations of $12.28 billion. On average, sell-side analysts expect that NIKE, Inc. will post 3.73 EPS for the current fiscal year.

NIKE Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date is Monday, June 3rd. NIKE’s dividend payout ratio is currently 43.53%.

Insider Buying and Selling

In related news, Chairman Mark G. Parker sold 168,378 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $93.14, for a total transaction of $15,682,726.92. Following the transaction, the chairman now owns 1,102,090 shares of the company’s stock, valued at $102,648,662.60. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other NIKE news, EVP Monique S. Matheson sold 45,000 shares of NIKE stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $94.16, for a total value of $4,237,200.00. Following the sale, the executive vice president now owns 44,997 shares of the company’s stock, valued at approximately $4,236,917.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Mark G. Parker sold 168,378 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The stock was 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 disclosure for this sale can be found here. Insiders have sold a total of 213,660 shares of company stock valued at $19,946,333 over the last quarter. 0.50% of the stock is currently owned by insiders.

About NIKE

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for NIKE (NYSE:NKE)

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