NIKE, Inc. (NYSE:NKE) Shares Sold by TFG Advisers LLC

TFG Advisers LLC decreased its holdings in NIKE, Inc. (NYSE:NKE) by 12.1% in the third quarter, Holdings Channel reports. The fund owned 5,507 shares of the footwear maker’s stock after selling 755 shares during the period. TFG Advisers LLC’s holdings in NIKE were worth $487,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Longview Partners Guernsey LTD acquired a new position in NIKE during the first quarter worth $533,533,000. Capital World Investors increased its stake in shares of NIKE by 612.2% in the 1st quarter. Capital World Investors now owns 5,185,432 shares of the footwear maker’s stock worth $487,327,000 after acquiring an additional 4,457,376 shares during the last quarter. Jennison Associates LLC raised its holdings in shares of NIKE by 45.6% during the 1st quarter. Jennison Associates LLC now owns 8,859,580 shares of the footwear maker’s stock worth $832,623,000 after acquiring an additional 2,775,510 shares during the period. PineStone Asset Management Inc. boosted its position in shares of NIKE by 138.3% during the 2nd quarter. PineStone Asset Management Inc. now owns 2,715,689 shares of the footwear maker’s stock valued at $204,681,000 after acquiring an additional 1,576,049 shares during the last quarter. Finally, Renaissance Technologies LLC grew its holdings in shares of NIKE by 351.7% in the second quarter. Renaissance Technologies LLC now owns 1,991,519 shares of the footwear maker’s stock valued at $150,101,000 after purchasing an additional 1,550,611 shares during the period. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at NIKE

In related news, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total value of $4,093,986.00. Following the completion of the sale, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at $80,435,628. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.50% of the company’s stock.

NIKE Stock Down 0.8 %

Shares of NKE traded down $0.63 during mid-day trading on Wednesday, reaching $80.79. The company’s stock had a trading volume of 1,182,942 shares, compared to its average volume of 11,608,944. The company’s 50 day moving average is $82.83 and its 200 day moving average is $85.14. The stock has a market cap of $121.94 billion, a PE ratio of 21.83, a price-to-earnings-growth ratio of 1.96 and a beta of 1.02. NIKE, Inc. has a 12-month low of $70.75 and a 12-month high of $123.39. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.18. The business had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $11.64 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The company’s revenue was down 10.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.94 EPS. Equities analysts anticipate that NIKE, Inc. will post 2.8 EPS for the current fiscal year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd were issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 1.83%. The ex-dividend date was Tuesday, September 3rd. NIKE’s payout ratio is 39.68%.

Analysts Set New Price Targets

NKE has been the topic of several recent analyst reports. Truist Financial upgraded shares of NIKE from a “hold” rating to a “buy” rating and boosted their target price for the company from $83.00 to $97.00 in a report on Thursday, October 10th. Piper Sandler reiterated a “neutral” rating and issued a $80.00 price objective on shares of NIKE in a research report on Friday, September 20th. Daiwa America downgraded NIKE from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Wedbush lowered their price target on NIKE from $115.00 to $97.00 and set an “outperform” rating for the company in a report on Friday, June 28th. Finally, Guggenheim reduced their price objective on shares of NIKE from $115.00 to $110.00 and set a “buy” rating on the stock in a report on Wednesday, October 2nd. Fourteen analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $96.56.

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.