New England Research & Management Inc. Sells 7,302 Shares of NIKE, Inc. (NYSE:NKE)

New England Research & Management Inc. cut its position in shares of NIKE, Inc. (NYSE:NKE) by 34.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 13,650 shares of the footwear maker’s stock after selling 7,302 shares during the period. New England Research & Management Inc.’s holdings in NIKE were worth $1,283,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in NKE. Norges Bank purchased a new position in shares of NIKE during the 4th quarter worth about $1,315,097,000. Price T Rowe Associates Inc. MD boosted its position in NIKE by 87.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 17,135,431 shares of the footwear maker’s stock valued at $1,860,395,000 after buying an additional 7,996,434 shares during the period. Capital International Investors boosted its position in NIKE by 34.9% in the 4th quarter. Capital International Investors now owns 27,609,613 shares of the footwear maker’s stock valued at $2,997,628,000 after buying an additional 7,143,775 shares during the period. Public Employees Retirement Association of Colorado boosted its position in NIKE by 13,094.2% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 1,563,253 shares of the footwear maker’s stock valued at $169,722,000 after buying an additional 1,551,405 shares during the period. Finally, GUARDCAP ASSET MANAGEMENT Ltd boosted its position in NIKE by 25.5% in the 4th quarter. GUARDCAP ASSET MANAGEMENT Ltd now owns 4,714,494 shares of the footwear maker’s stock valued at $511,853,000 after buying an additional 957,612 shares during the period. 64.25% of the stock is owned by hedge funds and other institutional investors.

NIKE Stock Down 20.0 %

NKE stock opened at $75.37 on Friday. The firm’s fifty day simple moving average is $93.28 and its 200-day simple moving average is $99.15. The company has a market capitalization of $113.76 billion, a P/E ratio of 20.20, a price-to-earnings-growth ratio of 1.79 and a beta of 1.05. 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 12 month low of $74.55 and a 12 month high of $123.39.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, beating the consensus estimate of $0.85 by $0.16. NIKE had a net margin of 11.10% and a return on equity of 42.87%. The business had revenue of $12.60 billion for the quarter, compared to the consensus estimate of $12.86 billion. During the same period in the prior year, the firm earned $0.66 EPS. The business’s revenue for the quarter was down 1.6% on a year-over-year basis. As a group, equities research analysts forecast that NIKE, Inc. will post 3.9 earnings per share for the current year.

NIKE Dividend Announcement

The company 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 yield of 1.96%. The ex-dividend date is Monday, June 3rd. NIKE’s dividend payout ratio (DPR) is presently 39.68%.

Wall Street Analyst Weigh In

Several research firms have issued reports on NKE. Barclays cut shares of NIKE from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $109.00 to $80.00 in a research report on Friday. The Goldman Sachs Group reduced their price target on shares of NIKE from $118.00 to $105.00 and set a “buy” rating for the company in a report on Friday. Truist Financial reduced their price target on shares of NIKE from $99.00 to $81.00 and set a “hold” rating for the company in a report on Friday. Guggenheim reduced their price target on shares of NIKE from $130.00 to $115.00 and set a “buy” rating for the company in a report on Friday. Finally, Wells Fargo & Company reduced their price target on shares of NIKE from $115.00 to $92.00 and set an “overweight” rating for the company in a report on Friday. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $98.96.

Insider Buying and Selling

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

NIKE 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.