NIKE, Inc. (NYSE:NKE) Shares Sold by Legal & General Group Plc

Legal & General Group Plc decreased its position in NIKE, Inc. (NYSE:NKE) by 15.9% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 9,440,451 shares of the footwear maker’s stock after selling 1,786,792 shares during the period. Legal & General Group Plc’s holdings in NIKE were worth $714,359,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. JNBA Financial Advisors lifted its holdings in shares of NIKE by 1.3% in the fourth quarter. JNBA Financial Advisors now owns 10,045 shares of the footwear maker’s stock valued at $760,000 after purchasing an additional 131 shares in the last quarter. Frisch Financial Group Inc. lifted its stake in NIKE by 4.7% in the 3rd quarter. Frisch Financial Group Inc. now owns 3,036 shares of the footwear maker’s stock valued at $269,000 after buying an additional 136 shares in the last quarter. Nations Financial Group Inc. IA ADV grew its holdings in NIKE by 0.7% during the 4th quarter. Nations Financial Group Inc. IA ADV now owns 20,446 shares of the footwear maker’s stock valued at $1,547,000 after buying an additional 136 shares during the last quarter. GAMMA Investing LLC increased its position in NIKE by 1.0% during the fourth quarter. GAMMA Investing LLC now owns 15,014 shares of the footwear maker’s stock worth $1,136,000 after buying an additional 150 shares in the last quarter. Finally, Game Plan Financial Advisors LLC raised its holdings in shares of NIKE by 11.1% in the fourth quarter. Game Plan Financial Advisors LLC now owns 1,500 shares of the footwear maker’s stock worth $114,000 after acquiring an additional 150 shares during the last quarter. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at NIKE

In other news, Chairman Mark G. Parker sold 169,732 shares of the business’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $72.83, for a total value of $12,361,581.56. Following the completion of the sale, the chairman now owns 896,632 shares of the company’s stock, valued at approximately $65,301,708.56. The trade was a 15.92 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

NKE has been the topic of a number of recent research reports. Citigroup lowered shares of NIKE from a “buy” rating to a “neutral” rating and reduced their target price for the company from $102.00 to $72.00 in a report on Friday, February 7th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $80.00 target price on shares of NIKE in a research note on Monday, March 17th. Jefferies Financial Group upgraded NIKE from a “hold” rating to a “buy” rating and boosted their price target for the company from $75.00 to $115.00 in a report on Monday, February 24th. BMO Capital Markets lowered their price objective on NIKE from $95.00 to $92.00 and set an “outperform” rating for the company in a research report on Friday, March 21st. Finally, Piper Sandler upgraded NIKE from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $72.00 to $90.00 in a research report on Friday, January 10th. Fifteen research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, NIKE has an average rating of “Moderate Buy” and a consensus target price of $87.38.

NIKE Stock Performance

NIKE stock opened at $57.17 on Monday. NIKE, Inc. has a 12-month low of $52.50 and a 12-month high of $98.04. 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 capitalization of $84.57 billion, a price-to-earnings ratio of 17.65, a price-to-earnings-growth ratio of 2.52 and a beta of 1.15. The firm’s fifty day moving average price is $72.96 and its 200 day moving average price is $76.27.

NIKE (NYSE:NKE) last released its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, topping the consensus estimate of $0.28 by $0.26. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The business had revenue of $11.27 billion for the quarter, compared to analysts’ expectations of $11.02 billion. During the same quarter in the previous year, the firm posted $0.98 earnings per share. The company’s revenue was down 9.1% compared to the same quarter last year. On average, research analysts forecast that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 3rd were issued a $0.40 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.60 annualized dividend and a yield of 2.80%. NIKE’s dividend payout ratio is presently 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.