UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 876,451 Shares of NIKE, Inc. (NYSE:NKE)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its holdings in shares of NIKE, Inc. (NYSE:NKE) by 7.8% in the fourth quarter, HoldingsChannel reports. The fund owned 10,293,935 shares of the footwear maker’s stock after selling 876,451 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in NIKE were worth $778,942,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wellington Management Group LLP boosted its holdings in NIKE by 32.4% in the fourth quarter. Wellington Management Group LLP now owns 36,340,736 shares of the footwear maker’s stock worth $2,749,903,000 after acquiring an additional 8,898,591 shares in the last quarter. Geode Capital Management LLC increased its stake in NIKE by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 25,376,558 shares of the footwear maker’s stock valued at $1,915,110,000 after purchasing an additional 347,178 shares in the last quarter. Capital World Investors lifted its stake in shares of NIKE by 10.3% in the fourth quarter. Capital World Investors now owns 24,545,937 shares of the footwear maker’s stock worth $1,857,389,000 after buying an additional 2,288,627 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of NIKE by 18.1% in the fourth quarter. Bank of New York Mellon Corp now owns 20,367,993 shares of the footwear maker’s stock worth $1,541,246,000 after buying an additional 3,121,929 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of NIKE during the fourth quarter valued at approximately $1,126,288,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Insider Buying and Selling at NIKE

In related news, Director Robert Holmes Swan acquired 8,600 shares of the firm’s stock in a transaction that occurred on Friday, April 4th. The stock was purchased at an average cost of $58.46 per share, with a total value of $502,756.00. Following the transaction, the director now directly owns 31,983 shares of the company’s stock, valued at $1,869,726.18. This trade represents a 36.78% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.10% of the stock is currently owned by company insiders.

NIKE Stock Down 1.7%

NYSE NKE opened at $62.03 on Tuesday. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $98.04. The firm has a market capitalization of $91.75 billion, a price-to-earnings ratio of 19.15, a PEG ratio of 2.52 and a beta of 1.23. The company has a fifty day moving average of $60.84 and a two-hundred day moving average of $70.54.

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

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.58%. The ex-dividend date of this dividend is Monday, June 2nd. NIKE’s dividend payout ratio is currently 53.16%.

Analysts Set New Price Targets

NKE has been the subject of a number of recent analyst reports. Barclays decreased their price objective on shares of NIKE from $70.00 to $60.00 and set an “equal weight” rating for the company in a report on Monday, May 12th. Guggenheim reaffirmed a “buy” rating and set a $110.00 price target on shares of NIKE in a report on Wednesday, February 12th. Williams Trading reduced their price objective on NIKE from $93.00 to $73.00 and set a “buy” rating for the company in a report on Monday, April 21st. Bank of America dropped their price target on shares of NIKE from $90.00 to $80.00 and set a “buy” rating on the stock in a report on Friday, April 25th. Finally, Truist Financial decreased their price objective on shares of NIKE from $90.00 to $82.00 and set a “buy” rating for the company in a report on Friday, March 21st. Seventeen equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $80.30.

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.