BI Asset Management Fondsmaeglerselskab A S Sells 4,130 Shares of NIKE, Inc. $NKE

BI Asset Management Fondsmaeglerselskab A S reduced its position in shares of NIKE, Inc. (NYSE:NKE) by 9.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 40,257 shares of the footwear maker’s stock after selling 4,130 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in NIKE were worth $2,556,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in NKE. Legacy Financial Advisors Inc. increased its holdings in shares of NIKE by 5.1% during the first quarter. Legacy Financial Advisors Inc. now owns 15,008 shares of the footwear maker’s stock worth $953,000 after buying an additional 729 shares in the last quarter. Texas Capital Bancshares Inc TX boosted its holdings in shares of NIKE by 5.4% in the 1st quarter. Texas Capital Bancshares Inc TX now owns 8,760 shares of the footwear maker’s stock worth $556,000 after acquiring an additional 448 shares in the last quarter. Texas Capital Bank Wealth Management Services Inc grew its position in NIKE by 28.4% during the 1st quarter. Texas Capital Bank Wealth Management Services Inc now owns 104,192 shares of the footwear maker’s stock worth $6,614,000 after acquiring an additional 23,072 shares during the last quarter. Colonial Trust Advisors increased its holdings in NIKE by 6.3% during the 1st quarter. Colonial Trust Advisors now owns 112,958 shares of the footwear maker’s stock valued at $7,171,000 after purchasing an additional 6,691 shares in the last quarter. Finally, Wellington Management Group LLP raised its position in NIKE by 24.9% in the 1st quarter. Wellington Management Group LLP now owns 45,383,916 shares of the footwear maker’s stock valued at $2,880,971,000 after purchasing an additional 9,043,180 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently commented on the company. Truist Financial decreased their target price on NIKE from $82.00 to $73.00 and set a “buy” rating on the stock in a report on Tuesday, June 24th. HSBC upgraded shares of NIKE from a “hold” rating to a “buy” rating and set a $80.00 price objective for the company in a research report on Friday, June 27th. JPMorgan Chase & Co. upgraded shares of NIKE from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $64.00 to $93.00 in a research report on Monday, July 28th. Morgan Stanley increased their price target on shares of NIKE from $61.00 to $64.00 and gave the company an “equal weight” rating in a research note on Friday, June 27th. Finally, Royal Bank Of Canada lowered their price target on shares of NIKE from $66.00 to $65.00 and set a “sector perform” rating for the company in a report on Tuesday, May 20th. Three analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat, NIKE currently has an average rating of “Moderate Buy” and a consensus price target of $78.22.

NIKE Price Performance

NKE opened at $76.1760 on Thursday. The company has a fifty day moving average price of $71.88 and a two-hundred day moving average price of $67.69. The firm has a market capitalization of $112.50 billion, a PE ratio of 35.27, a P/E/G ratio of 2.79 and a beta of 1.27. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $90.62. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.50 and a current ratio of 2.21.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.02. NIKE had a return on equity of 23.33% and a net margin of 6.95%.The company had revenue of $11.10 billion for the quarter, compared to the consensus estimate of $10.69 billion. During the same quarter in the prior year, the business posted $0.99 EPS. The firm’s quarterly revenue was down 11.9% on a year-over-year basis. As a group, analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be issued a dividend of $0.40 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.1%. NIKE’s dividend payout ratio (DPR) is 74.07%.

Insider Activity

In other news, Chairman Mark G. Parker sold 110,000 shares of the company’s stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $72.29, for a total value of $7,951,900.00. Following the completion of the sale, the chairman directly owned 842,361 shares of the company’s stock, valued at $60,894,276.69. This represents a 11.55% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.80% of the company’s stock.

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.