NIKE, Inc. (NYSE:NKE) Position Decreased by Neuberger Berman Group LLC

Neuberger Berman Group LLC reduced its holdings in NIKE, Inc. (NYSE:NKE) by 8.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,259,830 shares of the footwear maker’s stock after selling 202,746 shares during the quarter. Neuberger Berman Group LLC owned 0.15% of NIKE worth $171,000,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Norges Bank purchased a new stake in shares of NIKE during the fourth quarter valued at $1,126,288,000. Wellington Management Group LLP lifted its position in shares of NIKE by 32.4% in the 4th quarter. Wellington Management Group LLP now owns 36,340,736 shares of the footwear maker’s stock valued at $2,749,903,000 after acquiring an additional 8,898,591 shares in the last quarter. Pacer Advisors Inc. grew its position in NIKE by 6,029.6% during the 4th quarter. Pacer Advisors Inc. now owns 6,821,270 shares of the footwear maker’s stock worth $516,166,000 after purchasing an additional 6,709,985 shares in the last quarter. Bank of New York Mellon Corp raised its stake in NIKE by 18.1% during the 4th quarter. Bank of New York Mellon Corp now owns 20,367,993 shares of the footwear maker’s stock valued at $1,541,246,000 after purchasing an additional 3,121,929 shares during the period. Finally, Renaissance Technologies LLC raised its stake in NIKE by 1,302.7% during the 4th quarter. Renaissance Technologies LLC now owns 2,602,101 shares of the footwear maker’s stock valued at $196,901,000 after purchasing an additional 2,416,601 shares during the period. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Trading Up 11.5 %

Shares of NYSE:NKE opened at $59.40 on Thursday. The company’s 50-day moving average price is $70.93 and its two-hundred day moving average price is $75.39. NIKE, Inc. has a one year low of $52.37 and a one year high of $98.04. The stock has a market capitalization of $87.86 billion, a PE ratio of 18.33, a price-to-earnings-growth ratio of 2.52 and a beta of 1.15. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51.

NIKE (NYSE:NKE) last announced its 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. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The company had revenue of $11.27 billion during the quarter, compared to analysts’ expectations of $11.02 billion. During the same quarter in the previous year, the business posted $0.98 earnings per share. NIKE’s quarterly revenue was down 9.1% on a year-over-year basis. On average, equities analysts forecast that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date was Monday, March 3rd. NIKE’s dividend payout ratio (DPR) is 53.16%.

Wall Street Analyst Weigh In

NKE has been the subject of a number of research reports. Truist Financial decreased their price objective on NIKE from $90.00 to $82.00 and set a “buy” rating for the company in a research report on Friday, March 21st. Telsey Advisory Group reaffirmed a “market perform” rating and set a $80.00 price objective on shares of NIKE in a research report on Monday, March 17th. China Renaissance began coverage on shares of NIKE in a research note on Wednesday, March 19th. They issued a “hold” rating on the stock. Morgan Stanley lowered their price target on shares of NIKE from $72.00 to $70.00 and set an “equal weight” rating on the stock in a report on Friday, March 21st. Finally, Guggenheim reaffirmed a “buy” rating and issued a $110.00 target price on shares of NIKE in a research report on Wednesday, February 12th. Fifteen equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $87.38.

Insider Transactions at NIKE

In related news, Director Robert Holmes Swan bought 8,600 shares of NIKE stock in a transaction on Friday, April 4th. The stock was acquired at an average price of $58.46 per share, with a total value of $502,756.00. Following the acquisition, the director now directly owns 31,983 shares of the company’s stock, valued at $1,869,726.18. This represents a 36.78 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Mark G. Parker sold 169,732 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the completion of the transaction, the chairman now owns 896,632 shares in the company, valued at approximately $65,301,708.56. This trade represents a 15.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.10% 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.