Alliancebernstein L.P. Lowers Stock Holdings in NIKE, Inc. (NYSE:NKE)

Alliancebernstein L.P. trimmed its position in NIKE, Inc. (NYSE:NKE - Free Report) by 31.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,138,922 shares of the footwear maker's stock after selling 2,856,326 shares during the quarter. Alliancebernstein L.P. owned 0.42% of NIKE worth $464,532,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. AIA Group Ltd grew its holdings in NIKE by 20.2% during the 4th quarter. AIA Group Ltd now owns 63,800 shares of the footwear maker's stock worth $4,828,000 after acquiring an additional 10,723 shares in the last quarter. 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 worth $2,749,903,000 after purchasing an additional 8,898,591 shares during the period. Partners in Financial Planning bought a new position in shares of NIKE during the fourth quarter valued at approximately $671,000. O Shaughnessy Asset Management LLC boosted its stake in shares of NIKE by 8.9% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 79,896 shares of the footwear maker's stock valued at $6,046,000 after purchasing an additional 6,530 shares in the last quarter. Finally, Inkwell Capital LLC purchased a new position in NIKE during the fourth quarter valued at approximately $2,588,000. Institutional investors own 64.25% of the company's stock.

NIKE Stock Performance

Shares of NKE stock traded up $0.28 during trading hours on Monday, hitting $63.57. The company's stock had a trading volume of 17,383,717 shares, compared to its average volume of 12,948,665. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. The company has a 50 day moving average of $74.01 and a 200 day moving average of $76.82. NIKE, Inc. has a 12-month low of $62.41 and a 12-month high of $98.04. The stock has a market cap of $94.02 billion, a PE ratio of 19.62, a price-to-earnings-growth ratio of 2.52 and a beta of 1.02.

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NIKE (NYSE:NKE - Get Free Report) last posted its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, beating the consensus estimate of $0.28 by $0.26. The company had revenue of $11.27 billion for the quarter, compared to analyst estimates of $11.02 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The firm's revenue was down 9.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.98 earnings per share. On average, sell-side analysts forecast that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.52%. The ex-dividend date of this dividend is Monday, March 3rd. NIKE's dividend payout ratio (DPR) is 53.16%.

Insider Activity at NIKE

In related news, Chairman Mark G. Parker sold 169,732 shares of the firm's stock in a transaction on Friday, February 14th. The shares were sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on NKE shares. Evercore ISI dropped their target price on NIKE from $105.00 to $97.00 and set an "outperform" rating on the stock in a research report on Monday, December 16th. Truist Financial dropped their price objective on NIKE from $90.00 to $82.00 and set a "buy" rating on the stock in a research report on Friday, March 21st. China Renaissance assumed coverage on NIKE in a research note on Wednesday, March 19th. They issued a "hold" rating on the stock. Morgan Stanley decreased their price target on shares of NIKE from $72.00 to $70.00 and set an "equal weight" rating for the company in a research report on Friday, March 21st. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of NIKE from $92.00 to $82.00 and set a "buy" rating on the stock in a research report on Monday, December 16th. 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's stock. Based on data from MarketBeat.com, NIKE presently has a consensus rating of "Moderate Buy" and a consensus target price of $87.38.

About NIKE

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.