Bessemer Group Inc. Trims Position in NIKE, Inc. (NYSE:NKE)

Bessemer Group Inc. lessened its holdings in NIKE, Inc. (NYSE:NKE - Free Report) by 4.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 774,428 shares of the footwear maker's stock after selling 34,792 shares during the quarter. Bessemer Group Inc. owned about 0.05% of NIKE worth $58,600,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. XTX Topco Ltd acquired a new position in shares of NIKE in the 3rd quarter valued at $418,000. Vestcor Inc increased its stake in shares of NIKE by 5.8% in the 3rd quarter. Vestcor Inc now owns 23,893 shares of the footwear maker's stock valued at $2,112,000 after purchasing an additional 1,320 shares in the last quarter. MidWestOne Financial Group Inc. purchased a new stake in shares of NIKE in the third quarter valued at approximately $208,000. Toronto Dominion Bank increased its holdings in NIKE by 59.9% in the 3rd quarter. Toronto Dominion Bank now owns 1,055,597 shares of the footwear maker's stock worth $93,315,000 after acquiring an additional 395,434 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky increased its stake in shares of NIKE by 8.2% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 265,449 shares of the footwear maker's stock worth $23,466,000 after purchasing an additional 20,043 shares in the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on NKE. Guggenheim restated a "buy" rating and issued a $110.00 target price on shares of NIKE in a research report on Wednesday, February 12th. JPMorgan Chase & Co. reduced their target price on shares of NIKE from $73.00 to $64.00 and set a "neutral" rating for the company in a research report on Friday, March 21st. Needham & Company LLC lowered their price target on shares of NIKE from $84.00 to $80.00 and set a "buy" rating on the stock in a research report on Monday, March 17th. Bank of America decreased their target price on shares of NIKE from $95.00 to $90.00 and set a "buy" rating on the stock in a research note on Friday, December 20th. Finally, Piper Sandler dropped their price target on NIKE from $90.00 to $70.00 and set an "overweight" rating for the company in a research report on Friday. Fifteen research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $86.19.

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Insiders Place Their Bets

In other NIKE news, Chairman Mark G. Parker sold 169,732 shares of the firm's stock in a transaction 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 of the company's stock, 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 SEC, which is accessible through this link. Also, Director Robert Holmes Swan acquired 8,600 shares of NIKE stock in a transaction dated Friday, April 4th. The stock was bought at an average price of $58.46 per share, for a total transaction of $502,756.00. Following the completion of the transaction, the director now directly owns 31,983 shares of the company's stock, valued at approximately $1,869,726.18. This represents a 36.78 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.10% of the stock is currently owned by company insiders.

NIKE Stock Performance

NYSE:NKE traded up $0.63 during midday trading on Monday, reaching $55.02. The stock had a trading volume of 9,621,681 shares, compared to its average volume of 14,021,601. The stock has a market cap of $81.38 billion, a P/E ratio of 16.98, a P/E/G ratio of 2.52 and a beta of 1.15. 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 12-month low of $52.28 and a 12-month high of $98.04. The firm has a fifty day simple moving average of $70.03 and a two-hundred day simple moving average of $74.83.

NIKE (NYSE:NKE - Get Free Report) last released its earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share (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 company 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 EPS. The firm's quarterly revenue was down 9.1% on a year-over-year basis. On average, equities analysts expect that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 3rd were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.91%. The ex-dividend date of this dividend was Monday, March 3rd. NIKE's dividend payout ratio (DPR) is 53.16%.

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.