NIKE, Inc. (NYSE:NKE) Holdings Cut by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. trimmed its holdings in NIKE, Inc. (NYSE:NKE - Free Report) by 10.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,941,213 shares of the footwear maker's stock after selling 238,273 shares during the period. NIKE accounts for about 1.0% of Brown Brothers Harriman & Co.'s investment portfolio, making the stock its 26th largest position. Brown Brothers Harriman & Co. owned about 0.13% of NIKE worth $146,892,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in NKE. DnB Asset Management AS increased its position in NIKE by 1.0% during the fourth quarter. DnB Asset Management AS now owns 313,694 shares of the footwear maker's stock worth $23,737,000 after buying an additional 3,046 shares in the last quarter. Level Four Advisory Services LLC boosted its stake in shares of NIKE by 19.9% during the fourth quarter. Level Four Advisory Services LLC now owns 15,751 shares of the footwear maker's stock valued at $1,192,000 after acquiring an additional 2,619 shares during the last quarter. Pictet Asset Management Holding SA increased its position in NIKE by 0.4% during the 4th quarter. Pictet Asset Management Holding SA now owns 1,676,133 shares of the footwear maker's stock worth $126,833,000 after purchasing an additional 6,998 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its stake in NIKE by 19.2% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 548,341 shares of the footwear maker's stock valued at $41,493,000 after purchasing an additional 88,260 shares during the last quarter. Finally, New Age Alpha Advisors LLC purchased a new position in NIKE in the 4th quarter valued at about $3,318,000. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Remove Ads

Analysts Set New Price Targets

A number of brokerages have recently commented on NKE. Bank of America lowered their price target on shares of NIKE from $95.00 to $90.00 and set a "buy" rating for the company in a report on Friday, December 20th. Citigroup downgraded NIKE from a "buy" rating to a "neutral" rating and cut their price target for the company from $102.00 to $72.00 in a report on Friday, February 7th. JPMorgan Chase & Co. reduced their price target on NIKE from $73.00 to $64.00 and set a "neutral" rating on the stock in a research note on Friday, March 21st. Truist Financial lowered 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. Finally, Dbs Bank upgraded NIKE from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, March 5th. Fifteen investment 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. Based on data from MarketBeat, NIKE presently has an average rating of "Moderate Buy" and an average target price of $87.38.

Insider Buying and Selling at NIKE

In other news, Chairman Mark G. Parker sold 169,732 shares of the business'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 value of $12,361,581.56. Following the completion of the sale, the chairman now directly owns 896,632 shares in the company, valued at approximately $65,301,708.56. The trade was a 15.92 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.10% of the stock is currently owned by insiders.

NIKE Stock Up 0.6 %

Shares of NKE traded up $0.37 during trading on Monday, reaching $63.66. The company's stock had a trading volume of 11,027,726 shares, compared to its average volume of 14,829,009. The company has a market cap of $94.16 billion, a price-to-earnings ratio of 19.65, a P/E/G ratio of 2.52 and a beta of 1.02. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. The company has a fifty day moving average of $74.16 and a two-hundred day moving average of $76.92. NIKE, Inc. has a twelve month low of $62.65 and a twelve month high of $98.04.

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

NIKE Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be paid a $0.40 dividend. The ex-dividend date is Monday, March 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.51%. NIKE's dividend payout ratio (DPR) is 53.16%.

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.