NIKE, Inc. (NYSE:NKE) Shares Sold by Capital International Investors

Capital International Investors trimmed its holdings in NIKE, Inc. (NYSE:NKE - Free Report) by 23.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,173,407 shares of the footwear maker's stock after selling 4,065,694 shares during the period. Capital International Investors owned about 0.89% of NIKE worth $996,795,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. JNBA Financial Advisors raised its holdings in shares of NIKE by 1.3% during the fourth quarter. JNBA Financial Advisors now owns 10,045 shares of the footwear maker's stock worth $760,000 after purchasing an additional 131 shares during the period. Nations Financial Group Inc. IA ADV boosted its stake in shares of NIKE by 0.7% during the 4th quarter. Nations Financial Group Inc. IA ADV now owns 20,446 shares of the footwear maker's stock worth $1,547,000 after acquiring an additional 136 shares in the last quarter. Elgethun Capital Management boosted its stake in NIKE by 13.7% in the 4th quarter. Elgethun Capital Management now owns 1,236 shares of the footwear maker's stock worth $94,000 after purchasing an additional 149 shares during the period. GAMMA Investing LLC increased its stake in NIKE by 1.0% in the 4th quarter. GAMMA Investing LLC now owns 15,014 shares of the footwear maker's stock valued at $1,136,000 after buying an additional 150 shares during the period. Finally, Game Plan Financial Advisors LLC increased its holdings in NIKE by 11.1% in the fourth quarter. Game Plan Financial Advisors LLC now owns 1,500 shares of the footwear maker's stock worth $114,000 after buying an additional 150 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have issued reports on NKE shares. Needham & Company LLC lowered their target price on NIKE from $84.00 to $80.00 and set a "buy" rating on the stock in a report on Monday, March 17th. Piper Sandler reduced their price objective on NIKE from $90.00 to $70.00 and set an "overweight" rating on the stock in a report on Friday, April 11th. Telsey Advisory Group reiterated a "market perform" rating and issued a $80.00 price objective on shares of NIKE in a report on Monday, March 17th. Royal Bank of Canada reduced their price target on shares of NIKE from $67.00 to $66.00 and set a "sector perform" rating for the company in a report on Friday, March 21st. Finally, UBS Group decreased their target price on shares of NIKE from $73.00 to $66.00 and set a "neutral" rating for the company in a research note on Friday, March 21st. Sixteen research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $83.19.

NIKE Stock Performance

Shares of NKE traded down $0.13 during trading hours on Wednesday, reaching $56.93. 11,988,385 shares of the company traded hands, compared to its average volume of 14,247,620. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $98.04. The stock has a market capitalization of $84.21 billion, a P/E ratio of 17.57, 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. The business has a fifty day moving average price of $67.75 and a 200-day moving average price of $73.44.

NIKE (NYSE:NKE - Get Free Report) last issued its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, topping the consensus estimate of $0.28 by $0.26. The company had revenue of $11.27 billion during 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% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.98 EPS. Equities analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 3rd were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.81%. The ex-dividend date of this dividend was Monday, March 3rd. NIKE's payout ratio is 53.16%.

Insiders Place Their Bets

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 transaction of $12,361,581.56. Following the sale, the chairman now owns 896,632 shares of the company's stock, valued at $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 is available through this hyperlink. Also, Director Robert Holmes Swan purchased 8,600 shares of the business's stock in a transaction dated Friday, April 4th. The stock was bought at an average cost of $58.46 per share, with a total value of $502,756.00. Following the completion of the acquisition, the director now owns 31,983 shares of the company's stock, valued at approximately $1,869,726.18. The trade was a 36.78 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.10% 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.