Commerzbank Aktiengesellschaft FI Sells 5,228 Shares of NIKE, Inc. (NYSE:NKE)

Commerzbank Aktiengesellschaft FI cut its stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 8.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 55,687 shares of the footwear maker's stock after selling 5,228 shares during the period. Commerzbank Aktiengesellschaft FI's holdings in NIKE were worth $4,214,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of NKE. Charles Schwab Investment Management Inc. increased its stake in NIKE by 7.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 9,205,753 shares of the footwear maker's stock valued at $696,599,000 after buying an additional 603,219 shares during the last quarter. State of Michigan Retirement System grew its holdings in shares of NIKE by 1.4% in the fourth quarter. State of Michigan Retirement System now owns 408,215 shares of the footwear maker's stock valued at $30,890,000 after acquiring an additional 5,800 shares in the last quarter. Global Strategic Investment Solutions LLC increased its position in shares of NIKE by 5.7% during the fourth quarter. Global Strategic Investment Solutions LLC now owns 3,802 shares of the footwear maker's stock valued at $288,000 after acquiring an additional 206 shares during the last quarter. Schechter Investment Advisors LLC lifted its holdings in NIKE by 111.3% during the fourth quarter. Schechter Investment Advisors LLC now owns 5,769 shares of the footwear maker's stock worth $437,000 after acquiring an additional 3,039 shares during the period. Finally, Auxano Advisors LLC boosted its position in NIKE by 5.3% in the fourth quarter. Auxano Advisors LLC now owns 14,585 shares of the footwear maker's stock worth $1,104,000 after purchasing an additional 733 shares during the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NKE has been the topic of a number of research analyst reports. Wells Fargo & Company cut their price target on shares of NIKE from $95.00 to $92.00 and set an "overweight" rating on the stock in a report on Monday, December 16th. JPMorgan Chase & Co. dropped their target price on shares of NIKE from $77.00 to $73.00 and set a "neutral" rating on the stock in a research note on Monday, December 2nd. Truist Financial decreased their price target on shares of NIKE from $97.00 to $90.00 and set a "buy" rating for the company in a research note on Friday, December 20th. Bank of America reduced their price objective on NIKE from $95.00 to $90.00 and set a "buy" rating for the company in a report on Friday, December 20th. Finally, Citigroup lowered NIKE from a "buy" rating to a "neutral" rating and lowered their target price for the company from $102.00 to $72.00 in a research note on Friday, February 7th. Fourteen equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, NIKE currently has a consensus rating of "Moderate Buy" and a consensus target price of $89.77.

NIKE Price Performance

NYSE NKE traded up $0.38 on Wednesday, reaching $77.70. 5,923,235 shares of the company's stock traded hands, compared to its average volume of 13,232,185. The stock has a market cap of $114.92 billion, a PE ratio of 23.99, a P/E/G ratio of 2.52 and a beta of 1.01. NIKE, Inc. has a 12 month low of $68.62 and a 12 month high of $102.49. The stock has a 50-day simple moving average of $74.68 and a 200 day simple moving average of $78.25. 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 - Get Free Report) last posted its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.15. The business had revenue of $12.35 billion during the quarter, compared to analyst estimates of $12.11 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The company's revenue was down 7.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.03 earnings per share. As a group, research analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

The company also recently announced 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. This represents a $1.60 annualized dividend and a dividend yield of 2.06%. The ex-dividend date is Monday, March 3rd. NIKE's payout ratio is 49.38%.

Insider Activity 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 transaction of $12,361,581.56. Following the transaction, the chairman now directly owns 896,632 shares of the company's stock, valued at approximately $65,301,708.56. The trade was a 15.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John W. Rogers, Jr. purchased 2,500 shares of NIKE stock in a transaction that occurred on Friday, December 27th. The shares were bought at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the transaction, the director now directly owns 34,403 shares of the company's stock, valued at $2,636,989.95. This trade represents a 7.84 % 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 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.