Corebridge Financial Inc. Sells 19,080 Shares of NIKE, Inc. (NYSE:NKE)

Corebridge Financial Inc. lessened its holdings in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 6.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 273,637 shares of the footwear maker's stock after selling 19,080 shares during the period. Corebridge Financial Inc.'s holdings in NIKE were worth $20,706,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in NKE. Teachers Insurance & Annuity Association of America bought a new position in NIKE during the third quarter valued at about $30,000. Caitlin John LLC boosted its holdings in NIKE by 117.0% during the fourth quarter. Caitlin John LLC now owns 371 shares of the footwear maker's stock valued at $28,000 after purchasing an additional 200 shares in the last quarter. Heck Capital Advisors LLC bought a new stake in shares of NIKE in the 4th quarter valued at approximately $28,000. Roxbury Financial LLC bought a new position in shares of NIKE during the 4th quarter worth approximately $30,000. Finally, LFA Lugano Financial Advisors SA boosted its stake in NIKE by 110.5% in the 4th quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker's stock valued at $30,000 after buying an additional 210 shares in the last quarter. Institutional investors own 64.25% of the company's stock.

NIKE Trading Down 3.8 %

Shares of NYSE NKE traded down $2.48 during midday trading on Friday, reaching $63.32. 19,564,094 shares of the stock were exchanged, compared to its average volume of 12,930,854. 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, Inc. has a 12 month low of $63.14 and a 12 month high of $98.04. The business has a 50-day simple moving average of $74.16 and a two-hundred day simple moving average of $76.93. The company has a market capitalization of $93.65 billion, a price-to-earnings ratio of 19.54, a P/E/G ratio of 2.52 and a beta of 1.02.

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NIKE (NYSE:NKE - Get Free Report) last posted its earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.28 by $0.26. The firm had revenue of $11.27 billion during the quarter, compared to analysts' expectations of $11.02 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The company's revenue was down 9.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.98 earnings per share. As a group, equities research 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 will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.53%. NIKE's payout ratio is 53.16%.

Insider Activity at NIKE

In related news, Chairman Mark G. Parker sold 169,732 shares of NIKE 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 sale, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on NKE shares. Dbs Bank upgraded shares of NIKE from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, March 5th. Robert W. Baird decreased their price target on NIKE from $105.00 to $99.00 and set an "outperform" rating on the stock in a research report on Friday, March 21st. Needham & Company LLC cut their price objective on NIKE from $84.00 to $80.00 and set a "buy" rating for the company in a research report on Monday, March 17th. BMO Capital Markets reduced their price objective on NIKE from $95.00 to $92.00 and set an "outperform" rating on the stock in a research note on Friday, March 21st. Finally, DA Davidson upgraded NIKE to a "strong-buy" rating in a research note on Monday, December 23rd. Fifteen research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $87.38.

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.