Federated Hermes Inc. Grows Stock Holdings in NIKE, Inc. (NYSE:NKE)

Federated Hermes Inc. increased its holdings in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 842.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 107,873 shares of the footwear maker's stock after purchasing an additional 96,429 shares during the quarter. Federated Hermes Inc.'s holdings in NIKE were worth $8,163,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Wellington Management Group LLP lifted its position in NIKE by 32.4% during the 4th quarter. Wellington Management Group LLP now owns 36,340,736 shares of the footwear maker's stock worth $2,749,903,000 after buying an additional 8,898,591 shares in the last quarter. Geode Capital Management LLC grew its stake in NIKE by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 25,376,558 shares of the footwear maker's stock valued at $1,915,110,000 after purchasing an additional 347,178 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of NIKE by 18.1% during the 4th quarter. Bank of New York Mellon Corp now owns 20,367,993 shares of the footwear maker's stock worth $1,541,246,000 after purchasing an additional 3,121,929 shares in the last quarter. Norges Bank acquired a new stake in shares of NIKE in the 4th quarter valued at approximately $1,126,288,000. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of NIKE by 7.0% in the fourth 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 in the last quarter. Institutional investors own 64.25% of the company's stock.

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Analysts Set New Price Targets

Several research firms have recently weighed in on NKE. Dbs Bank upgraded shares of NIKE from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 5th. Evercore ISI dropped their price target on NIKE from $105.00 to $97.00 and set an "outperform" rating on the stock in a research note on Monday, December 16th. Piper Sandler cut their target price on shares of NIKE from $90.00 to $70.00 and set an "overweight" rating for the company in a research note on Friday. Stifel Nicolaus lowered their price target on shares of NIKE from $75.00 to $64.00 and set a "hold" rating on the stock in a report on Thursday, April 10th. Finally, Bank of America lowered their target price on NIKE from $95.00 to $90.00 and set a "buy" rating on the stock in a research note on Friday, December 20th. Sixteen analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, NIKE currently has an average rating of "Moderate Buy" and a consensus price target of $85.15.

Insider Buying and Selling

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 shares were 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 SEC, which can be accessed through this hyperlink. Also, Director Robert Holmes Swan bought 8,600 shares of the firm's stock in a transaction that occurred on Friday, April 4th. The stock was acquired at an average price of $58.46 per share, for a total transaction of $502,756.00. Following the transaction, the director now owns 31,983 shares in the company, valued at $1,869,726.18. This trade 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 insiders.

NIKE Stock Down 1.5 %

Shares of NKE stock traded down $0.81 on Tuesday, hitting $54.60. The stock had a trading volume of 5,540,903 shares, compared to its average volume of 14,060,550. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $98.04. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. The business has a 50 day moving average of $69.65 and a 200 day moving average of $74.59. The stock has a market cap of $80.76 billion, a price-to-earnings ratio of 16.84, a price-to-earnings-growth ratio of 2.52 and a beta of 1.15.

NIKE (NYSE:NKE - Get Free Report) last announced its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, beating analysts' consensus estimates of $0.28 by $0.26. The company 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%. NIKE's revenue was down 9.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.98 EPS. As a group, analysts expect that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd were given a $0.40 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.93%. NIKE's dividend payout ratio (DPR) is currently 53.16%.

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.