NIKE, Inc. (NYSE:NKE) Shares Sold by Groupama Asset Managment

Groupama Asset Managment reduced its stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 60.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 59,940 shares of the footwear maker's stock after selling 90,136 shares during the quarter. Groupama Asset Managment's holdings in NIKE were worth $4,475,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Norges Bank purchased a new stake in shares of NIKE in the 4th quarter worth $1,126,288,000. Wellington Management Group LLP lifted its stake in NIKE by 32.4% in the fourth quarter. Wellington Management Group LLP now owns 36,340,736 shares of the footwear maker's stock worth $2,749,903,000 after acquiring an additional 8,898,591 shares during the period. Pacer Advisors Inc. grew its holdings in NIKE by 6,029.6% during the 4th quarter. Pacer Advisors Inc. now owns 6,821,270 shares of the footwear maker's stock worth $516,166,000 after acquiring an additional 6,709,985 shares in the last quarter. Bank of New York Mellon Corp increased its position in 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 valued at $1,541,246,000 after purchasing an additional 3,121,929 shares during the period. Finally, Assenagon Asset Management S.A. raised its holdings in shares of NIKE by 358.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 3,015,267 shares of the footwear maker's stock valued at $228,165,000 after purchasing an additional 2,357,745 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors.

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Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Wells Fargo & Company cut their price objective on shares of NIKE from $90.00 to $85.00 and set an "overweight" rating on the stock in a report on Friday, March 21st. China Renaissance initiated coverage on NIKE in a research report on Wednesday, March 19th. They set a "hold" rating on the stock. Jefferies Financial Group raised NIKE from a "hold" rating to a "buy" rating and boosted their price target for the stock from $75.00 to $115.00 in a research report on Monday, February 24th. Robert W. Baird dropped their price objective on NIKE from $105.00 to $99.00 and set an "outperform" rating on the stock in a research report on Friday, March 21st. Finally, Piper Sandler upgraded NIKE from a "neutral" rating to an "overweight" rating and lifted their target price for the company from $72.00 to $90.00 in a research note on Friday, January 10th. Fifteen analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $87.38.

Insider Transactions at NIKE

In related news, Chairman Mark G. Parker sold 169,732 shares of the stock in a transaction on Friday, February 14th. The shares were sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the sale, the chairman now directly owns 896,632 shares of the company's stock, valued at approximately $65,301,708.56. This represents a 15.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.10% of the company's stock.

NIKE Stock Performance

NYSE NKE traded up $0.28 on Wednesday, reaching $65.04. 10,774,673 shares of the company's stock traded hands, compared to its average volume of 12,961,350. NIKE, Inc. has a fifty-two week low of $60.09 and a fifty-two week high of $98.04. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. The firm has a market cap of $96.20 billion, a price-to-earnings ratio of 20.07, a P/E/G ratio of 2.52 and a beta of 1.02. The stock has a 50 day moving average price of $73.66 and a 200-day moving average price of $76.64.

NIKE (NYSE:NKE - Get Free Report) last issued its quarterly earnings data 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 business 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 for the quarter was down 9.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.98 EPS. Equities research analysts predict that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd were given a $0.40 dividend. The ex-dividend date was Monday, March 3rd. This represents a $1.60 annualized dividend and a yield of 2.46%. NIKE's dividend payout ratio is presently 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.