iA Global Asset Management Inc. Sells 24,408 Shares of NIKE, Inc. (NYSE:NKE)

iA Global Asset Management Inc. cut its holdings in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 83.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,016 shares of the footwear maker's stock after selling 24,408 shares during the quarter. iA Global Asset Management Inc.'s holdings in NIKE were worth $380,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in NKE. Magnetar Financial LLC bought a new position in shares of NIKE during the 4th quarter valued at $563,000. Teacher Retirement System of Texas grew its stake in shares of NIKE by 28.2% during the fourth quarter. Teacher Retirement System of Texas now owns 642,336 shares of the footwear maker's stock valued at $48,606,000 after buying an additional 141,262 shares during the last quarter. Generali Investments Management Co LLC purchased a new position in shares of NIKE in the fourth quarter worth about $2,203,000. Koss Olinger Consulting LLC lifted its stake in shares of NIKE by 65.4% in the 4th quarter. Koss Olinger Consulting LLC now owns 41,926 shares of the footwear maker's stock valued at $3,173,000 after acquiring an additional 16,583 shares during the last quarter. Finally, Vinva Investment Management Ltd lifted its position in NIKE by 69.6% in the fourth quarter. Vinva Investment Management Ltd now owns 59,422 shares of the footwear maker's stock valued at $4,436,000 after purchasing an additional 24,390 shares during the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

NIKE Stock Performance

Shares of NIKE stock traded up $0.13 during trading hours on Thursday, reaching $65.87. 16,424,324 shares of the stock traded hands, compared to its average volume of 12,461,280. NIKE, Inc. has a one year low of $64.95 and a one year high of $98.04. The firm has a market capitalization of $97.42 billion, a price-to-earnings ratio of 20.33, a P/E/G ratio of 2.52 and a beta of 1.02. 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 company has a 50 day moving average price of $74.42 and a 200 day moving average price of $77.13.

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NIKE (NYSE:NKE - Get Free Report) last announced its 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 business had revenue of $11.27 billion during 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%. The firm's revenue was down 9.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.98 earnings per share. On average, equities research analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.43%. The ex-dividend date is Monday, March 3rd. NIKE's dividend payout ratio is presently 53.16%.

Analyst Ratings Changes

A number of equities research analysts recently commented on NKE shares. Piper Sandler upgraded shares of NIKE from a "neutral" rating to an "overweight" rating and upped their price target for the company from $72.00 to $90.00 in a report on Friday, January 10th. DA Davidson raised shares of NIKE to a "strong-buy" rating in a research note on Monday, December 23rd. Evercore ISI reduced their price target on NIKE from $105.00 to $97.00 and set an "outperform" rating on the stock in a report on Monday, December 16th. China Renaissance began coverage on NIKE in a research report on Wednesday, March 19th. They issued a "hold" rating on the stock. Finally, Guggenheim reissued a "buy" rating and set a $110.00 target price on shares of NIKE in a research note on Wednesday, February 12th. Fifteen 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. According to data from MarketBeat.com, NIKE has a consensus rating of "Moderate Buy" and a consensus price target of $87.38.

Insiders Place Their Bets

In other 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 value of $12,361,581.56. Following the completion of the sale, the chairman now directly owns 896,632 shares of the company's stock, valued at $65,301,708.56. This represents a 15.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John W. Rogers, Jr. bought 2,500 shares of the stock in a transaction that occurred on Friday, December 27th. The shares were purchased at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the purchase, the director now owns 34,403 shares in the company, valued at $2,636,989.95. This represents a 7.84 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.10% of the company's stock.

About NIKE

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.