Longview Partners Guernsey LTD Cuts Position in NIKE, Inc. (NYSE:NKE)

Longview Partners Guernsey LTD lessened its stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 4.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,862,081 shares of the footwear maker's stock after selling 206,092 shares during the quarter. NIKE makes up approximately 2.7% of Longview Partners Guernsey LTD's portfolio, making the stock its 23rd biggest position. Longview Partners Guernsey LTD owned 0.33% of NIKE worth $367,914,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in NKE. Norges Bank purchased a new position in NIKE during the 4th quarter valued at about $1,126,288,000. Wellington Management Group LLP raised its holdings in shares of NIKE by 32.4% during the fourth quarter. Wellington Management Group LLP now owns 36,340,736 shares of the footwear maker's stock valued at $2,749,903,000 after acquiring an additional 8,898,591 shares in the last quarter. Pacer Advisors Inc. lifted its stake in NIKE by 6,029.6% in the fourth 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 during the period. 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, Renaissance Technologies LLC increased its position in NIKE by 1,302.7% during the 4th quarter. Renaissance Technologies LLC now owns 2,602,101 shares of the footwear maker's stock valued at $196,901,000 after purchasing an additional 2,416,601 shares during the period. Institutional investors own 64.25% of the company's stock.

Insiders Place Their Bets

In other NIKE news, Chairman Mark G. Parker sold 169,732 shares of the company's stock in a transaction 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 completion of the sale, the chairman now directly owns 896,632 shares in the company, valued at approximately $65,301,708.56. This 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. Also, Director Robert Holmes Swan acquired 8,600 shares of the stock in a transaction that occurred on Friday, April 4th. The stock was acquired at an average cost of $58.46 per share, with a total value of $502,756.00. Following the completion of the purchase, the director now owns 31,983 shares of the company's stock, 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. Insiders own 1.10% of the company's stock.

Wall Street Analyst Weigh In

NKE has been the subject of several research analyst reports. Citigroup lowered shares of NIKE from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $102.00 to $72.00 in a report on Friday, February 7th. Truist Financial dropped their price target on shares of NIKE from $90.00 to $82.00 and set a "buy" rating on the stock in a research note on Friday, March 21st. Needham & Company LLC cut their target price on NIKE from $84.00 to $80.00 and set a "buy" rating on the stock in a research note on Monday, March 17th. Wells Fargo & Company reduced their price target on shares of NIKE from $90.00 to $85.00 and set an "overweight" rating for the company in a research note on Friday, March 21st. Finally, BMO Capital Markets reduced their price objective on NIKE from $95.00 to $92.00 and set an "outperform" rating for the company in a research report on Friday, March 21st. Sixteen investment 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $85.15.

NIKE Trading Up 4.1 %

NKE stock traded up $2.18 during midday trading on Friday, reaching $55.73. 18,891,139 shares of the company traded hands, compared to its average volume of 14,196,646. 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 business has a 50 day moving average of $68.39 and a 200-day moving average of $73.85. The firm has a market capitalization of $82.44 billion, a price-to-earnings ratio of 17.20, a P/E/G ratio of 2.52 and a beta of 1.15. NIKE, Inc. has a 52-week low of $52.28 and a 52-week high of $98.04.

NIKE (NYSE:NKE - Get Free Report) last released its earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.26. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The firm had revenue of $11.27 billion during the quarter, compared to analyst estimates of $11.02 billion. During the same quarter last year, the business earned $0.98 EPS. The business's revenue was down 9.1% on a year-over-year basis. As a group, sell-side analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 3rd were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date of this dividend was Monday, March 3rd. NIKE's payout ratio is currently 53.16%.

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.