NIKE, Inc. (NYSE:NKE) Position Cut by Sei Investments Co.

Sei Investments Co. lowered its stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 6.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 690,918 shares of the footwear maker's stock after selling 48,972 shares during the period. Sei Investments Co.'s holdings in NIKE were worth $52,282,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in NKE. State Street Corp lifted its stake in NIKE by 3.3% during the third quarter. State Street Corp now owns 57,916,789 shares of the footwear maker's stock worth $5,140,796,000 after purchasing an additional 1,862,021 shares in the last quarter. Wellington Management Group LLP lifted its stake in NIKE by 5.1% during the 3rd quarter. Wellington Management Group LLP now owns 27,442,145 shares of the footwear maker's stock worth $2,425,886,000 after acquiring an additional 1,343,093 shares in the last quarter. Geode Capital Management LLC lifted its stake in NIKE by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 25,029,380 shares of the footwear maker's stock worth $2,204,451,000 after acquiring an additional 251,411 shares in the last quarter. Bank of New York Mellon Corp grew its position in NIKE by 18.1% in 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 acquiring an additional 3,121,929 shares in the last quarter. Finally, Fisher Asset Management LLC increased its stake in NIKE by 6.0% during the third quarter. Fisher Asset Management LLC now owns 10,303,182 shares of the footwear maker's stock worth $910,801,000 after purchasing an additional 583,207 shares during the period. Hedge funds and other institutional investors own 64.25% of the company's stock.

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NIKE Price Performance

NIKE stock traded up $0.13 during trading hours on Thursday, hitting $65.87. The stock had a trading volume of 16,424,324 shares, compared to its average volume of 12,461,288. The stock has a market capitalization of $97.42 billion, a price-to-earnings ratio of 20.33, a PEG ratio of 2.52 and a beta of 1.02. 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 1-year low of $64.95 and a 1-year high of $98.04. The stock's fifty day moving average is $74.42 and its two-hundred day moving average is $77.13.

NIKE (NYSE:NKE - Get Free Report) last released its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.26. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The company had revenue of $11.27 billion during the quarter, compared to the consensus estimate of $11.02 billion. During the same quarter last year, the business posted $0.98 earnings per share. NIKE's revenue was down 9.1% compared to the same quarter last year. As a group, analysts predict 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 will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.60 annualized dividend and a yield of 2.43%. NIKE's dividend payout ratio is currently 53.16%.

Insider Transactions at NIKE

In related news, Director John W. Rogers, Jr. purchased 2,500 shares of the company's stock in a transaction that occurred on Friday, December 27th. The stock was acquired at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the purchase, the director now owns 34,403 shares in the company, valued at approximately $2,636,989.95. This represents a 7.84 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Mark G. Parker sold 169,732 shares of the company's 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 completion of the sale, the chairman now directly owns 896,632 shares in the company, valued at $65,301,708.56. This represents a 15.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.10% of the company's stock.

Analyst Ratings Changes

NKE has been the subject of several recent research reports. Piper Sandler raised shares of NIKE from a "neutral" rating to an "overweight" rating and raised their price objective for the company from $72.00 to $90.00 in a research note on Friday, January 10th. Morgan Stanley decreased their price target on shares of NIKE from $72.00 to $70.00 and set an "equal weight" rating for the company in a research report on Friday, March 21st. Evercore ISI cut their price objective on NIKE from $105.00 to $97.00 and set an "outperform" rating on the stock in a research report on Monday, December 16th. BMO Capital Markets decreased their target price on NIKE from $95.00 to $92.00 and set an "outperform" rating for the company in a report on Friday, March 21st. Finally, Stifel Nicolaus lowered their target price on NIKE from $79.00 to $75.00 and set a "hold" rating for the company in a research note on Friday, December 20th. Fifteen equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price 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.