Truist Financial Corp Has $34.62 Million Stock Position in NIKE, Inc. (NYSE:NKE)

Truist Financial Corp lessened its position in NIKE, Inc. (NYSE:NKE - Free Report) by 38.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 457,505 shares of the footwear maker's stock after selling 285,864 shares during the period. Truist Financial Corp's holdings in NIKE were worth $34,619,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Pacer Advisors Inc. increased its stake 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 valued at $516,166,000 after buying an additional 6,709,985 shares during the period. Loomis Sayles & Co. L P increased its stake in NIKE by 1,209,638.7% during the 3rd quarter. Loomis Sayles & Co. L P now owns 6,508,394 shares of the footwear maker's stock valued at $575,342,000 after buying an additional 6,507,856 shares during the period. Assenagon Asset Management S.A. increased its stake in NIKE by 358.6% during 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 buying an additional 2,357,745 shares during the period. State Street Corp increased its stake in NIKE by 3.3% during the 3rd quarter. State Street Corp now owns 57,916,789 shares of the footwear maker's stock valued at $5,140,796,000 after buying an additional 1,862,021 shares during the period. Finally, Holocene Advisors LP acquired a new position in NIKE during the 3rd quarter valued at about $148,635,000. Institutional investors and hedge funds own 64.25% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Deutsche Bank Aktiengesellschaft lowered their target price on shares of NIKE from $92.00 to $82.00 and set a "buy" rating on the stock in a research note on Monday, December 16th. Bank of America reduced their price objective on shares of NIKE from $95.00 to $90.00 and set a "buy" rating for the company in a research report on Friday, December 20th. Needham & Company LLC restated a "buy" rating and set a $84.00 price objective on shares of NIKE in a research report on Friday, February 7th. Robert W. Baird reduced their price objective on shares of NIKE from $110.00 to $105.00 and set an "outperform" rating for the company in a research report on Monday, December 23rd. Finally, Citigroup lowered shares of NIKE from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $102.00 to $72.00 in a research report on Friday, February 7th. Fifteen analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $88.62.

NIKE Stock Down 0.9 %

NKE traded down $0.73 during midday trading on Friday, hitting $76.50. 12,813,494 shares of the company's stock traded hands, compared to its average volume of 13,223,615. The company has a market cap of $113.15 billion, a PE ratio of 23.61, a price-to-earnings-growth ratio of 2.50 and a beta of 1.01. The stock's fifty day simple moving average is $74.33 and its 200-day simple moving average is $78.05. 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 one year low of $68.62 and a one year high of $106.62.

NIKE (NYSE:NKE - Get Free Report) last released its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, beating analysts' consensus estimates of $0.63 by $0.15. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The company had revenue of $12.35 billion for the quarter, compared to analyst estimates of $12.11 billion. During the same quarter last year, the firm posted $1.03 earnings per share. The company's quarterly revenue was down 7.7% compared to the same quarter last year. As a group, equities analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date of this dividend is Monday, March 3rd. NIKE's dividend payout ratio is 49.38%.

Insider Activity

In other news, Chairman Mark G. Parker sold 169,732 shares of NIKE 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 transaction, the chairman now owns 896,632 shares of the company's stock, valued at $65,301,708.56. This trade represents a 15.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John W. Rogers, Jr. purchased 2,500 shares of the company's stock in a transaction dated Friday, December 27th. The stock was purchased at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the transaction, the director now owns 34,403 shares of the company's stock, valued at approximately $2,636,989.95. This trade represents a 7.84 % 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.

NIKE Company 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.