Vanguard Group Inc. Sells 2,328,170 Shares of NIKE, Inc. (NYSE:NKE)

Vanguard Group Inc. cut its holdings in NIKE, Inc. (NYSE:NKE - Free Report) by 2.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 108,193,586 shares of the footwear maker's stock after selling 2,328,170 shares during the quarter. Vanguard Group Inc. owned approximately 7.31% of NIKE worth $8,187,009,000 at the end of the most recent reporting period.

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

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Analyst Upgrades and Downgrades

Several research firms recently issued reports on NKE. JPMorgan Chase & Co. decreased their price target on NIKE from $73.00 to $64.00 and set a "neutral" rating on the stock in a report on Friday, March 21st. Deutsche Bank Aktiengesellschaft dropped their price target on shares of NIKE from $92.00 to $82.00 and set a "buy" rating for the company in a research note on Monday, December 16th. Truist Financial reduced their price objective 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. DA Davidson upgraded shares of NIKE to a "strong-buy" rating in a research report on Monday, December 23rd. Finally, Robert W. Baird reduced their price target on NIKE from $105.00 to $99.00 and set an "outperform" rating on the stock in a research report on Friday, March 21st. Fifteen 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 company's stock. According to MarketBeat, NIKE currently has an average rating of "Moderate Buy" and a consensus price target of $87.38.

Insider Activity at NIKE

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

NIKE Stock Up 1.0 %

NYSE:NKE traded up $0.68 during trading hours on Thursday, reaching $66.42. 8,201,972 shares of the stock were exchanged, compared to its average volume of 12,429,906. The stock has a market cap of $98.25 billion, a PE ratio of 20.51, a PEG ratio of 2.52 and a beta of 1.02. NIKE, Inc. has a twelve month low of $64.95 and a twelve month high of $98.04. The firm has a 50 day moving average of $74.42 and a 200 day moving average of $77.13. 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 (NYSE:NKE - Get Free Report) last announced its earnings results on Thursday, March 20th. The footwear maker reported $0.54 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 business had revenue of $11.27 billion during the quarter, compared to analysts' expectations of $11.02 billion. During the same quarter in the prior year, the company posted $0.98 earnings per share. The firm's revenue was down 9.1% on a year-over-year basis. On average, equities analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors 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 2.41%. The ex-dividend date of this dividend is Monday, March 3rd. NIKE's dividend 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.