Voya Investment Management LLC Lowers Position in NIKE, Inc. (NYSE:NKE)

Voya Investment Management LLC trimmed its position in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 1.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,427,992 shares of the footwear maker's stock after selling 15,500 shares during the quarter. Voya Investment Management LLC owned approximately 0.10% of NIKE worth $108,056,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of NIKE during the 4th quarter valued at $1,126,288,000. Wellington Management Group LLP lifted its position in NIKE by 32.4% during the 4th 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 during the period. Pacer Advisors Inc. boosted its stake in NIKE by 6,029.6% during 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 in the last quarter. Bank of New York Mellon Corp boosted its stake in NIKE by 18.1% during the fourth quarter. Bank of New York Mellon Corp now owns 20,367,993 shares of the footwear maker's stock worth $1,541,246,000 after acquiring an additional 3,121,929 shares in the last quarter. Finally, Renaissance Technologies LLC grew its holdings in NIKE by 1,302.7% in the fourth quarter. Renaissance Technologies LLC now owns 2,602,101 shares of the footwear maker's stock worth $196,901,000 after purchasing an additional 2,416,601 shares during the period. Hedge funds and other institutional investors own 64.25% of the company's stock.

NIKE Price Performance

Shares of NYSE:NKE opened at $58.53 on Friday. The firm's 50 day simple moving average is $67.15 and its two-hundred day simple moving average is $73.17. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. The company has a market capitalization of $86.57 billion, a P/E ratio of 18.06, a P/E/G ratio of 2.52 and a beta of 1.15. NIKE, Inc. has a 1-year low of $52.28 and a 1-year 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 return on equity of 36.99% and a net margin of 9.98%. The firm had revenue of $11.27 billion during the quarter, compared to analysts' expectations of $11.02 billion. During the same quarter last year, the business posted $0.98 earnings per share. The firm's revenue was down 9.1% on a year-over-year basis. Research analysts expect that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 3rd were given a $0.40 dividend. The ex-dividend date was Monday, March 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.73%. NIKE's dividend payout ratio is currently 53.16%.

Insider Activity

In related news, Chairman Mark G. Parker sold 169,732 shares of NIKE stock in a transaction dated 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 transaction, the chairman now owns 896,632 shares in the company, 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 legal filing with the SEC, which is accessible through this hyperlink. Also, Director Robert Holmes Swan acquired 8,600 shares of the stock in a transaction dated Friday, April 4th. The stock was bought 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 directly owns 31,983 shares in the company, valued at approximately $1,869,726.18. The trade was a 36.78 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 1.10% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on NKE. Berenberg Bank started coverage on NIKE in a research report on Tuesday, April 15th. They issued a "hold" rating and a $58.00 price target on the stock. Williams Trading dropped their target price on NIKE from $93.00 to $73.00 and set a "buy" rating on the stock in a report on Monday. Truist Financial reduced their price target on NIKE from $90.00 to $82.00 and set a "buy" rating for the company in a report on Friday, March 21st. China Renaissance started coverage on shares of NIKE in a research report on Wednesday, March 19th. They set a "hold" rating on the stock. Finally, Telsey Advisory Group reaffirmed a "market perform" rating and issued a $80.00 target price on shares of NIKE in a report on Monday, March 17th. Sixteen research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $83.19.

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.

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