Intech Investment Management LLC Has $7.39 Million Stake in NIKE, Inc. (NYSE:NKE)

Intech Investment Management LLC reduced its position in NIKE, Inc. (NYSE:NKE) by 4.8% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 68,026 shares of the footwear maker’s stock after selling 3,462 shares during the period. Intech Investment Management LLC’s holdings in NIKE were worth $7,386,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in NKE. Iron Horse Wealth Management LLC raised its position in shares of NIKE by 120.7% during the fourth quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock worth $28,000 after acquiring an additional 140 shares during the last quarter. Planned Solutions Inc. bought a new stake in shares of NIKE during the fourth quarter worth $29,000. Raleigh Capital Management Inc. raised its position in shares of NIKE by 134.2% during the third quarter. Raleigh Capital Management Inc. now owns 377 shares of the footwear maker’s stock worth $36,000 after acquiring an additional 216 shares during the last quarter. Mizuho Securities Co. Ltd. raised its position in shares of NIKE by 100.0% during the fourth quarter. Mizuho Securities Co. Ltd. now owns 340 shares of the footwear maker’s stock worth $37,000 after acquiring an additional 170 shares during the last quarter. Finally, NewSquare Capital LLC raised its position in shares of NIKE by 372.0% during the fourth quarter. NewSquare Capital LLC now owns 354 shares of the footwear maker’s stock worth $38,000 after acquiring an additional 279 shares during the last quarter. Institutional investors own 64.25% of the company’s stock.

Wall Street Analyst Weigh In

NKE has been the subject of a number of analyst reports. Oppenheimer cut NIKE from an “outperform” rating to a “market perform” rating and set a $110.00 price objective for the company. in a research note on Friday, February 16th. Jefferies Financial Group reduced their price objective on NIKE from $110.00 to $100.00 and set a “hold” rating for the company in a research report on Friday, March 22nd. Williams Trading reaffirmed a “sell” rating and set a $85.00 price objective (down from $92.00) on shares of NIKE in a research report on Monday, March 18th. UBS Group reduced their price objective on NIKE from $138.00 to $125.00 and set a “buy” rating for the company in a research report on Friday, March 22nd. Finally, Piper Sandler reduced their price objective on NIKE from $107.00 to $98.00 and set a “neutral” rating for the company in a research report on Friday, March 22nd. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-one have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $116.26.

NIKE Price Performance

Shares of NKE traded up $0.35 during trading hours on Friday, reaching $91.75. The stock had a trading volume of 6,937,118 shares, compared to its average volume of 8,322,999. NIKE, Inc. has a 12 month low of $88.66 and a 12 month high of $123.39. The stock has a market capitalization of $138.48 billion, a PE ratio of 26.99, a PEG ratio of 1.77 and a beta of 1.07. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.89 and a current ratio of 2.74. The company’s 50-day moving average is $93.16 and its two-hundred day moving average is $101.88.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, March 21st. The footwear maker reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.29. NIKE had a return on equity of 39.41% and a net margin of 10.14%. The company had revenue of $12.43 billion during the quarter, compared to analysts’ expectations of $12.28 billion. Research analysts expect that NIKE, Inc. will post 3.73 EPS for the current year.

NIKE Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date of this dividend is Monday, June 3rd. NIKE’s payout ratio is 43.53%.

Insider Buying and Selling

In related news, Chairman Mark G. Parker sold 168,378 shares of the firm’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $93.14, for a total transaction of $15,682,726.92. Following the completion of the transaction, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at approximately $102,648,662.60. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Chairman Mark G. Parker sold 168,378 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $93.14, for a total value of $15,682,726.92. Following the completion of the sale, the chairman now directly owns 1,102,090 shares in the company, valued at approximately $102,648,662.60. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Monique S. Matheson sold 45,000 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $94.16, for a total value of $4,237,200.00. Following the completion of the sale, the executive vice president now owns 44,997 shares of the company’s stock, valued at $4,236,917.52. The disclosure for this sale can be found here. Insiders sold a total of 213,660 shares of company stock valued at $19,946,333 in the last three months. Insiders own 0.50% of the company’s stock.

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.