Sei Investments Co. Has $73.12 Million Stock Holdings in NIKE, Inc. (NYSE:NKE)

Sei Investments Co. trimmed its position in NIKE, Inc. (NYSE:NKE) by 6.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 777,972 shares of the footwear maker’s stock after selling 49,880 shares during the period. Sei Investments Co. owned approximately 0.05% of NIKE worth $73,116,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Annapolis Financial Services LLC raised its holdings in NIKE by 440.0% during the 1st quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock worth $25,000 after buying an additional 220 shares during the period. Iron Horse Wealth Management LLC raised its holdings in NIKE by 120.7% during the 4th quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock worth $28,000 after buying an additional 140 shares during the period. Planned Solutions Inc. acquired a new stake in NIKE during the 4th quarter worth approximately $29,000. True Wealth Design LLC raised its holdings in NIKE by 106.4% during the 4th quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock worth $32,000 after buying an additional 150 shares during the period. Finally, Frank Rimerman Advisors LLC acquired a new stake in shares of NIKE in the fourth quarter valued at approximately $33,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other NIKE news, Director Robert Holmes Swan bought 2,941 shares of the stock in a transaction on Friday, June 28th. The stock was purchased at an average price of $77.02 per share, with a total value of $226,515.82. Following the completion of the purchase, the director now owns 20,946 shares in the company, valued at $1,613,260.92. The purchase was disclosed in a filing with the SEC, which is accessible through this link. In other news, Director Robert Holmes Swan purchased 2,941 shares of NIKE stock in a transaction dated Friday, June 28th. The shares were bought at an average cost of $77.02 per share, for a total transaction of $226,515.82. Following the completion of the acquisition, the director now owns 20,946 shares in the company, valued at approximately $1,613,260.92. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Mark G. Parker sold 168,378 shares of the business’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 sale, the chairman now owns 1,102,090 shares in the company, valued at $102,648,662.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 213,660 shares of company stock valued at $19,946,333. 0.50% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on NKE shares. Raymond James reiterated a “market perform” rating on shares of NIKE in a report on Friday, June 28th. BMO Capital Markets decreased their target price on shares of NIKE from $118.00 to $100.00 and set an “outperform” rating for the company in a research note on Friday, June 28th. HSBC decreased their target price on shares of NIKE from $100.00 to $90.00 and set a “hold” rating for the company in a research note on Friday, June 28th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $83.00 target price (down from $116.00) on shares of NIKE in a research note on Friday, June 28th. Finally, Truist Financial decreased their target price on shares of NIKE from $99.00 to $81.00 and set a “hold” rating for the company in a research note on Friday, June 28th. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, NIKE currently has an average rating of “Hold” and an average price target of $96.44.

NIKE Price Performance

NKE stock traded down $2.11 during midday trading on Monday, reaching $71.31. The company had a trading volume of 20,225,521 shares, compared to its average volume of 11,261,712. The company has a market capitalization of $107.63 billion, a price-to-earnings ratio of 19.34, a price-to-earnings-growth ratio of 1.88 and a beta of 1.01. The stock has a 50 day moving average price of $89.52 and a 200-day moving average price of $95.91. NIKE, Inc. has a 1-year low of $71.24 and a 1-year high of $123.39. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.40 and a quick ratio of 1.69.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. The business had revenue of $12.60 billion during the quarter, compared to the consensus estimate of $12.86 billion. NIKE had a return on equity of 42.63% and a net margin of 11.10%. NIKE’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.66 earnings per share. Equities research analysts expect that NIKE, Inc. will post 3.17 earnings per share for the current year.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Monday, June 3rd were paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 2.08%. The ex-dividend date was Monday, June 3rd. NIKE’s payout ratio is 39.68%.

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.