NIKE, Inc. (NYSE:NKE) Shares Sold by Comgest Global Investors S.A.S.

Comgest Global Investors S.A.S. trimmed its holdings in NIKE, Inc. (NYSE:NKE) by 2.4% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,370,882 shares of the footwear maker’s stock after selling 34,295 shares during the quarter. NIKE comprises approximately 1.4% of Comgest Global Investors S.A.S.’s portfolio, making the stock its 18th biggest position. Comgest Global Investors S.A.S. owned approximately 0.09% of NIKE worth $103,323,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Annapolis Financial Services LLC grew its position in shares of NIKE by 440.0% in the 1st quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock valued at $25,000 after buying an additional 220 shares during the last quarter. True Wealth Design LLC boosted its stake in NIKE by 106.4% in the fourth quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock valued at $32,000 after acquiring an additional 150 shares in the last quarter. Core Wealth Advisors Inc. grew its holdings in shares of NIKE by 408.5% during the fourth quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock worth $33,000 after purchasing an additional 241 shares during the last quarter. Frank Rimerman Advisors LLC purchased a new position in shares of NIKE during the fourth quarter worth about $33,000. Finally, Gold Investment Management Ltd. purchased a new position in shares of NIKE during the fourth quarter worth about $36,000. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

NIKE Trading Up 0.1 %

Shares of NIKE stock opened at $83.32 on Tuesday. 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, Inc. has a 1 year low of $70.75 and a 1 year high of $123.39. The company has a market capitalization of $125.76 billion, a P/E ratio of 22.34, a P/E/G ratio of 2.19 and a beta of 1.01. The business has a 50 day moving average price of $77.63 and a 200 day moving average price of $89.21.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.16. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The firm had revenue of $12.60 billion during the quarter, compared to the consensus estimate of $12.86 billion. During the same period in the previous year, the firm posted $0.66 EPS. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. Sell-side analysts anticipate that NIKE, Inc. will post 3.1 EPS for the current fiscal year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd will be paid a $0.37 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $1.48 annualized dividend and a yield of 1.78%. NIKE’s payout ratio is currently 39.68%.

Analyst Ratings Changes

Several brokerages have issued reports on NKE. StockNews.com lowered NIKE from a “buy” rating to a “hold” rating in a report on Friday, June 21st. Citigroup dropped their price objective on NIKE from $115.00 to $102.00 and set a “buy” rating on the stock in a report on Friday, June 28th. Raymond James reissued a “market perform” rating on shares of NIKE in a report on Friday, June 28th. Royal Bank of Canada lowered their price target on NIKE from $100.00 to $75.00 and set a “sector perform” rating on the stock in a report on Tuesday, July 2nd. Finally, Truist Financial lowered their price target on NIKE from $99.00 to $81.00 and set a “hold” rating on the stock in a report on Friday, June 28th. Fifteen equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $95.59.

Insiders Place Their Bets

In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of NIKE stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total value of $4,093,986.00. Following the completion of the sale, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of NIKE stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total value of $4,093,986.00. Following the completion of the sale, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Mark G. Parker sold 110,000 shares of the company’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $72.97, for a total value of $8,026,700.00. Following the sale, the chairman now owns 1,102,090 shares of the company’s stock, valued at $80,419,507.30. The disclosure for this sale can be found here. 0.50% of the stock is owned by corporate insiders.

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.