NIKE, Inc. (NYSE:NKE) Position Reduced by Candriam S.C.A.

Candriam S.C.A. trimmed its position in NIKE, Inc. (NYSE:NKE) by 41.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 430,208 shares of the footwear maker’s stock after selling 300,088 shares during the quarter. Candriam S.C.A.’s holdings in NIKE were worth $32,423,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in NIKE by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 110,044,821 shares of the footwear maker’s stock worth $10,342,012,000 after purchasing an additional 501,792 shares during the period. Capital International Investors lifted its holdings in shares of NIKE by 34.9% in the fourth quarter. Capital International Investors now owns 27,609,613 shares of the footwear maker’s stock valued at $2,997,628,000 after purchasing an additional 7,143,775 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of NIKE by 87.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 17,135,431 shares of the footwear maker’s stock worth $1,860,395,000 after buying an additional 7,996,434 shares during the period. Norges Bank purchased a new position in shares of NIKE during the fourth quarter valued at $1,315,097,000. Finally, Fisher Asset Management LLC raised its position in NIKE by 2.2% during the fourth quarter. Fisher Asset Management LLC now owns 9,880,038 shares of the footwear maker’s stock valued at $1,072,676,000 after buying an additional 211,360 shares during the period. 64.25% of the stock is owned by hedge funds and other institutional investors.

NIKE Stock Down 0.2 %

NKE stock opened at $80.64 on Friday. The business’s 50-day simple moving average is $76.94 and its 200 day simple moving average is $88.78. The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.55. The company has a market cap of $121.71 billion, a PE ratio of 21.62, a price-to-earnings-growth ratio of 2.19 and a beta of 1.01. NIKE, Inc. has a twelve month low of $70.75 and a twelve month high of $123.39.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. The business had revenue of $12.60 billion for the quarter, compared to analysts’ expectations of $12.86 billion. NIKE had a return on equity of 42.63% and a net margin of 11.10%. NIKE’s quarterly revenue was down 1.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.66 earnings per share. On average, research analysts anticipate that NIKE, Inc. will post 3.1 earnings per share for the current year.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd will be paid a $0.37 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.48 dividend on an annualized basis and a yield of 1.84%. NIKE’s payout ratio is currently 39.68%.

Wall Street Analysts Forecast Growth

NKE has been the topic of several research analyst reports. Wells Fargo & Company lowered their target price on NIKE from $115.00 to $92.00 and set an “overweight” rating on the stock in a research note on Friday, June 28th. Truist Financial dropped their price objective on shares of NIKE from $99.00 to $81.00 and set a “hold” rating on the stock in a research note on Friday, June 28th. Citigroup decreased their target price on shares of NIKE from $115.00 to $102.00 and set a “buy” rating for the company in a research note on Friday, June 28th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $83.00 price target (down from $116.00) on shares of NIKE in a research note on Friday, June 28th. Finally, Royal Bank of Canada reduced their price objective on NIKE from $100.00 to $75.00 and set a “sector perform” rating for the company in a research report on Tuesday, July 2nd. Fifteen 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 price target of $95.59.

Insider Buying and Selling

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 stock was sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the sale, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at $80,435,628. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Robert Holmes Swan bought 2,941 shares of NIKE stock in a transaction dated Friday, June 28th. The shares were bought at an average price of $77.02 per share, for a total transaction of $226,515.82. Following the purchase, the director now owns 20,946 shares of the company’s stock, valued at $1,613,260.92. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Mark G. Parker sold 52,487 shares of the stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the sale, the chairman now owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. The disclosure for this sale can be found here. Company insiders own 0.50% of the company’s stock.

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.