Corebridge Financial Inc. Sells 19,080 Shares of NIKE, Inc. (NYSE:NKE)

Corebridge Financial Inc. lessened its holdings in NIKE, Inc. (NYSE:NKE) by 6.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 273,637 shares of the footwear maker’s stock after selling 19,080 shares during the quarter. Corebridge Financial Inc.’s holdings in NIKE were worth $20,706,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Pacer Advisors Inc. lifted its holdings in shares of 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 purchasing an additional 6,709,985 shares during the period. Loomis Sayles & Co. L P lifted its holdings in NIKE by 1,209,638.7% during the 3rd quarter. Loomis Sayles & Co. L P now owns 6,508,394 shares of the footwear maker’s stock worth $575,342,000 after buying an additional 6,507,856 shares during the period. Bank of New York Mellon Corp grew its position in shares of NIKE by 18.1% in the 4th quarter. Bank of New York Mellon Corp now owns 20,367,993 shares of the footwear maker’s stock valued at $1,541,246,000 after buying an additional 3,121,929 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in shares of NIKE by 358.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 3,015,267 shares of the footwear maker’s stock valued at $228,165,000 after buying an additional 2,357,745 shares during the period. Finally, Raymond James Financial Inc. bought a new position in shares of NIKE during the fourth quarter worth about $156,438,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Trading Down 0.7 %

Shares of NKE stock opened at $67.45 on Tuesday. The business’s fifty day moving average is $74.61 and its 200 day moving average is $77.31. NIKE, Inc. has a 52-week low of $65.17 and a 52-week high of $98.04. The company has a market capitalization of $99.76 billion, a PE ratio of 20.82, a price-to-earnings-growth ratio of 2.52 and a beta of 1.02. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.26. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The firm had revenue of $11.27 billion for the quarter, compared to analysts’ expectations of $11.02 billion. During the same quarter last year, the company posted $0.98 EPS. The business’s quarterly revenue was down 9.1% on a year-over-year basis. On average, equities research analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be given a dividend of $0.40 per share. The ex-dividend date is Monday, March 3rd. This represents a $1.60 annualized dividend and a dividend yield of 2.37%. NIKE’s dividend payout ratio (DPR) is presently 53.16%.

Insider Activity

In other NIKE news, Chairman Mark G. Parker sold 169,732 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the transaction, the chairman now directly owns 896,632 shares in the company, valued at $65,301,708.56. This trade represents a 15.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John W. Rogers, Jr. acquired 2,500 shares of the stock in a transaction dated Friday, December 27th. The stock was acquired at an average price of $76.65 per share, with a total value of $191,625.00. Following the completion of the acquisition, the director now owns 34,403 shares in the company, valued at approximately $2,636,989.95. The trade was a 7.84 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

NKE has been the subject of a number of recent analyst reports. DA Davidson raised shares of NIKE to a “strong-buy” rating in a research report on Monday, December 23rd. Needham & Company LLC lowered their target price on shares of NIKE from $84.00 to $80.00 and set a “buy” rating for the company in a research note on Monday, March 17th. UBS Group cut their price target on shares of NIKE from $73.00 to $66.00 and set a “neutral” rating on the stock in a research report on Friday. Robert W. Baird lowered their price objective on NIKE from $105.00 to $99.00 and set an “outperform” rating for the company in a research report on Friday. Finally, Citigroup lowered NIKE from a “buy” rating to a “neutral” rating and cut their target price for the company from $102.00 to $72.00 in a research report on Friday, February 7th. Fifteen equities 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, NIKE has an average rating of “Moderate Buy” and a consensus target price of $87.38.

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.