NIKE, Inc. (NYSE:NKE) Shares Sold by Montag & Caldwell LLC

Montag & Caldwell LLC lowered its position in NIKE, Inc. (NYSE:NKE) by 20.1% during the second quarter, HoldingsChannel reports. The firm owned 39,061 shares of the footwear maker’s stock after selling 9,818 shares during the period. Montag & Caldwell LLC’s holdings in NIKE were worth $2,944,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Vanguard Group Inc. boosted its position in NIKE by 0.5% during the first quarter. Vanguard Group Inc. now owns 110,044,821 shares of the footwear maker’s stock worth $10,342,012,000 after acquiring an additional 501,792 shares during the last quarter. Capital International Investors boosted its holdings in shares of NIKE by 34.9% during the 4th quarter. Capital International Investors now owns 27,609,613 shares of the footwear maker’s stock worth $2,997,628,000 after purchasing an additional 7,143,775 shares during the last quarter. Price T Rowe Associates Inc. MD grew 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 valued at $1,860,395,000 after purchasing an additional 7,996,434 shares in the last quarter. Fisher Asset Management LLC increased its holdings in shares of NIKE by 2.2% in 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 purchasing an additional 211,360 shares during the last quarter. Finally, Jennison Associates LLC boosted its stake in NIKE by 45.6% during the first quarter. Jennison Associates LLC now owns 8,859,580 shares of the footwear maker’s stock worth $832,623,000 after buying an additional 2,775,510 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Stock Up 0.8 %

NIKE stock opened at $79.01 on Monday. The stock’s fifty day moving average is $77.23 and its two-hundred day moving average is $87.64. The stock has a market cap of $118.46 billion, a PE ratio of 21.18, a P/E/G ratio of 2.08 and a beta of 1.02. NIKE, Inc. has a 1-year low of $70.75 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 released its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.16. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The company had revenue of $12.60 billion for the quarter, compared to analysts’ expectations of $12.86 billion. During the same quarter last year, the company earned $0.66 earnings per share. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. On average, sell-side analysts expect that NIKE, Inc. will post 3.06 EPS for the current fiscal year.

NIKE Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd will be given 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 1.87%. NIKE’s dividend payout ratio (DPR) is presently 39.68%.

Insider Buying and Selling at NIKE

In other news, Director Robert Holmes Swan bought 2,941 shares of the business’s stock in a transaction dated Friday, June 28th. The shares were acquired at an average price of $77.02 per share, for a total transaction of $226,515.82. Following the completion of the transaction, the director now owns 20,946 shares of the company’s stock, valued at $1,613,260.92. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Chairman Mark G. Parker sold 110,000 shares of the stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the completion of the sale, the chairman now owns 1,102,090 shares in the company, valued at approximately $80,419,507.30. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Robert Holmes Swan acquired 2,941 shares of the company’s stock in a transaction on Friday, June 28th. The stock was acquired at an average price of $77.02 per share, for a total transaction of $226,515.82. Following the completion of the purchase, the director now owns 20,946 shares of the company’s stock, valued at approximately $1,613,260.92. The disclosure for this purchase can be found here. 0.50% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. BMO Capital Markets cut their target price on NIKE from $118.00 to $100.00 and set an “outperform” rating for the company in a research note on Friday, June 28th. The Goldman Sachs Group reduced their target price on shares of NIKE from $118.00 to $105.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. Guggenheim cut their price target on shares of NIKE from $130.00 to $115.00 and set a “buy” rating for the company in a report on Friday, June 28th. Truist Financial reduced their price target on shares of NIKE from $99.00 to $81.00 and set a “hold” rating on the stock in a research report on Friday, June 28th. Finally, UBS Group reiterated a “neutral” rating and issued a $78.00 price objective on shares of NIKE in a research report on Friday, June 28th. Fifteen research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $95.59.

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.