Van Lanschot Kempen Investment Management N.V. Decreases Position in NIKE, Inc. (NYSE:NKE)

Van Lanschot Kempen Investment Management N.V. trimmed its stake in NIKE, Inc. (NYSE:NKE) by 41.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 361,305 shares of the footwear maker’s stock after selling 252,200 shares during the period. Van Lanschot Kempen Investment Management N.V.’s holdings in NIKE were worth $27,340,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Range Financial Group LLC purchased a new position in NIKE during the fourth quarter worth $642,000. Cacti Asset Management LLC purchased a new position in shares of NIKE during the 4th quarter worth about $9,987,000. Capricorn Fund Managers Ltd bought a new position in NIKE during the 4th quarter valued at about $5,384,000. Klein Pavlis & Peasley Financial Inc. raised its position in NIKE by 31.1% in the 4th quarter. Klein Pavlis & Peasley Financial Inc. now owns 25,835 shares of the footwear maker’s stock worth $1,955,000 after purchasing an additional 6,124 shares during the period. Finally, FNY Investment Advisers LLC lifted its stake in NIKE by 5,745.9% in the fourth quarter. FNY Investment Advisers LLC now owns 8,652 shares of the footwear maker’s stock worth $654,000 after purchasing an additional 8,504 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Insider Activity

In other NIKE news, Chairman Mark G. Parker sold 169,732 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $72.83, for a total value of $12,361,581.56. Following the completion of the transaction, the chairman now directly owns 896,632 shares of the company’s stock, valued at approximately $65,301,708.56. The trade was a 15.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Robert Holmes Swan purchased 8,600 shares of the stock in a transaction that occurred on Friday, April 4th. The shares were purchased at an average cost of $58.46 per share, for a total transaction of $502,756.00. Following the completion of the acquisition, the director now directly owns 31,983 shares of the company’s stock, valued at $1,869,726.18. This represents a 36.78 % increase in their position. The disclosure for this purchase can be found here. Insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Wells Fargo & Company reduced their price target on NIKE from $90.00 to $85.00 and set an “overweight” rating on the stock in a report on Friday, March 21st. Berenberg Bank started coverage on NIKE in a research report on Tuesday, April 15th. They set a “hold” rating and a $58.00 target price for the company. BMO Capital Markets cut their price target on shares of NIKE from $95.00 to $92.00 and set an “outperform” rating on the stock in a report on Friday, March 21st. Piper Sandler reduced their price target on shares of NIKE from $90.00 to $70.00 and set an “overweight” rating on the stock in a research note on Friday, April 11th. Finally, Telsey Advisory Group reissued a “market perform” rating and issued a $80.00 price objective on shares of NIKE in a research report on Monday, March 17th. Sixteen analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $85.15.

NIKE Price Performance

NYSE NKE opened at $55.73 on Monday. The company has a market cap of $82.44 billion, a price-to-earnings ratio of 17.20, a PEG ratio of 2.52 and a beta of 1.15. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. The stock’s fifty day moving average price is $68.39 and its 200 day moving average price is $73.73. NIKE, Inc. has a 1 year low of $52.28 and a 1 year high of $98.04.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.26. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The business had revenue of $11.27 billion for the quarter, compared to analyst estimates of $11.02 billion. During the same period in the prior year, the company earned $0.98 earnings per share. The company’s revenue was down 9.1% on a year-over-year basis. As a group, equities research analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date was Monday, March 3rd. NIKE’s dividend payout ratio is presently 53.16%.

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.