IFG Advisors LLC Has $355,000 Position in NIKE, Inc. (NYSE:NKE)

IFG Advisors LLC reduced its holdings in NIKE, Inc. (NYSE:NKE) by 6.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,595 shares of the footwear maker’s stock after selling 367 shares during the period. IFG Advisors LLC’s holdings in NIKE were worth $355,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Wellington Management Group LLP increased its stake in NIKE by 32.4% in the 4th quarter. Wellington Management Group LLP now owns 36,340,736 shares of the footwear maker’s stock valued at $2,749,903,000 after buying an additional 8,898,591 shares during the last quarter. Geode Capital Management LLC grew its position in shares of NIKE by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 25,376,558 shares of the footwear maker’s stock valued at $1,915,110,000 after acquiring an additional 347,178 shares during the period. Capital World Investors grew its position in shares of NIKE by 10.3% in the 4th quarter. Capital World Investors now owns 24,545,937 shares of the footwear maker’s stock valued at $1,857,389,000 after acquiring an additional 2,288,627 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 acquiring an additional 3,121,929 shares during the period. Finally, Norges Bank bought a new position in shares of NIKE in the 4th quarter valued at about $1,126,288,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently commented on NKE shares. The Goldman Sachs Group decreased their price objective on shares of NIKE from $88.00 to $72.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. Dbs Bank raised shares of NIKE from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. Stifel Nicolaus decreased their price objective on shares of NIKE from $75.00 to $64.00 and set a “hold” rating for the company in a research report on Thursday, April 10th. Telsey Advisory Group decreased their price objective on shares of NIKE from $80.00 to $70.00 and set a “market perform” rating for the company in a research report on Tuesday, May 6th. Finally, Truist Financial decreased their price objective on shares of NIKE from $90.00 to $82.00 and set a “buy” rating for the company in a research report on Friday, March 21st. Seventeen investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, NIKE has a consensus rating of “Moderate Buy” and an average price target of $80.26.

NIKE Price Performance

Shares of NIKE stock opened at $60.52 on Friday. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $98.04. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. The company has a 50-day simple moving average of $59.08 and a two-hundred day simple moving average of $69.67. The stock has a market capitalization of $89.52 billion, a price-to-earnings ratio of 18.68, a price-to-earnings-growth ratio of 2.52 and a beta of 1.23.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, topping 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 business had revenue of $11.27 billion during the quarter, compared to analysts’ expectations of $11.02 billion. During the same quarter in the previous year, the company earned $0.98 EPS. The business’s revenue was down 9.1% on a year-over-year basis. Analysts forecast that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.64%. The ex-dividend date is Monday, June 2nd. NIKE’s payout ratio is presently 53.16%.

Insider Activity

In other news, Director Robert Holmes Swan bought 8,600 shares of the company’s stock in a transaction dated Friday, April 4th. The stock was bought at an average cost of $58.46 per share, for a total transaction of $502,756.00. Following the transaction, the director now owns 31,983 shares of the company’s stock, valued at $1,869,726.18. This represents a 36.78% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.10% 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.