GFS Advisors LLC Lowers Stock Holdings in NIKE, Inc. (NYSE:NKE)

GFS Advisors LLC lowered its position in NIKE, Inc. (NYSE:NKE) by 1.9% in the first quarter, Holdings Channel.com reports. The firm owned 168,693 shares of the footwear maker’s stock after selling 3,238 shares during the quarter. NIKE makes up about 2.2% of GFS Advisors LLC’s holdings, making the stock its 17th largest position. GFS Advisors LLC’s holdings in NIKE were worth $10,709,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of NIKE during the 4th quarter worth approximately $1,126,288,000. Wellington Management Group LLP raised its position in shares of NIKE by 32.4% during the 4th quarter. Wellington Management Group LLP now owns 36,340,736 shares of the footwear maker’s stock worth $2,749,903,000 after purchasing an additional 8,898,591 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of NIKE by 18.1% during the 4th quarter. Bank of New York Mellon Corp now owns 20,367,993 shares of the footwear maker’s stock worth $1,541,246,000 after purchasing an additional 3,121,929 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of NIKE by 1,302.7% during the 4th quarter. Renaissance Technologies LLC now owns 2,602,101 shares of the footwear maker’s stock worth $196,901,000 after purchasing an additional 2,416,601 shares during the last quarter. Finally, Capital World Investors raised its position in shares of NIKE by 10.3% during the 4th quarter. Capital World Investors now owns 24,545,937 shares of the footwear maker’s stock worth $1,857,389,000 after purchasing an additional 2,288,627 shares during the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

Insider Transactions at NIKE

In related news, Director Robert Holmes Swan acquired 8,600 shares of the company’s stock in a transaction dated Friday, April 4th. The shares were bought at an average price of $58.46 per share, for a total transaction of $502,756.00. Following the acquisition, the director now owns 31,983 shares in the company, valued at $1,869,726.18. This trade represents a 36.78% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.10% of the company’s stock.

NIKE Stock Performance

NYSE:NKE opened at $59.47 on Thursday. NIKE, Inc. has a 1 year low of $52.28 and a 1 year high of $98.04. The firm’s fifty day simple moving average is $59.57 and its 200 day simple moving average is $68.36. The company has a current ratio of 2.19, a quick ratio of 1.52 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $87.96 billion, a PE ratio of 19.76, a PEG ratio of 2.11 and a beta of 1.21.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.26. NIKE had a net margin of 9.43% and a return on equity of 32.18%. The company had revenue of $11.27 billion for the quarter, compared to analyst estimates of $11.02 billion. During the same period last year, the business posted $0.98 EPS. The business’s quarterly revenue was down 9.1% on a year-over-year basis. On average, sell-side analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be issued a dividend of $0.40 per share. The ex-dividend date is Monday, June 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.69%. NIKE’s payout ratio is 53.16%.

Wall Street Analysts Forecast Growth

Several research firms have commented on NKE. JPMorgan Chase & Co. lowered their target price on shares of NIKE from $64.00 to $56.00 and set a “neutral” rating for the company in a research note on Monday, May 5th. China Renaissance began coverage on shares of NIKE in a research note on Wednesday, March 19th. They issued a “hold” rating for the company. Barclays lowered their target price on shares of NIKE from $60.00 to $53.00 and set an “equal weight” rating for the company in a research note on Wednesday. Royal Bank Of Canada lowered their price objective on shares of NIKE from $66.00 to $65.00 and set a “sector perform” rating for the company in a research note on Tuesday, May 20th. Finally, Piper Sandler lowered their price objective on shares of NIKE from $90.00 to $70.00 and set an “overweight” rating for the company in a research note on Friday, April 11th. Seventeen equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $79.15.

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.