Vista Capital Partners Inc. Trims Stock Position in NIKE, Inc. (NYSE:NKE)

Vista Capital Partners Inc. lessened its stake in NIKE, Inc. (NYSE:NKE) by 1.5% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 19,225 shares of the footwear maker’s stock after selling 297 shares during the period. NIKE comprises approximately 0.1% of Vista Capital Partners Inc.’s portfolio, making the stock its 26th largest position. Vista Capital Partners Inc.’s holdings in NIKE were worth $1,220,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of NKE. Spire Wealth Management grew its stake in NIKE by 4.4% during the 1st quarter. Spire Wealth Management now owns 9,872 shares of the footwear maker’s stock worth $627,000 after buying an additional 416 shares during the last quarter. Renaissance Technologies LLC increased its stake in NIKE by 1,302.7% in the fourth quarter. Renaissance Technologies LLC now owns 2,602,101 shares of the footwear maker’s stock valued at $196,901,000 after purchasing an additional 2,416,601 shares during the period. Capitolis Liquid Global Markets LLC raised its holdings in shares of NIKE by 40.9% in the fourth quarter. Capitolis Liquid Global Markets LLC now owns 310,000 shares of the footwear maker’s stock valued at $23,458,000 after buying an additional 90,000 shares during the last quarter. Janus Henderson Group PLC boosted its stake in shares of NIKE by 8.3% during the fourth quarter. Janus Henderson Group PLC now owns 6,081,021 shares of the footwear maker’s stock worth $460,160,000 after buying an additional 463,470 shares during the period. Finally, Evergreen Capital Management LLC boosted its stake in shares of NIKE by 3.3% during the fourth quarter. Evergreen Capital Management LLC now owns 237,199 shares of the footwear maker’s stock worth $18,042,000 after buying an additional 7,536 shares during the period. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $72.29, for a total value of $7,951,900.00. Following the completion of the transaction, the chairman directly owned 842,361 shares in the company, valued at $60,894,276.69. This represents a 11.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.10% of the stock is currently owned by company insiders.

NIKE Trading Up 1.9%

NKE stock traded up $1.38 during midday trading on Monday, hitting $73.85. The stock had a trading volume of 497,416 shares, compared to its average volume of 15,055,866. The business has a fifty day moving average price of $65.49 and a two-hundred day moving average price of $67.17. NIKE, Inc. has a 1-year low of $52.28 and a 1-year high of $90.62. The firm has a market cap of $109.24 billion, a P/E ratio of 34.10, a price-to-earnings-growth ratio of 2.66 and a beta of 1.25. The company has a current ratio of 2.21, a quick ratio of 1.50 and a debt-to-equity ratio of 0.60.

NIKE (NYSE:NKE) last issued its earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.02. The business had revenue of $11.10 billion for the quarter, compared to analysts’ expectations of $10.69 billion. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The business’s revenue for the quarter was down 11.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.99 EPS. On average, sell-side analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Monday, June 2nd were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.17%. The ex-dividend date was Monday, June 2nd. NIKE’s dividend payout ratio (DPR) is currently 74.07%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Truist Financial reduced their price target on NIKE from $82.00 to $73.00 and set a “buy” rating on the stock in a research note on Tuesday, June 24th. HSBC raised NIKE from a “hold” rating to a “buy” rating and set a $80.00 target price on the stock in a research report on Friday, June 27th. Wells Fargo & Company boosted their price objective on NIKE from $55.00 to $60.00 and gave the company an “equal weight” rating in a report on Wednesday, May 14th. Barclays upped their target price on NIKE from $53.00 to $64.00 and gave the company an “equal weight” rating in a report on Friday, June 27th. Finally, UBS Group assumed coverage on NIKE in a research report on Sunday, July 6th. They issued a “buy” rating on the stock. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, sixteen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, NIKE presently has an average rating of “Moderate Buy” and a consensus target price of $77.15.

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.