Gulf International Bank UK Ltd Decreases Holdings in NIKE, Inc. (NYSE:NKE)

Gulf International Bank UK Ltd trimmed its stake in shares of NIKE, Inc. (NYSE:NKE) by 25.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 68,895 shares of the footwear maker’s stock after selling 23,804 shares during the period. Gulf International Bank UK Ltd’s holdings in NIKE were worth $4,373,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Spire Wealth Management raised its position in shares of NIKE by 4.4% in the first quarter. Spire Wealth Management now owns 9,872 shares of the footwear maker’s stock valued at $627,000 after buying an additional 416 shares during the last quarter. Capitolis Liquid Global Markets LLC raised its position 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 raised its position in shares of NIKE by 8.3% in the fourth quarter. Janus Henderson Group PLC now owns 6,081,021 shares of the footwear maker’s stock valued at $460,160,000 after buying an additional 463,470 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich raised its position in shares of NIKE by 0.6% in the first quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,008,340 shares of the footwear maker’s stock valued at $69,932,000 after buying an additional 5,601 shares during the last quarter. Finally, Evergreen Capital Management LLC raised its position in shares of NIKE by 3.3% in the fourth quarter. Evergreen Capital Management LLC now owns 237,199 shares of the footwear maker’s stock valued at $18,042,000 after buying an additional 7,536 shares during the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on NKE. Needham & Company LLC increased their target price on shares of NIKE from $66.00 to $78.00 and gave the company a “buy” rating in a research report on Friday, June 27th. Barclays lifted their target price on shares of NIKE from $53.00 to $64.00 and gave the stock an “equal weight” rating in a research note on Friday, June 27th. The Goldman Sachs Group lifted their target price on shares of NIKE from $72.00 to $81.00 and gave the stock a “buy” rating in a research note on Friday, June 27th. Truist Financial reduced their target price on shares of NIKE from $82.00 to $73.00 and set a “buy” rating on the stock in a research note on Tuesday, June 24th. Finally, Piper Sandler lifted their target price on shares of NIKE from $70.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, June 27th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, NIKE has an average rating of “Moderate Buy” and an average target price of $78.22.

NIKE Stock Up 3.2%

Shares of NIKE stock opened at $77.28 on Thursday. NIKE, Inc. has a 52-week low of $52.28 and a 52-week high of $90.62. The company has a 50 day moving average of $70.49 and a 200 day moving average of $67.67. The company has a quick ratio of 1.50, a current ratio of 2.21 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $114.13 billion, a P/E ratio of 35.78, a P/E/G ratio of 2.72 and a beta of 1.27.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.02. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The company had revenue of $11.10 billion during the quarter, compared to the consensus estimate of $10.69 billion. During the same quarter in the previous year, the firm earned $0.99 earnings per share. The firm’s quarterly revenue was down 11.9% on a year-over-year basis. As a group, research analysts forecast that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd will be paid a $0.40 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.1%. NIKE’s payout ratio is currently 74.07%.

Insider Transactions at NIKE

In related news, Chairman Mark G. Parker sold 110,000 shares of NIKE 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 owned 842,361 shares in the company, valued at $60,894,276.69. The trade was a 11.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.80% of the stock is owned by corporate insiders.

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.