J. Safra Sarasin Holding AG Lowers Stock Position in NIKE, Inc. $NKE

J. Safra Sarasin Holding AG reduced its stake in NIKE, Inc. (NYSE:NKE) by 9.1% during the second quarter, HoldingsChannel reports. The firm owned 8,249 shares of the footwear maker’s stock after selling 826 shares during the period. J. Safra Sarasin Holding AG’s holdings in NIKE were worth $586,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of NKE. Goldman Sachs Group Inc. raised its stake in NIKE by 344.2% in the first quarter. Goldman Sachs Group Inc. now owns 26,698,835 shares of the footwear maker’s stock valued at $1,694,842,000 after purchasing an additional 20,688,013 shares in the last quarter. Wellington Management Group LLP raised its stake in NIKE by 24.9% in the first quarter. Wellington Management Group LLP now owns 45,383,916 shares of the footwear maker’s stock valued at $2,880,971,000 after purchasing an additional 9,043,180 shares in the last quarter. Jennison Associates LLC purchased a new stake in NIKE in the first quarter valued at approximately $509,051,000. Nuveen LLC purchased a new stake in NIKE in the first quarter valued at approximately $502,285,000. Finally, Vanguard Group Inc. raised its stake in shares of NIKE by 4.6% during the first quarter. Vanguard Group Inc. now owns 113,151,080 shares of the footwear maker’s stock worth $7,182,831,000 after acquiring an additional 4,957,494 shares in the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on NKE. TD Cowen raised shares of NIKE from a “hold” rating to a “buy” rating and lifted their price target for the stock from $62.00 to $85.00 in a research note on Wednesday, September 10th. Royal Bank Of Canada raised shares of NIKE from a “sector perform” rating to an “outperform” rating and lifted their price target for the stock from $76.00 to $90.00 in a research note on Thursday, September 18th. Truist Financial reissued a “buy” rating and set a $85.00 price target on shares of NIKE in a research note on Wednesday. Piper Sandler set a $84.00 price target on shares of NIKE and gave the stock an “overweight” rating in a research note on Wednesday. Finally, Sanford C. Bernstein reissued a “buy” rating and set a $90.00 price target on shares of NIKE in a research note on Wednesday. Three analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $81.57.

Insider Activity at NIKE

In related news, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction 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 transaction, the chairman directly owned 842,361 shares of the company’s stock, 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 filing with the Securities & Exchange Commission, which is available through this link. 0.80% of the stock is currently owned by insiders.

NIKE Stock Down 3.4%

Shares of NYSE NKE opened at $72.01 on Friday. The company has a quick ratio of 1.50, a current ratio of 2.19 and a debt-to-equity ratio of 0.59. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $84.76. The firm’s fifty day moving average is $74.62 and its 200 day moving average is $67.27. The company has a market cap of $106.34 billion, a price-to-earnings ratio of 36.93, a PEG ratio of 2.65 and a beta of 1.29.

NIKE (NYSE:NKE) last issued its earnings results on Tuesday, September 30th. The footwear maker reported $0.49 EPS for the quarter, topping the consensus estimate of $0.27 by $0.22. NIKE had a net margin of 6.23% and a return on equity of 21.16%. The company had revenue of $11.72 billion for the quarter, compared to the consensus estimate of $10.96 billion. During the same period in the previous year, the firm earned $0.70 earnings per share. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. On average, equities research analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend was Tuesday, September 2nd. NIKE’s payout ratio is presently 82.05%.

NIKE Profile

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.