Vantage Investment Partners LLC Sells 388,248 Shares of NIKE, Inc. $NKE

Vantage Investment Partners LLC lowered its holdings in NIKE, Inc. (NYSE:NKE) by 66.6% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 194,575 shares of the footwear maker’s stock after selling 388,248 shares during the period. Vantage Investment Partners LLC’s holdings in NIKE were worth $10,277,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in NKE. J. Stern & Co. LLP boosted its position in shares of NIKE by 49,010.4% in the fourth quarter. J. Stern & Co. LLP now owns 48,054,542 shares of the footwear maker’s stock valued at $3,061,555,000 after acquiring an additional 47,956,692 shares during the period. Norges Bank bought a new position in NIKE during the fourth quarter worth $829,956,000. Harris Associates L P bought a new position in NIKE during the second quarter worth $621,525,000. Capital World Investors raised its stake in NIKE by 16.2% during the 4th quarter. Capital World Investors now owns 49,069,951 shares of the footwear maker’s stock valued at $3,126,246,000 after purchasing an additional 6,830,938 shares during the last quarter. Finally, Jasper Ridge Partners L.P. boosted its holdings in NIKE by 2,492.4% in the 4th quarter. Jasper Ridge Partners L.P. now owns 4,883,229 shares of the footwear maker’s stock valued at $311,111,000 after purchasing an additional 4,694,859 shares during the period. 64.25% of the stock is owned by institutional investors.

Analysts Set New Price Targets

NKE has been the topic of several research reports. Jefferies Financial Group dropped their price objective on shares of NIKE from $90.00 to $75.00 and set a “buy” rating on the stock in a report on Wednesday, July 1st. Truist Financial lowered their price target on NIKE from $69.00 to $57.00 and set a “buy” rating on the stock in a research note on Wednesday, April 1st. Wall Street Zen raised NIKE from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. CICC Research downgraded NIKE from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $69.00 to $58.00 in a research report on Monday, April 6th. Finally, Barclays decreased their price objective on NIKE from $67.00 to $52.00 and set an “overweight” rating on the stock in a report on Wednesday, July 1st. Thirteen analysts have rated the stock with a Buy rating, nineteen have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $54.80.

Insider Activity at NIKE

In related news, CEO Elliott Hill acquired 23,660 shares of the company’s stock in a transaction on Monday, April 13th. The stock was purchased at an average cost of $42.27 per share, for a total transaction of $1,000,108.20. Following the completion of the purchase, the chief executive officer directly owned 265,247 shares of the company’s stock, valued at $11,211,990.69. The trade was a 9.79% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Philip Mccartney sold 17,398 shares of the business’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $46.18, for a total transaction of $803,439.64. Following the completion of the sale, the executive vice president owned 53,133 shares in the company, valued at $2,453,681.94. This represents a 24.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.80% of the stock is owned by company insiders.

NIKE Price Performance

Shares of NIKE stock traded up $1.61 during trading on Friday, hitting $44.39. 23,290,306 shares of the company’s stock traded hands, compared to its average volume of 27,765,434. The company has a market cap of $65.73 billion, a PE ratio of 21.24, a PEG ratio of 2.56 and a beta of 1.12. The firm’s fifty day moving average price is $43.71 and its 200 day moving average price is $52.40. NIKE, Inc. has a twelve month low of $40.00 and a twelve month high of $80.17. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.96 and a quick ratio of 1.36.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Tuesday, June 30th. The footwear maker reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.09. The firm had revenue of $10.97 billion during the quarter, compared to analyst estimates of $10.85 billion. NIKE had a net margin of 6.70% and a return on equity of 16.54%. The company’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.14 earnings per share. Analysts forecast that NIKE, Inc. will post 1.76 earnings per share for the current year.

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st were issued a $0.41 dividend. The ex-dividend date of this dividend was Monday, June 1st. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.7%. NIKE’s dividend payout ratio is presently 78.47%.

NIKE Profile

Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).