Fiera Capital Corp Lowers Stock Position in NIKE, Inc. (NYSE:NKE)

Fiera Capital Corp trimmed its position in NIKE, Inc. (NYSE:NKE) by 8.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,033,483 shares of the footwear maker’s stock after selling 89,391 shares during the period. Fiera Capital Corp owned approximately 0.07% of NIKE worth $65,606,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC lifted its holdings in NIKE by 388.5% in the fourth quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker’s stock valued at $15,316,000 after acquiring an additional 160,980 shares during the period. Bank Pictet & Cie Europe AG lifted its holdings in NIKE by 10.3% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 190,915 shares of the footwear maker’s stock valued at $14,447,000 after acquiring an additional 17,888 shares during the period. Intrust Bank NA lifted its holdings in NIKE by 12.1% in the fourth quarter. Intrust Bank NA now owns 4,865 shares of the footwear maker’s stock valued at $368,000 after acquiring an additional 525 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in NIKE by 7,238.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,627,424 shares of the footwear maker’s stock valued at $123,147,000 after acquiring an additional 1,605,248 shares during the period. Finally, Schroder Investment Management Group lifted its holdings in NIKE by 12.9% in the fourth quarter. Schroder Investment Management Group now owns 1,940,186 shares of the footwear maker’s stock valued at $144,835,000 after acquiring an additional 221,349 shares during the period. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at NIKE

In other news, Chairman Mark G. Parker sold 110,000 shares of the company’s stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $72.29, for a total transaction of $7,951,900.00. Following the completion of the transaction, the chairman owned 842,361 shares of the company’s stock, valued at $60,894,276.69. This represents a 11.55% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.80% of the stock is currently owned by corporate insiders.

NIKE Trading Up 3.9%

Shares of NKE stock opened at $79.27 on Tuesday. The firm has a 50-day moving average price of $67.15 and a 200 day moving average price of $67.35. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $90.62. The company has a market capitalization of $117.07 billion, a price-to-earnings ratio of 36.70, a PEG ratio of 2.80 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 announced its earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.02. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The firm 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 company posted $0.99 EPS. The firm’s revenue for the quarter was down 11.9% on a year-over-year basis. Research analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date was Monday, June 2nd. NIKE’s dividend payout ratio is currently 74.07%.

Analyst Upgrades and Downgrades

A number of research firms have commented on NKE. Truist Financial reduced their target price on NIKE from $82.00 to $73.00 and set a “buy” rating for the company in a report on Tuesday, June 24th. JPMorgan Chase & Co. raised NIKE from a “neutral” rating to an “overweight” rating and raised their target price for the company from $64.00 to $93.00 in a report on Monday. Deutsche Bank Aktiengesellschaft reduced their target price on NIKE from $77.00 to $71.00 and set a “buy” rating for the company in a report on Friday, June 20th. Wall Street Zen downgraded NIKE from a “hold” rating to a “sell” rating in a report on Friday, June 27th. Finally, Berenberg Bank initiated coverage on NIKE in a research note on Tuesday, April 15th. They set a “hold” rating and a $58.00 price target for the company. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, seventeen have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $78.22.

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.