NIKE, Inc. (NYSE:NKE) Shares Sold by Flossbach Von Storch AG

Flossbach Von Storch AG lessened its holdings in shares of NIKE, Inc. (NYSE:NKE) by 43.2% in the 4th quarter, Holdings Channel reports. The fund owned 2,344,422 shares of the footwear maker’s stock after selling 1,784,165 shares during the quarter. NIKE accounts for 1.2% of Flossbach Von Storch AG’s holdings, making the stock its 22nd largest holding. Flossbach Von Storch AG’s holdings in NIKE were worth $254,534,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. BCK Partners Inc. purchased a new stake in NIKE in the 1st quarter valued at $2,839,000. Loomis Sayles & Co. L P raised its stake in NIKE by 138.2% during the first quarter. Loomis Sayles & Co. L P now owns 11,233 shares of the footwear maker’s stock worth $1,511,000 after purchasing an additional 6,518 shares during the period. Merit Financial Group LLC boosted its holdings in NIKE by 13.3% in the 1st quarter. Merit Financial Group LLC now owns 1,588 shares of the footwear maker’s stock valued at $214,000 after purchasing an additional 186 shares during the last quarter. Bridgewater Associates LP purchased a new stake in shares of NIKE in the 1st quarter valued at approximately $278,000. Finally, Federated Hermes Inc. increased its holdings in shares of NIKE by 9.8% during the 1st quarter. Federated Hermes Inc. now owns 433,950 shares of the footwear maker’s stock worth $58,392,000 after buying an additional 38,903 shares during the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Stock Up 1.6 %

NYSE NKE traded up $1.45 on Wednesday, hitting $94.84. 10,179,037 shares of the stock were exchanged, compared to its average volume of 9,585,350. NIKE, Inc. has a fifty-two week low of $88.66 and a fifty-two week high of $128.68. The company has a 50-day moving average price of $98.47 and a 200-day moving average price of $103.42. The company has a quick ratio of 1.89, a current ratio of 2.74 and a debt-to-equity ratio of 0.63. The company has a market cap of $143.15 billion, a PE ratio of 27.89, a PEG ratio of 1.80 and a beta of 1.08.

NIKE (NYSE:NKE) last posted its earnings results on Thursday, March 21st. The footwear maker reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.29. The firm had revenue of $12.43 billion during the quarter, compared to analysts’ expectations of $12.28 billion. NIKE had a return on equity of 39.41% and a net margin of 10.14%. Sell-side analysts anticipate that NIKE, Inc. will post 3.73 EPS for the current fiscal year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 4th were paid a dividend of $0.37 per share. The ex-dividend date of this dividend was Friday, March 1st. This represents a $1.48 annualized dividend and a yield of 1.56%. NIKE’s dividend payout ratio is currently 43.53%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on NKE. Oppenheimer cut NIKE from an “outperform” rating to a “market perform” rating and set a $110.00 price objective on the stock. in a report on Friday, February 16th. JPMorgan Chase & Co. cut their price objective on NIKE from $139.00 to $128.00 and set an “overweight” rating for the company in a research report on Friday, December 22nd. Truist Financial reaffirmed a “hold” rating and issued a $111.00 target price on shares of NIKE in a research report on Tuesday, March 19th. Robert W. Baird lowered their target price on shares of NIKE from $140.00 to $125.00 and set an “outperform” rating for the company in a research note on Friday, March 22nd. Finally, Jefferies Financial Group reduced their price target on shares of NIKE from $110.00 to $100.00 and set a “hold” rating on the stock in a research note on Friday, March 22nd. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $116.26.

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.