NIKE, Inc. (NYSE:NKE) Shares Sold by Panoramic Capital Partners LLC

Panoramic Capital Partners LLC cut its holdings in NIKE, Inc. (NYSE:NKE) by 8.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,517 shares of the footwear maker’s stock after selling 409 shares during the quarter. Panoramic Capital Partners LLC’s holdings in NIKE were worth $287,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in NKE. Renaissance Technologies LLC grew its position in shares of NIKE by 1,302.7% in the fourth quarter. Renaissance Technologies LLC now owns 2,602,101 shares of the footwear maker’s stock valued at $196,901,000 after purchasing an additional 2,416,601 shares in the last quarter. Capitolis Liquid Global Markets LLC raised its position in 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 purchasing an additional 90,000 shares during the period. Janus Henderson Group PLC lifted its position in shares of NIKE by 8.3% during the fourth quarter. Janus Henderson Group PLC now owns 6,081,021 shares of the footwear maker’s stock worth $460,160,000 after purchasing an additional 463,470 shares in the last quarter. Markel Group Inc. grew its stake in shares of NIKE by 0.8% in the fourth quarter. Markel Group Inc. now owns 432,400 shares of the footwear maker’s stock worth $32,720,000 after acquiring an additional 3,500 shares in the last quarter. Finally, Evergreen Capital Management LLC boosted its stake in shares of NIKE by 3.3% in the 4th 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 period. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at NIKE

In other news, Director Robert Holmes Swan bought 8,600 shares of the firm’s stock in a transaction on Friday, April 4th. The stock was bought at an average cost of $58.46 per share, for a total transaction of $502,756.00. Following the completion of the acquisition, the director now directly owns 31,983 shares in the company, valued at $1,869,726.18. This represents a 36.78% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.10% of the company’s stock.

NIKE Stock Up 0.2%

NKE stock opened at $62.82 on Monday. The firm’s 50-day simple moving average is $58.86 and its 200 day simple moving average is $69.15. NIKE, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $98.04. The stock has a market cap of $92.92 billion, a PE ratio of 19.39, a price-to-earnings-growth ratio of 2.52 and a beta of 1.21. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.26. The business had revenue of $11.27 billion for the quarter, compared to analysts’ expectations of $11.02 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The company’s revenue was down 9.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.98 earnings per share. As a group, sell-side analysts predict that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $1.60 annualized dividend and a yield of 2.55%. NIKE’s dividend payout ratio is currently 53.16%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Guggenheim reaffirmed a “buy” rating and set a $110.00 price target on shares of NIKE in a report on Wednesday, February 12th. Truist Financial cut their price objective on NIKE from $90.00 to $82.00 and set a “buy” rating for the company in a research report on Friday, March 21st. Williams Trading dropped their target price on shares of NIKE from $93.00 to $73.00 and set a “buy” rating for the company in a report on Monday, April 21st. Jefferies Financial Group reaffirmed a “buy” rating on shares of NIKE in a research note on Friday, May 23rd. Finally, UBS Group dropped their price target on NIKE from $73.00 to $66.00 and set a “neutral” rating for the company in a research note on Friday, March 21st. Seventeen investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, NIKE presently has an average rating of “Moderate Buy” and an average price target of $80.26.

NIKE Company 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.