MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Lowers Position in NIKE, Inc. (NYSE:NKE)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH reduced its stake in shares of NIKE, Inc. (NYSE:NKE) by 3.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 137,339 shares of the footwear maker’s stock after selling 5,430 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in NIKE were worth $12,907,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Iron Horse Wealth Management LLC grew its position in shares of NIKE by 120.7% during the fourth quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock valued at $28,000 after purchasing an additional 140 shares in the last quarter. Annapolis Financial Services LLC grew its position in NIKE by 440.0% in the first quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock worth $25,000 after acquiring an additional 220 shares in the last quarter. Planned Solutions Inc. purchased a new position in shares of NIKE in the 4th quarter worth approximately $29,000. True Wealth Design LLC raised its holdings in NIKE by 106.4% during the 4th quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock valued at $32,000 after buying an additional 150 shares during the period. Finally, Core Wealth Advisors Inc. boosted its stake in shares of NIKE by 408.5% during the 4th quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock worth $33,000 after purchasing an additional 241 shares during the period. 64.25% of the stock is currently owned by institutional investors.

NIKE Stock Performance

NIKE stock traded down $0.79 during mid-day trading on Tuesday, hitting $76.04. The company had a trading volume of 24,961,781 shares, compared to its average volume of 10,689,501. The company has a market capitalization of $114.77 billion, a price-to-earnings ratio of 20.38, a P/E/G ratio of 1.43 and a beta of 1.01. The company has a current ratio of 2.40, a quick ratio of 1.69 and a debt-to-equity ratio of 0.55. The company’s fifty day moving average is $92.94 and its 200-day moving average is $98.54. NIKE, Inc. has a 12-month low of $74.29 and a 12-month high of $123.39.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.16. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The business had revenue of $12.60 billion for the quarter, compared to the consensus estimate of $12.86 billion. During the same period last year, the firm posted $0.66 earnings per share. The company’s revenue was down 1.6% compared to the same quarter last year. Equities research analysts predict that NIKE, Inc. will post 3.9 EPS for the current year.

NIKE Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Monday, June 3rd were given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 1.95%. The ex-dividend date of this dividend was Monday, June 3rd. NIKE’s payout ratio is 39.68%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Truist Financial dropped their target price on NIKE from $99.00 to $81.00 and set a “hold” rating for the company in a research report on Friday. Piper Sandler decreased their price objective on NIKE from $107.00 to $98.00 and set a “neutral” rating for the company in a report on Friday, March 22nd. Citigroup cut their price target on NIKE from $115.00 to $102.00 and set a “buy” rating on the stock in a report on Friday. StockNews.com downgraded shares of NIKE from a “buy” rating to a “hold” rating in a report on Friday, June 21st. Finally, Oppenheimer restated an “outperform” rating and issued a $120.00 price target on shares of NIKE in a report on Friday. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $98.04.

Insider Activity at NIKE

In other NIKE news, VP Johanna Nielsen sold 282 shares of the stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $93.64, for a total value of $26,406.48. Following the completion of the sale, the vice president now owns 730 shares in the company, valued at approximately $68,357.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, VP Johanna Nielsen sold 282 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $93.64, for a total transaction of $26,406.48. Following the completion of the sale, the vice president now owns 730 shares in the company, valued at approximately $68,357.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert Holmes Swan acquired 2,941 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The stock was acquired at an average price of $77.02 per share, for a total transaction of $226,515.82. Following the completion of the acquisition, the director now directly owns 20,946 shares of the company’s stock, valued at approximately $1,613,260.92. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 213,660 shares of company stock valued at $19,946,333. 0.50% of the stock is owned by insiders.

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.