Motley Fool Asset Management LLC Has $4.70 Million Position in NIKE, Inc. (NYSE:NKE)

Motley Fool Asset Management LLC trimmed its position in NIKE, Inc. (NYSE:NKE) by 8.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 62,087 shares of the footwear maker’s stock after selling 5,718 shares during the period. Motley Fool Asset Management LLC’s holdings in NIKE were worth $4,698,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank acquired a new stake in NIKE in the fourth quarter worth $1,126,288,000. Wellington Management Group LLP raised its stake in NIKE by 32.4% during the 4th quarter. Wellington Management Group LLP now owns 36,340,736 shares of the footwear maker’s stock worth $2,749,903,000 after buying an additional 8,898,591 shares during the period. Pacer Advisors Inc. lifted its holdings in NIKE by 6,029.6% during the fourth quarter. Pacer Advisors Inc. now owns 6,821,270 shares of the footwear maker’s stock worth $516,166,000 after acquiring an additional 6,709,985 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in NIKE by 18.1% during the fourth quarter. Bank of New York Mellon Corp now owns 20,367,993 shares of the footwear maker’s stock worth $1,541,246,000 after acquiring an additional 3,121,929 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in NIKE by 358.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 3,015,267 shares of the footwear maker’s stock valued at $228,165,000 after acquiring an additional 2,357,745 shares during the period. Institutional investors own 64.25% of the company’s stock.

Insider Transactions at NIKE

In related news, Chairman Mark G. Parker sold 169,732 shares of the company’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $72.83, for a total value of $12,361,581.56. Following the transaction, the chairman now owns 896,632 shares in the company, valued at approximately $65,301,708.56. This represents a 15.92 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Stifel Nicolaus cut their price objective on NIKE from $79.00 to $75.00 and set a “hold” rating on the stock in a report on Friday, December 20th. JPMorgan Chase & Co. cut their price target on shares of NIKE from $73.00 to $64.00 and set a “neutral” rating on the stock in a research note on Friday, March 21st. Deutsche Bank Aktiengesellschaft reduced their price target on shares of NIKE from $92.00 to $82.00 and set a “buy” rating for the company in a report on Monday, December 16th. Piper Sandler upgraded shares of NIKE from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $72.00 to $90.00 in a report on Friday, January 10th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and issued a $80.00 target price on shares of NIKE in a research note on Monday, March 17th. Fifteen research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, NIKE currently has a consensus rating of “Moderate Buy” and an average target price of $87.38.

NIKE Trading Up 0.4 %

NIKE stock opened at $65.04 on Thursday. The stock has a 50-day simple moving average of $73.66 and a 200 day simple moving average of $76.64. The stock has a market capitalization of $96.20 billion, a P/E ratio of 20.07, a PEG ratio of 2.52 and a beta of 1.02. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. NIKE, Inc. has a 52 week low of $58.81 and a 52 week high of $98.04.

NIKE (NYSE:NKE) last issued its earnings results on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, topping the consensus estimate of $0.28 by $0.26. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The company had revenue of $11.27 billion during the quarter, compared to the consensus estimate of $11.02 billion. During the same period in the previous year, the company posted $0.98 EPS. The firm’s revenue for the quarter was down 9.1% compared to the same quarter last year. Analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.46%. The ex-dividend date of this dividend was Monday, March 3rd. NIKE’s payout ratio is presently 53.16%.

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.