Nemes Rush Group LLC Has $37,000 Holdings in NIKE, Inc. (NYSE:NKE)

Nemes Rush Group LLC trimmed its stake in NIKE, Inc. (NYSE:NKE) by 96.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 484 shares of the footwear maker’s stock after selling 14,001 shares during the period. Nemes Rush Group LLC’s holdings in NIKE were worth $37,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Norges Bank acquired a new position in shares of NIKE in the fourth quarter worth approximately $1,126,288,000. Wellington Management Group LLP lifted its position in shares of NIKE by 32.4% in 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 purchasing an additional 8,898,591 shares during the period. Pacer Advisors Inc. boosted its stake in shares of NIKE by 6,029.6% in the 4th quarter. Pacer Advisors Inc. now owns 6,821,270 shares of the footwear maker’s stock valued at $516,166,000 after purchasing an additional 6,709,985 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of 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 buying an additional 3,121,929 shares during the period. Finally, Assenagon Asset Management S.A. raised its stake in NIKE by 358.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 3,015,267 shares of the footwear maker’s stock worth $228,165,000 after buying an additional 2,357,745 shares during the last quarter. 64.25% of the stock is owned by institutional investors.

Insider Buying and Selling

In other NIKE news, Chairman Mark G. Parker sold 169,732 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $72.83, for a total value of $12,361,581.56. Following the completion of the sale, the chairman now directly owns 896,632 shares of the company’s stock, valued at $65,301,708.56. This trade represents a 15.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts have weighed in on NKE shares. Truist Financial decreased their price target on NIKE from $90.00 to $82.00 and set a “buy” rating for the company in a report on Friday, March 21st. China Renaissance started coverage on NIKE in a report on Wednesday, March 19th. They issued a “hold” rating for the company. Piper Sandler upgraded NIKE from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $72.00 to $90.00 in a report on Friday, January 10th. BMO Capital Markets dropped their target price on shares of NIKE from $95.00 to $92.00 and set an “outperform” rating on the stock in a research report on Friday, March 21st. Finally, Needham & Company LLC reduced their price target on shares of NIKE from $84.00 to $80.00 and set a “buy” rating for the company in a report on Monday, March 17th. Fifteen research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $87.38.

NIKE Stock Performance

Shares of NIKE stock opened at $65.04 on Thursday. The firm has a market capitalization of $96.20 billion, a P/E ratio of 20.07, a price-to-earnings-growth ratio of 2.52 and a beta of 1.02. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. The business’s fifty day simple moving average is $73.66 and its 200 day simple moving average is $76.64. NIKE, Inc. has a 12 month low of $59.28 and a 12 month high of $98.04.

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

NIKE Announces Dividend

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

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.