Nan Shan Life Insurance Co. Ltd. Decreases Stake in NIKE, Inc. $NKE

Nan Shan Life Insurance Co. Ltd. lowered its stake in NIKE, Inc. (NYSE:NKE) by 5.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 696,987 shares of the footwear maker’s stock after selling 37,964 shares during the period. NIKE accounts for 1.0% of Nan Shan Life Insurance Co. Ltd.’s holdings, making the stock its 27th biggest position. Nan Shan Life Insurance Co. Ltd.’s holdings in NIKE were worth $44,245,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. AlTi Global Inc. raised its holdings in shares of NIKE by 0.4% in the fourth quarter. AlTi Global Inc. now owns 36,996 shares of the footwear maker’s stock worth $2,813,000 after buying an additional 150 shares during the last quarter. Peregrine Asset Advisers Inc. raised its holdings in shares of NIKE by 1.2% in the first quarter. Peregrine Asset Advisers Inc. now owns 15,119 shares of the footwear maker’s stock worth $934,000 after buying an additional 181 shares during the last quarter. Aaron Wealth Advisors LLC raised its holdings in shares of NIKE by 4.3% during the first quarter. Aaron Wealth Advisors LLC now owns 4,666 shares of the footwear maker’s stock worth $296,000 after purchasing an additional 192 shares during the last quarter. Crew Capital Management Ltd. raised its holdings in shares of NIKE by 1.4% during the first quarter. Crew Capital Management Ltd. now owns 13,752 shares of the footwear maker’s stock worth $873,000 after purchasing an additional 192 shares during the last quarter. Finally, Sculati Wealth Management LLC raised its holdings in shares of NIKE by 1.4% during the fourth quarter. Sculati Wealth Management LLC now owns 14,387 shares of the footwear maker’s stock worth $1,089,000 after purchasing an additional 195 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on NKE shares. Jefferies Financial Group reissued a “buy” rating on shares of NIKE in a report on Friday, May 23rd. Piper Sandler raised their target price on shares of NIKE from $70.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, June 27th. Morgan Stanley raised their target price on shares of NIKE from $61.00 to $64.00 and gave the stock an “equal weight” rating in a report on Friday, June 27th. Argus raised shares of NIKE to a “buy” rating in a report on Sunday, July 6th. Finally, Wall Street Zen cut shares of NIKE from a “hold” rating to a “sell” rating in a report on Friday, June 27th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, seventeen have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $78.22.

Insiders Place Their Bets

In related news, Chairman Mark G. Parker sold 110,000 shares of the business’s stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $72.29, for a total transaction of $7,951,900.00. Following the transaction, the chairman directly owned 842,361 shares in the company, valued at approximately $60,894,276.69. The trade was a 11.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.80% of the company’s stock.

NIKE Stock Up 0.6%

Shares of NYSE NKE opened at $77.43 on Tuesday. The company’s 50-day simple moving average is $71.36 and its 200-day simple moving average is $67.56. NIKE, Inc. has a 52-week low of $52.28 and a 52-week high of $90.62. The firm has a market cap of $114.36 billion, a price-to-earnings ratio of 35.85, a price-to-earnings-growth ratio of 2.80 and a beta of 1.27. The company has a quick ratio of 1.50, a current ratio of 2.21 and a debt-to-equity ratio of 0.60.

NIKE (NYSE:NKE) last announced its earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.02. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The business had revenue of $11.10 billion for the quarter, compared to analyst estimates of $10.69 billion. During the same quarter last year, the business earned $0.99 earnings per share. The company’s revenue for the quarter was down 11.9% compared to the same quarter last year. Equities analysts predict that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd will be given a dividend of $0.40 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.1%. NIKE’s payout ratio is presently 74.07%.

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.