NIKE, Inc. (NYSE:NKE) Shares Sold by Clark Capital Management Group Inc.

Clark Capital Management Group Inc. cut its holdings in NIKE, Inc. (NYSE:NKE) by 3.9% during the 4th quarter, Holdings Channel reports. The firm owned 6,451 shares of the footwear maker’s stock after selling 261 shares during the period. Clark Capital Management Group Inc.’s holdings in NIKE were worth $488,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Wellington Management Group LLP boosted its stake in shares of 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 purchasing an additional 8,898,591 shares during the last quarter. Geode Capital Management LLC boosted its position in NIKE by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 25,376,558 shares of the footwear maker’s stock worth $1,915,110,000 after acquiring an additional 347,178 shares during the last quarter. Capital World Investors grew its stake in NIKE by 10.3% in the 4th quarter. Capital World Investors now owns 24,545,937 shares of the footwear maker’s stock worth $1,857,389,000 after acquiring an additional 2,288,627 shares during the period. Bank of New York Mellon Corp grew its stake in NIKE by 18.1% in the 4th 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 during the period. Finally, Norges Bank acquired a new position in NIKE in the 4th quarter valued at $1,126,288,000. 64.25% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NKE has been the topic of several analyst reports. Morgan Stanley decreased their price objective on NIKE from $72.00 to $70.00 and set an “equal weight” rating on the stock in a report on Friday, March 21st. Royal Bank of Canada decreased their price target on NIKE from $67.00 to $66.00 and set a “sector perform” rating on the stock in a research note on Friday, March 21st. JPMorgan Chase & Co. dropped their price objective on shares of NIKE from $64.00 to $56.00 and set a “neutral” rating for the company in a research note on Monday, May 5th. Truist Financial cut their price objective on shares of NIKE from $90.00 to $82.00 and set a “buy” rating on the stock in a report on Friday, March 21st. Finally, China Renaissance assumed coverage on shares of NIKE in a report on Wednesday, March 19th. They issued a “hold” rating for the company. Seventeen investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, NIKE has an average rating of “Moderate Buy” and a consensus target price of $80.48.

Insider Transactions at NIKE

In other NIKE news, Director Robert Holmes Swan acquired 8,600 shares of the firm’s stock in a transaction on Friday, April 4th. The stock was purchased at an average price of $58.46 per share, with a total value 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 trade represents a 36.78 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Chairman Mark G. Parker sold 169,732 shares of the business’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the sale, the chairman now owns 896,632 shares of the company’s stock, valued at approximately $65,301,708.56. The trade was a 15.92 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

NIKE Stock Down 1.0 %

Shares of NYSE:NKE opened at $58.35 on Friday. The firm has a market cap of $86.31 billion, a PE ratio of 18.01, a price-to-earnings-growth ratio of 2.52 and a beta of 1.23. The company has a fifty day simple moving average of $62.52 and a 200 day simple moving average of $71.25. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $98.04.

NIKE (NYSE:NKE) last released its earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $11.02 billion. During the same quarter in the previous year, the firm earned $0.98 EPS. The company’s revenue was down 9.1% on a year-over-year basis. On average, equities research analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date of this dividend is Monday, June 2nd. NIKE’s dividend payout ratio is presently 53.16%.

NIKE 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.