NIKE, Inc. $NKE Shares Sold by Raiffeisen Bank International AG

Raiffeisen Bank International AG cut its position in NIKE, Inc. (NYSE:NKE) by 25.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 360,033 shares of the footwear maker’s stock after selling 121,198 shares during the period. Raiffeisen Bank International AG’s holdings in NIKE were worth $25,040,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Main Street Financial Solutions LLC lifted its holdings in shares of NIKE by 4.2% during the second quarter. Main Street Financial Solutions LLC now owns 3,441 shares of the footwear maker’s stock worth $244,000 after purchasing an additional 139 shares during the period. St. Clair Advisors LLC increased its holdings in NIKE by 0.9% in the 3rd quarter. St. Clair Advisors LLC now owns 15,217 shares of the footwear maker’s stock worth $1,061,000 after buying an additional 140 shares during the period. Spirepoint Private Client LLC raised its position in NIKE by 0.4% during the 3rd quarter. Spirepoint Private Client LLC now owns 36,140 shares of the footwear maker’s stock worth $2,520,000 after buying an additional 153 shares during the last quarter. Evelyn Partners Investment Management Europe Ltd boosted its holdings in shares of NIKE by 18.5% in the 2nd quarter. Evelyn Partners Investment Management Europe Ltd now owns 997 shares of the footwear maker’s stock valued at $71,000 after acquiring an additional 156 shares during the last quarter. Finally, CVA Family Office LLC lifted its holdings in NIKE by 8.0% in the third quarter. CVA Family Office LLC now owns 2,113 shares of the footwear maker’s stock valued at $147,000 after acquiring an additional 156 shares during the period. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

NIKE Stock Performance

NYSE NKE opened at $65.47 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.06 and a quick ratio of 1.40. The company has a market cap of $96.92 billion, a P/E ratio of 38.51, a P/E/G ratio of 3.36 and a beta of 1.27. The stock has a 50-day moving average of $63.47 and a two-hundred day moving average of $67.47. NIKE, Inc. has a 1-year low of $52.28 and a 1-year high of $82.44.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, December 18th. The footwear maker reported $0.53 EPS for the quarter, beating the consensus estimate of $0.37 by $0.16. NIKE had a net margin of 5.43% and a return on equity of 18.43%. The business had revenue of $12.43 billion during the quarter, compared to analyst estimates of $12.19 billion. During the same quarter last year, the firm posted $0.78 earnings per share. The business’s revenue for the quarter was up .6% compared to the same quarter last year. As a group, analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Monday, March 2nd will be paid a $0.41 dividend. The ex-dividend date is Monday, March 2nd. This represents a $1.64 dividend on an annualized basis and a yield of 2.5%. NIKE’s payout ratio is currently 96.47%.

Insiders Place Their Bets

In other news, CEO Elliott Hill acquired 16,388 shares of the company’s stock in a transaction on Monday, December 29th. The shares were bought at an average cost of $61.10 per share, with a total value of $1,001,306.80. Following the transaction, the chief executive officer owned 241,587 shares in the company, valued at approximately $14,760,965.70. This trade represents a 7.28% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Timothy D. Cook acquired 50,000 shares of the firm’s stock in a transaction dated Monday, December 22nd. The shares were purchased at an average cost of $58.97 per share, with a total value of $2,948,500.00. Following the completion of the transaction, the director owned 105,480 shares in the company, valued at approximately $6,220,155.60. The trade was a 90.12% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders bought 75,079 shares of company stock worth $4,449,887 in the last 90 days. Corporate insiders own 0.80% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on NKE. Needham & Company LLC cut NIKE from a “buy” rating to a “hold” rating in a report on Thursday, January 8th. Piper Sandler set a $75.00 price objective on NIKE and gave the company an “overweight” rating in a report on Friday, December 19th. Daiwa Securities Group lowered their price objective on NIKE from $75.00 to $61.00 in a research report on Tuesday, December 23rd. BTIG Research restated a “buy” rating and issued a $100.00 target price on shares of NIKE in a research report on Tuesday, January 27th. Finally, Deutsche Bank Aktiengesellschaft set a $67.00 price target on NIKE in a report on Thursday, January 8th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $74.61.

About NIKE

Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).