OMERS ADMINISTRATION Corp Sells 2,469,669 Shares of NIKE, Inc. $NKE

OMERS ADMINISTRATION Corp reduced its holdings in NIKE, Inc. (NYSE:NKE) by 97.8% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 56,510 shares of the footwear maker’s stock after selling 2,469,669 shares during the period. OMERS ADMINISTRATION Corp’s holdings in NIKE were worth $2,985,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. Main Street Financial Solutions LLC increased its position in shares of NIKE by 4.2% during the 2nd quarter. Main Street Financial Solutions LLC now owns 3,441 shares of the footwear maker’s stock valued at $244,000 after purchasing an additional 139 shares during the last quarter. Diligent Investors LLC boosted its stake in shares of NIKE by 4.3% during the 4th quarter. Diligent Investors LLC now owns 3,719 shares of the footwear maker’s stock worth $237,000 after purchasing an additional 153 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in NIKE by 4.3% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,978 shares of the footwear maker’s stock valued at $253,000 after purchasing an additional 163 shares during the last quarter. Lakeshore Capital Group Inc. grew its holdings in NIKE by 2.9% during the 4th quarter. Lakeshore Capital Group Inc. now owns 5,868 shares of the footwear maker’s stock valued at $374,000 after purchasing an additional 165 shares during the last quarter. Finally, ANB Bank raised its position in NIKE by 0.7% in the 4th quarter. ANB Bank now owns 25,451 shares of the footwear maker’s stock worth $1,621,000 after purchasing an additional 165 shares during the period. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at NIKE

In other news, EVP Philip Mccartney sold 17,398 shares of the stock in a transaction on Friday, June 12th. The stock was sold at an average price of $46.18, for a total transaction of $803,439.64. Following the completion of the sale, the executive vice president owned 53,133 shares in the company, valued at approximately $2,453,681.94. This represents a 24.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. JPMorgan Chase & Co. decreased their price objective on shares of NIKE from $52.00 to $47.00 and set a “neutral” rating for the company in a research note on Monday, June 29th. Royal Bank Of Canada reissued a “neutral” rating on shares of NIKE in a research note on Wednesday, July 1st. Piper Sandler dropped their price objective on NIKE from $50.00 to $45.00 and set a “neutral” rating for the company in a report on Wednesday, July 1st. Rothschild & Co Redburn cut their price objective on NIKE from $45.00 to $37.00 and set a “sell” rating on the stock in a research report on Friday, July 17th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of NIKE in a research note on Thursday, June 4th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nineteen have issued a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, NIKE currently has a consensus rating of “Hold” and a consensus price target of $53.86.

NIKE Stock Performance

NKE stock opened at $43.01 on Wednesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.96 and a quick ratio of 1.36. The business has a 50-day moving average price of $43.68 and a 200 day moving average price of $50.75. The company has a market capitalization of $63.81 billion, a P/E ratio of 20.58, a PEG ratio of 1.87 and a beta of 1.12. NIKE, Inc. has a 1-year low of $40.00 and a 1-year high of $80.17.

NIKE (NYSE:NKE) last announced its earnings results on Tuesday, June 30th. The footwear maker reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.09. The business had revenue of $10.97 billion for the quarter, compared to analysts’ expectations of $10.85 billion. NIKE had a return on equity of 16.54% and a net margin of 6.70%.The business’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.14 EPS. As a group, equities research analysts forecast that NIKE, Inc. will post 1.74 EPS for the current fiscal year.

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st were issued a $0.41 dividend. The ex-dividend date was Monday, June 1st. This represents a $1.64 dividend on an annualized basis and a yield of 3.8%. NIKE’s payout ratio is currently 78.47%.

NIKE Profile

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).