Commerzbank Aktiengesellschaft FI Sells 19,756 Shares of NIKE, Inc. $NKE

Commerzbank Aktiengesellschaft FI trimmed its position in NIKE, Inc. (NYSE:NKE) by 13.6% during the 1st quarter, Holdings Channel.com reports. The firm owned 125,354 shares of the footwear maker’s stock after selling 19,756 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in NIKE were worth $6,621,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Westerkirk Capital Inc. increased its stake in NIKE by 52.4% in the 4th quarter. Westerkirk Capital Inc. now owns 131,220 shares of the footwear maker’s stock worth $8,360,000 after buying an additional 45,100 shares in the last quarter. OMERS ADMINISTRATION Corp lifted its position in shares of NIKE by 77.9% in the fourth quarter. OMERS ADMINISTRATION Corp now owns 2,526,179 shares of the footwear maker’s stock valued at $160,943,000 after acquiring an additional 1,106,499 shares in the last quarter. PFA Pension Forsikringsaktieselskab purchased a new position in shares of NIKE in the fourth quarter valued at about $43,188,000. Nicholas Company Inc. boosted its stake in shares of NIKE by 33.3% in the fourth quarter. Nicholas Company Inc. now owns 123,652 shares of the footwear maker’s stock worth $7,878,000 after acquiring an additional 30,890 shares during the period. Finally, Stoneridge Investment Partners LLC boosted its stake in shares of NIKE by 1,253.6% in the fourth quarter. Stoneridge Investment Partners LLC now owns 78,846 shares of the footwear maker’s stock worth $5,023,000 after acquiring an additional 73,021 shares during the period. Institutional investors own 64.25% of the company’s stock.

Insider Activity at NIKE

In related news, EVP Philip Mccartney sold 17,398 shares of the stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $46.18, for a total value of $803,439.64. Following the completion of the transaction, the executive vice president owned 53,133 shares of the company’s stock, valued at approximately $2,453,681.94. This trade represents a 24.67% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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. Insiders own 1.10% of the company’s stock.

NIKE Trading Down 0.8%

Shares of NKE opened at $43.43 on Tuesday. The stock has a market capitalization of $64.31 billion, a PE ratio of 20.78, a P/E/G ratio of 2.53 and a beta of 1.12. The company’s fifty day moving average is $43.69 and its 200 day moving average is $51.66. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.36 and a current ratio of 1.96. NIKE, Inc. has a fifty-two week low of $40.00 and a fifty-two week high of $80.17.

NIKE (NYSE:NKE) last released its quarterly earnings data on Tuesday, June 30th. The footwear maker reported $0.20 EPS for the quarter, beating the consensus estimate of $0.11 by $0.09. NIKE had a net margin of 6.70% and a return on equity of 16.54%. The business had revenue of $10.97 billion during the quarter, compared to analyst estimates of $10.85 billion. During the same quarter last year, the business earned $0.14 earnings per share. NIKE’s quarterly revenue was down 1.1% compared to the same quarter last year. Sell-side analysts expect that NIKE, Inc. will post 1.75 earnings per share for the current fiscal year.

NIKE Announces Dividend

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

Analysts Set New Price Targets

NKE has been the topic of several recent analyst reports. Barclays decreased their target price on NIKE from $67.00 to $52.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 1st. Deutsche Bank Aktiengesellschaft cut their price objective on shares of NIKE from $51.00 to $43.00 and set a “hold” rating for the company in a report on Friday, June 26th. China Renaissance reduced their price objective on shares of NIKE from $74.60 to $50.30 and set a “hold” rating on the stock in a research report on Thursday, April 2nd. Piper Sandler lowered their target price on shares of NIKE from $50.00 to $45.00 and set a “neutral” rating on the stock in a report on Wednesday, July 1st. Finally, Zacks Research lowered shares of NIKE from a “hold” rating to a “strong sell” rating in a research report on Monday, June 1st. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nineteen have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $54.80.

NIKE Company 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).