TCW Group Inc. Sells 99,742 Shares of NIKE, Inc. (NYSE:NKE)

TCW Group Inc. reduced its position in shares of NIKE, Inc. (NYSE:NKE) by 11.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 787,257 shares of the footwear maker’s stock after selling 99,742 shares during the period. NIKE accounts for approximately 1.0% of TCW Group Inc.’s portfolio, making the stock its 28th largest position. TCW Group Inc.’s holdings in NIKE were worth $85,477,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. WealthPlan Investment Management LLC raised its stake in NIKE by 4,687.4% in the third quarter. WealthPlan Investment Management LLC now owns 55,294 shares of the footwear maker’s stock worth $5,287,000 after buying an additional 54,139 shares in the last quarter. Main Street Financial Solutions LLC lifted its stake in shares of NIKE by 8.9% in the 3rd quarter. Main Street Financial Solutions LLC now owns 6,914 shares of the footwear maker’s stock valued at $661,000 after purchasing an additional 564 shares during the period. MGO One Seven LLC boosted its position in shares of NIKE by 2.0% during the third quarter. MGO One Seven LLC now owns 17,780 shares of the footwear maker’s stock valued at $1,700,000 after purchasing an additional 349 shares in the last quarter. Corient Private Wealth LLC grew its stake in NIKE by 1.1% in the third quarter. Corient Private Wealth LLC now owns 1,124,907 shares of the footwear maker’s stock worth $107,543,000 after purchasing an additional 12,690 shares during the period. Finally, EverSource Wealth Advisors LLC grew its stake in NIKE by 5.5% in the third quarter. EverSource Wealth Advisors LLC now owns 10,830 shares of the footwear maker’s stock worth $1,036,000 after purchasing an additional 563 shares during the period. 64.25% of the stock is currently owned by institutional investors.

Insider Activity at NIKE

In other NIKE news, VP Johanna Nielsen sold 282 shares of the company’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $93.64, for a total transaction of $26,406.48. Following the completion of the sale, the vice president now owns 730 shares in the company, valued at $68,357.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other NIKE news, VP Johanna Nielsen sold 282 shares of the stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $93.64, for a total transaction of $26,406.48. Following the sale, the vice president now directly owns 730 shares of the company’s stock, valued at approximately $68,357.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Monique S. Matheson sold 45,000 shares of NIKE stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $94.16, for a total value of $4,237,200.00. Following the transaction, the executive vice president now owns 44,997 shares of the company’s stock, valued at approximately $4,236,917.52. The disclosure for this sale can be found here. Over the last quarter, insiders sold 213,660 shares of company stock worth $19,946,333. Company insiders own 0.50% of the company’s stock.

NIKE Trading Down 1.2 %

Shares of NYSE:NKE traded down $1.10 during trading hours on Thursday, hitting $91.40. 7,622,974 shares of the company’s stock traded hands, compared to its average volume of 9,240,034. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.74 and a quick ratio of 1.89. The business has a fifty day moving average price of $93.49 and a 200-day moving average price of $102.11. NIKE, Inc. has a 1 year low of $88.66 and a 1 year high of $123.39. The firm has a market capitalization of $137.96 billion, a P/E ratio of 27.08, a price-to-earnings-growth ratio of 1.79 and a beta of 1.07.

NIKE (NYSE:NKE) last released its earnings results on Thursday, March 21st. The footwear maker reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.29. The business had revenue of $12.43 billion for the quarter, compared to analyst estimates of $12.28 billion. NIKE had a return on equity of 39.41% and a net margin of 10.14%. Equities analysts expect that NIKE, Inc. will post 3.73 earnings per share for the current year.

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date of this dividend is Monday, June 3rd. NIKE’s dividend payout ratio (DPR) is presently 43.53%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Wells Fargo & Company lowered their price objective on NIKE from $125.00 to $120.00 and set an “overweight” rating for the company in a research note on Friday, March 22nd. Telsey Advisory Group lowered their price target on NIKE from $140.00 to $120.00 and set an “outperform” rating for the company in a research report on Monday, March 18th. Williams Trading reissued a “sell” rating and set a $85.00 price objective (down from $92.00) on shares of NIKE in a research report on Monday, March 18th. Bank of America raised shares of NIKE from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $110.00 to $113.00 in a report on Thursday, April 11th. Finally, Truist Financial reiterated a “hold” rating and set a $111.00 price target on shares of NIKE in a report on Tuesday, March 19th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-one have given a buy rating to the company. According to data from MarketBeat, NIKE currently has a consensus rating of “Moderate Buy” and a consensus target price of $116.26.

NIKE Company 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.