ORG Partners LLC Reduces Stock Position in NIKE, Inc. (NYSE:NKE)

ORG Partners LLC trimmed its position in NIKE, Inc. (NYSE:NKE) by 10.7% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 3,232 shares of the footwear maker’s stock after selling 387 shares during the quarter. ORG Partners LLC’s holdings in NIKE were worth $205,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Wellington Management Group LLP lifted its holdings in shares of NIKE by 32.4% in 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 buying an additional 8,898,591 shares during the period. Geode Capital Management LLC lifted its holdings in shares of NIKE by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 25,376,558 shares of the footwear maker’s stock worth $1,915,110,000 after buying an additional 347,178 shares during the period. Capital World Investors lifted its holdings in shares of 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 buying an additional 2,288,627 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of 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 buying an additional 3,121,929 shares during the period. Finally, Norges Bank purchased a new stake in shares of NIKE in the 4th quarter worth $1,126,288,000. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other NIKE news, Director Robert Holmes Swan purchased 8,600 shares of NIKE stock in a transaction on Friday, April 4th. The stock was bought at an average cost of $58.46 per share, with a total value of $502,756.00. Following the transaction, the director now owns 31,983 shares of the company’s stock, valued at $1,869,726.18. This represents a 36.78% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.10% of the stock is currently owned by insiders.

NIKE Trading Up 0.4%

Shares of NYSE:NKE opened at $59.78 on Friday. The business’s 50-day moving average is $59.78 and its 200 day moving average is $68.02. NIKE, Inc. has a 1 year low of $52.28 and a 1 year high of $98.04. The firm has a market capitalization of $88.41 billion, a P/E ratio of 19.86, a P/E/G ratio of 2.11 and a beta of 1.21. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.19 and a quick ratio of 1.52.

NIKE (NYSE:NKE) last released its earnings results on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.26. The firm had revenue of $11.27 billion during the quarter, compared to the consensus estimate of $11.02 billion. NIKE had a return on equity of 32.18% and a net margin of 9.43%. The company’s revenue was down 9.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.98 earnings per share. On average, research analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date is Monday, June 2nd. NIKE’s dividend payout ratio is presently 53.16%.

Analysts Set New Price Targets

NKE has been the subject of several research reports. Truist Financial lowered their target price on NIKE from $90.00 to $82.00 and set a “buy” rating for the company in a report on Friday, March 21st. Dbs Bank raised NIKE from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. Barclays reduced their price target on NIKE from $60.00 to $53.00 and set an “equal weight” rating for the company in a research report on Wednesday. Cfra Research raised NIKE to a “moderate buy” rating in a research report on Friday, March 21st. Finally, China Renaissance started coverage on NIKE in a research report on Wednesday, March 19th. They issued a “hold” rating for the company. Sixteen analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $78.74.

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.