NIKE, Inc. $NKE Shares Sold by Mmbg Investment Advisors CO.

Mmbg Investment Advisors CO. reduced its holdings in NIKE, Inc. (NYSE:NKE) by 37.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,017 shares of the footwear maker’s stock after selling 13,143 shares during the quarter. Mmbg Investment Advisors CO.’s holdings in NIKE were worth $1,415,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in NIKE by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 116,993,541 shares of the footwear maker’s stock valued at $7,453,658,000 after acquiring an additional 1,702,342 shares during the period. Capital World Investors increased its position in NIKE by 0.7% in the 3rd quarter. Capital World Investors now owns 42,239,013 shares of the footwear maker’s stock valued at $2,945,326,000 after acquiring an additional 286,615 shares during the period. Flossbach Von Storch SE increased its position in NIKE by 29.3% in the 4th quarter. Flossbach Von Storch SE now owns 12,753,317 shares of the footwear maker’s stock valued at $812,514,000 after acquiring an additional 2,886,856 shares during the period. Invesco Ltd. increased its position in NIKE by 3.3% in the 3rd quarter. Invesco Ltd. now owns 12,561,334 shares of the footwear maker’s stock valued at $875,902,000 after acquiring an additional 404,136 shares during the period. Finally, Viking Global Investors LP increased its position in NIKE by 29.1% in the 3rd quarter. Viking Global Investors LP now owns 8,996,579 shares of the footwear maker’s stock valued at $627,331,000 after acquiring an additional 2,029,381 shares during the period. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Jefferies Financial Group lowered their target price on NIKE from $110.00 to $90.00 and set a “buy” rating on the stock in a research report on Wednesday, April 1st. Piper Sandler restated a “neutral” rating and issued a $50.00 target price (down from $60.00) on shares of NIKE in a research report on Friday, April 10th. Berenberg Bank reiterated a “neutral” rating on shares of NIKE in a research report on Wednesday, May 6th. Wall Street Zen upgraded NIKE from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Finally, CICC Research cut NIKE from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $69.00 to $58.00 in a research report on Monday, April 6th. Sixteen equities research analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $62.04.

NIKE Stock Up 0.1%

Shares of NKE stock opened at $44.70 on Tuesday. NIKE, Inc. has a 1 year low of $41.35 and a 1 year high of $80.17. The stock has a market cap of $66.20 billion, a PE ratio of 29.60, a price-to-earnings-growth ratio of 2.37 and a beta of 1.12. The business’s fifty day moving average is $46.41 and its 200-day moving average is $57.17. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.45 and a current ratio of 2.14.

NIKE (NYSE:NKE) last released its quarterly earnings data on Tuesday, March 31st. The footwear maker reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.06. The business had revenue of $11.28 billion during the quarter, compared to analyst estimates of $11.23 billion. NIKE had a return on equity of 16.41% and a net margin of 4.84%.The company’s revenue was up .1% compared to the same quarter last year. During the same period last year, the company posted $0.54 EPS. Equities analysts expect that NIKE, Inc. will post 1.51 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be paid a dividend of $0.41 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $1.64 annualized dividend and a dividend yield of 3.7%. NIKE’s dividend payout ratio (DPR) is currently 108.61%.

Insider Buying and Selling

In related news, Director Timothy D. Cook acquired 25,000 shares of NIKE stock in a transaction dated Friday, April 10th. The stock was acquired at an average cost of $42.43 per share, with a total value of $1,060,750.00. Following the purchase, the director directly owned 130,480 shares in the company, valued at $5,536,266.40. The trade was a 23.70% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John W. Rogers, Jr. acquired 4,000 shares of NIKE stock in a transaction dated Thursday, April 9th. The shares were bought at an average cost of $43.34 per share, with a total value of $173,360.00. Following the completion of the purchase, the director owned 41,022 shares in the company, valued at approximately $1,777,893.48. This represents a 10.80% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders acquired 64,441 shares of company stock valued at $2,734,204. 0.80% of the stock is owned by insiders.

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).