Barings LLC Sells 803 Shares of NIKE, Inc. (NYSE:NKE)

Barings LLC cut its stake in NIKE, Inc. (NYSE:NKE) by 6.6% in the 2nd quarter, Holdings Channel.com reports. The firm owned 11,443 shares of the footwear maker’s stock after selling 803 shares during the quarter. Barings LLC’s holdings in NIKE were worth $1,768,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in NKE. FFT Wealth Management LLC purchased a new position in shares of NIKE in the second quarter valued at $26,000. Princeton Global Asset Management LLC grew its position in shares of NIKE by 39.8% in the second quarter. Princeton Global Asset Management LLC now owns 246 shares of the footwear maker’s stock valued at $38,000 after purchasing an additional 70 shares in the last quarter. Rockbridge Investment Management LCC grew its position in shares of NIKE by 43.9% in the second quarter. Rockbridge Investment Management LCC now owns 246 shares of the footwear maker’s stock valued at $38,000 after purchasing an additional 75 shares in the last quarter. Baldrige Asset Management LLC purchased a new position in shares of NIKE in the second quarter valued at $41,000. Finally, Pflug Koory LLC purchased a new position in NIKE during the second quarter worth about $51,000. Institutional investors own 64.45% of the company’s stock.

In other NIKE news, CAO Hilary K. Krane sold 21,500 shares of the business’s stock in a transaction dated Friday, June 25th. The stock was sold at an average price of $153.16, for a total value of $3,292,940.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Andrew Campion sold 7,125 shares of the business’s stock in a transaction dated Thursday, August 5th. The stock was sold at an average price of $171.50, for a total value of $1,221,937.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 379,671 shares of company stock worth $60,634,427. 3.70% of the stock is currently owned by company insiders.

Several equities analysts recently commented on the company. BTIG Research cut NIKE from a “buy” rating to a “neutral” rating in a research report on Monday, September 13th. Zacks Investment Research cut NIKE from a “buy” rating to a “hold” rating and set a $164.00 target price for the company. in a research report on Tuesday. Argus boosted their target price on NIKE from $174.00 to $182.00 and gave the stock a “buy” rating in a research report on Wednesday, July 14th. Piper Sandler boosted their target price on NIKE from $170.00 to $174.00 and gave the stock an “overweight” rating in a research report on Friday, June 25th. Finally, UBS Group set a $185.00 target price on NIKE in a research report on Thursday, September 9th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $173.56.

NKE stock opened at $157.44 on Thursday. The company has a market capitalization of $249.04 billion, a price-to-earnings ratio of 44.22, a price-to-earnings-growth ratio of 2.49 and a beta of 0.87. The company has a debt-to-equity ratio of 0.74, a quick ratio of 2.01 and a current ratio of 2.72. The business’s 50 day moving average price is $165.20 and its two-hundred day moving average price is $147.45. NIKE, Inc. has a fifty-two week low of $118.80 and a fifty-two week high of $174.38.

NIKE (NYSE:NKE) last announced its earnings results on Wednesday, June 23rd. The footwear maker reported $0.93 EPS for the quarter, beating the Zacks’ consensus estimate of $0.51 by $0.42. NIKE had a net margin of 12.86% and a return on equity of 51.41%. The firm had revenue of $12.30 billion for the quarter, compared to analysts’ expectations of $11.02 billion. During the same quarter in the previous year, the business posted ($0.51) EPS. The company’s quarterly revenue was up 94.8% on a year-over-year basis. Sell-side analysts forecast that NIKE, Inc. will post 4.3 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, October 1st. Investors of record on Monday, August 30th will be paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date is Friday, August 27th. NIKE’s payout ratio is 30.90%.

NIKE Company Profile

NIKE, Inc engages in the design, development, marketing, and sale of athletic footwear, apparel, accessories, equipment, and services. It operates through the following segments: North America; Europe, Middle East & Africa; Greater China; Asia Pacific & Latin America; Global Brand Divisions; Converse; and Corporate.

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Institutional Ownership by Quarter for NIKE (NYSE:NKE)

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