Commerzbank Aktiengesellschaft FI lessened its stake in shares of NIKE, Inc. (NYSE:NKE – Free Report) by 88.7% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 60,915 shares of the footwear maker’s stock after selling 477,629 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in NIKE were worth $5,385,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Annapolis Financial Services LLC grew its stake in NIKE by 440.0% during the first quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock valued at $25,000 after acquiring an additional 220 shares in the last quarter. Transcendent Capital Group LLC grew its position in shares of NIKE by 97.6% during the 1st quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker’s stock valued at $38,000 after purchasing an additional 200 shares in the last quarter. VitalStone Financial LLC increased its holdings in shares of NIKE by 52.6% in the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock worth $38,000 after purchasing an additional 150 shares during the period. Bruce G. Allen Investments LLC raised its position in shares of NIKE by 272.5% in the second quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock worth $39,000 after buying an additional 376 shares in the last quarter. Finally, Triad Wealth Partners LLC bought a new stake in NIKE during the second quarter valued at $44,000. 64.25% of the stock is currently owned by institutional investors.
NIKE Trading Down 1.4 %
NYSE NKE opened at $80.30 on Wednesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36. The stock has a market cap of $121.20 billion, a P/E ratio of 21.83, a price-to-earnings-growth ratio of 1.96 and a beta of 1.02. The stock has a 50 day simple moving average of $82.83 and a two-hundred day simple moving average of $85.14. NIKE, Inc. has a fifty-two week low of $70.75 and a fifty-two week high of $123.39.
NIKE Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd were issued a $0.37 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $1.48 annualized dividend and a yield of 1.84%. NIKE’s dividend payout ratio (DPR) is presently 39.68%.
Wall Street Analyst Weigh In
NKE has been the topic of a number of research analyst reports. Truist Financial upgraded NIKE from a “hold” rating to a “buy” rating and upped their target price for the stock from $83.00 to $97.00 in a research note on Thursday, October 10th. JPMorgan Chase & Co. decreased their price target on shares of NIKE from $80.00 to $77.00 and set a “neutral” rating on the stock in a report on Wednesday, October 2nd. Guggenheim dropped their price objective on shares of NIKE from $115.00 to $110.00 and set a “buy” rating for the company in a report on Wednesday, October 2nd. Oppenheimer reissued an “outperform” rating and issued a $120.00 target price on shares of NIKE in a research note on Friday, June 28th. Finally, Raymond James restated a “market perform” rating on shares of NIKE in a research report on Friday, June 28th. Fourteen research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, NIKE currently has an average rating of “Moderate Buy” and an average target price of $96.56.
View Our Latest Report on NIKE
Insider Buying and Selling at NIKE
In other news, Chairman Mark G. Parker sold 52,487 shares of the stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total value of $4,093,986.00. Following the completion of the transaction, the chairman now owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.50% of the company’s stock.
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.
Further Reading
- Five stocks we like better than NIKE
- What is a Death Cross in Stocks?
- Chinese Stocks Cool Off: Time to Buy the Dip in These 2 Stocks?
- What Investors Need to Know to Beat the Market
- Goldman Sachs Highlights 3 Top Short Squeeze Stocks to Watch
- What is a support level?
- Walmart is Up 56% YTD, Is it Still a Top Consumer Staples Stock?
Want to see what other hedge funds are holding NKE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NIKE, Inc. (NYSE:NKE – Free Report).
Receive News & Ratings for NIKE Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NIKE and related companies with MarketBeat.com's FREE daily email newsletter.