NIKE, Inc. (NYSE:NKE) Shares Sold by Naples Global Advisors LLC

Posted by Defense World Staff on Mar 30th, 2023

Naples Global Advisors LLC reduced its position in NIKE, Inc. (NYSE:NKE – Get Rating) by 4.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,541 shares of the footwear maker’s stock after selling 200 shares during the quarter. Naples Global Advisors LLC’s holdings in NIKE were worth $531,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of NKE. Two Sigma Investments LP lifted its holdings in shares of NIKE by 487.6% during the third quarter. Two Sigma Investments LP now owns 2,151,470 shares of the footwear maker’s stock worth $178,830,000 after purchasing an additional 1,785,322 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of NIKE by 81.5% during the third quarter. Renaissance Technologies LLC now owns 3,781,000 shares of the footwear maker’s stock worth $314,277,000 after purchasing an additional 1,698,312 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its holdings in shares of NIKE by 187.1% during the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 2,345,116 shares of the footwear maker’s stock worth $194,926,000 after purchasing an additional 1,528,375 shares during the period. Coho Partners Ltd. acquired a new stake in shares of NIKE during the third quarter worth $118,416,000. Finally, Lazard Asset Management LLC lifted its holdings in shares of NIKE by 221.5% during the first quarter. Lazard Asset Management LLC now owns 2,046,445 shares of the footwear maker’s stock worth $275,368,000 after purchasing an additional 1,409,913 shares during the period. 63.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently commented on NKE. Guggenheim boosted their price objective on shares of NIKE from $135.00 to $145.00 and gave the stock a “buy” rating in a report on Wednesday, March 22nd. StockNews.com began coverage on shares of NIKE in a research report on Thursday, March 16th. They set a “hold” rating for the company. Raymond James lifted their target price on shares of NIKE from $130.00 to $135.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 22nd. Wedbush cut their target price on shares of NIKE from $145.00 to $139.00 and set an “outperform” rating for the company in a research report on Wednesday, March 22nd. Finally, Oppenheimer boosted their price objective on shares of NIKE from $135.00 to $150.00 and gave the company an “outperform” rating in a research report on Tuesday, February 21st. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and twenty-two have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $134.33.

NIKE Stock Performance

NIKE stock opened at $120.49 on Thursday. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.73 and a quick ratio of 1.79. The company has a market cap of $186.83 billion, a P/E ratio of 34.72, a price-to-earnings-growth ratio of 3.46 and a beta of 1.10. The firm’s 50 day simple moving average is $122.58 and its 200-day simple moving average is $110.67. NIKE, Inc. has a fifty-two week low of $82.22 and a fifty-two week high of $139.86.

NIKE (NYSE:NKE – Get Rating) last posted its earnings results on Tuesday, March 21st. The footwear maker reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.24. The firm had revenue of $12.40 billion during the quarter, compared to analysts’ expectations of $11.48 billion. NIKE had a net margin of 10.82% and a return on equity of 35.98%. The company’s revenue was up 13.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.87 earnings per share. As a group, equities research analysts predict that NIKE, Inc. will post 3.22 EPS for the current year.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 3rd. Shareholders of record on Monday, March 6th will be paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date of this dividend is Friday, March 3rd. NIKE’s dividend payout ratio (DPR) is presently 39.19%.

Insider Activity

In other news, Director Peter B. Henry purchased 557 shares of the company’s stock in a transaction dated Tuesday, February 7th. The shares were bought at an average price of $125.45 per share, with a total value of $69,875.65. Following the completion of the transaction, the director now directly owns 4,062 shares in the company, valued at approximately $509,577.90. The purchase was disclosed in a filing with the SEC, which is available through this link. In related news, Director Peter B. Henry bought 557 shares of the company’s stock in a transaction that occurred on Tuesday, February 7th. The shares were acquired at an average price of $125.45 per share, with a total value of $69,875.65. Following the completion of the transaction, the director now owns 4,062 shares of the company’s stock, valued at approximately $509,577.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Monique S. Matheson sold 5,000 shares of the business’s stock in a transaction on Friday, January 6th. The stock was sold at an average price of $124.00, for a total transaction of $620,000.00. Following the transaction, the executive vice president now directly owns 60,213 shares in the company, valued at approximately $7,466,412. The disclosure for this sale can be found here. Insiders own 0.40% of the company’s stock.

About NIKE

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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.