Neuberger Berman Group LLC Decreases Stake in NIKE, Inc. (NYSE:NKE)

Neuberger Berman Group LLC lessened its position in shares of NIKE, Inc. (NYSE:NKE) by 8.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,259,830 shares of the footwear maker’s stock after selling 202,746 shares during the quarter. Neuberger Berman Group LLC owned approximately 0.15% of NIKE worth $171,000,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. JNBA Financial Advisors increased its position in shares of NIKE by 1.3% during the fourth quarter. JNBA Financial Advisors now owns 10,045 shares of the footwear maker’s stock valued at $760,000 after acquiring an additional 131 shares during the last quarter. Nations Financial Group Inc. IA ADV raised its position in NIKE by 0.7% in the 4th quarter. Nations Financial Group Inc. IA ADV now owns 20,446 shares of the footwear maker’s stock valued at $1,547,000 after purchasing an additional 136 shares during the last quarter. Elgethun Capital Management increased its stake in NIKE by 13.7% in the 4th quarter. Elgethun Capital Management now owns 1,236 shares of the footwear maker’s stock valued at $94,000 after buying an additional 149 shares during the period. GAMMA Investing LLC grew its stake in shares of NIKE by 1.0% during the 4th quarter. GAMMA Investing LLC now owns 15,014 shares of the footwear maker’s stock worth $1,136,000 after purchasing an additional 150 shares during the period. Finally, Game Plan Financial Advisors LLC grew its stake in NIKE by 11.1% in the 4th quarter. Game Plan Financial Advisors LLC now owns 1,500 shares of the footwear maker’s stock valued at $114,000 after acquiring an additional 150 shares during the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at NIKE

In other NIKE news, Director Robert Holmes Swan purchased 8,600 shares of the business’s stock in a transaction on Friday, April 4th. The stock was acquired at an average price of $58.46 per share, for a total transaction of $502,756.00. Following the purchase, the director now owns 31,983 shares of the company’s stock, valued at approximately $1,869,726.18. This represents a 36.78 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Mark G. Parker sold 169,732 shares of NIKE stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the sale, the chairman now directly owns 896,632 shares of the company’s stock, valued at $65,301,708.56. This represents a 15.92 % decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by company insiders.

NIKE Price Performance

Shares of NKE opened at $59.40 on Thursday. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a 1 year low of $52.37 and a 1 year high of $98.04. The stock’s 50-day moving average price is $70.93 and its two-hundred day moving average price is $75.39. The stock has a market cap of $87.86 billion, a P/E ratio of 18.33, a price-to-earnings-growth ratio of 2.52 and a beta of 1.15.

NIKE (NYSE:NKE) last released its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.26. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The business had revenue of $11.27 billion during the quarter, compared to the consensus estimate of $11.02 billion. During the same period in the previous year, the company posted $0.98 EPS. The firm’s quarterly revenue was down 9.1% on a year-over-year basis. On average, equities analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd were issued a $0.40 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.60 annualized dividend and a yield of 2.69%. NIKE’s payout ratio is currently 53.16%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on NKE. China Renaissance assumed coverage on shares of NIKE in a report on Wednesday, March 19th. They set a “hold” rating on the stock. Citigroup lowered shares of NIKE from a “buy” rating to a “neutral” rating and lowered their target price for the company from $102.00 to $72.00 in a research note on Friday, February 7th. Piper Sandler raised shares of NIKE from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $72.00 to $90.00 in a report on Friday, January 10th. Needham & Company LLC dropped their target price on NIKE from $84.00 to $80.00 and set a “buy” rating on the stock in a report on Monday, March 17th. Finally, Dbs Bank raised NIKE from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. Fifteen equities research analysts have rated the stock with a hold rating, sixteen 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 a consensus target price of $87.38.

About NIKE

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.