NIKE, Inc. (NYSE:NKE) Shares Sold by MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH cut its holdings in NIKE, Inc. (NYSE:NKE) by 3.8% in the 1st quarter, HoldingsChannel reports. The fund owned 137,339 shares of the footwear maker’s stock after selling 5,430 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in NIKE were worth $12,907,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Piscataqua Savings Bank increased its stake in NIKE by 2.1% in the fourth quarter. Piscataqua Savings Bank now owns 4,861 shares of the footwear maker’s stock valued at $528,000 after purchasing an additional 100 shares during the last quarter. Physicians Financial Services Inc. increased its stake in shares of NIKE by 0.6% during the 4th quarter. Physicians Financial Services Inc. now owns 16,077 shares of the footwear maker’s stock valued at $1,745,000 after acquiring an additional 100 shares during the last quarter. ZWJ Investment Counsel Inc. lifted its holdings in shares of NIKE by 4.0% during the 4th quarter. ZWJ Investment Counsel Inc. now owns 2,599 shares of the footwear maker’s stock worth $282,000 after acquiring an additional 100 shares during the period. Kornitzer Capital Management Inc. KS boosted its position in shares of NIKE by 0.4% in the fourth quarter. Kornitzer Capital Management Inc. KS now owns 25,568 shares of the footwear maker’s stock worth $2,776,000 after acquiring an additional 100 shares during the last quarter. Finally, Claro Advisors LLC grew its holdings in NIKE by 0.8% in the fourth quarter. Claro Advisors LLC now owns 12,227 shares of the footwear maker’s stock valued at $1,327,000 after purchasing an additional 101 shares during the period. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on NKE shares. Royal Bank of Canada cut their price target on shares of NIKE from $100.00 to $75.00 and set a “sector perform” rating on the stock in a research note on Tuesday. Williams Trading reaffirmed a “sell” rating and issued a $85.00 target price (down from $92.00) on shares of NIKE in a research report on Monday, March 18th. Piper Sandler lowered their price target on NIKE from $107.00 to $98.00 and set a “neutral” rating for the company in a research report on Friday, March 22nd. JPMorgan Chase & Co. restated a “neutral” rating and issued a $83.00 price objective (down from $116.00) on shares of NIKE in a report on Friday. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $88.00 target price (down previously from $117.00) on shares of NIKE in a report on Friday. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $98.04.

Insider Activity at NIKE

In other news, Director Robert Holmes Swan bought 2,941 shares of the company’s stock in a transaction dated Friday, June 28th. The shares were acquired at an average cost of $77.02 per share, with a total value of $226,515.82. Following the completion of the transaction, the director now directly owns 20,946 shares in the company, valued at approximately $1,613,260.92. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Robert Holmes Swan acquired 2,941 shares of the company’s stock in a transaction on Friday, June 28th. The shares were purchased at an average price of $77.02 per share, for a total transaction of $226,515.82. Following the purchase, the director now owns 20,946 shares in the company, valued at $1,613,260.92. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Mark G. Parker sold 168,378 shares of the business’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $93.14, for a total transaction of $15,682,726.92. Following the transaction, the chairman now owns 1,102,090 shares in the company, valued at $102,648,662.60. The disclosure for this sale can be found here. Insiders sold a total of 213,660 shares of company stock valued at $19,946,333 over the last ninety days. Insiders own 0.50% of the company’s stock.

NIKE Stock Performance

NKE stock traded down $0.79 during trading on Tuesday, reaching $76.04. 24,961,781 shares of the company’s stock were exchanged, compared to its average volume of 10,689,501. The firm has a market cap of $114.77 billion, a PE ratio of 20.38, a P/E/G ratio of 1.43 and a beta of 1.01. The company’s fifty day moving average price is $92.94 and its 200-day moving average price is $98.54. NIKE, Inc. has a 1-year low of $74.29 and a 1-year high of $123.39. The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.55.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.16. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The company had revenue of $12.60 billion during the quarter, compared to analyst estimates of $12.86 billion. During the same period in the prior year, the business posted $0.66 EPS. The business’s revenue for the quarter was down 1.6% compared to the same quarter last year. On average, research analysts expect that NIKE, Inc. will post 3.9 EPS for the current fiscal year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Monday, June 3rd were given a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.95%. The ex-dividend date was Monday, June 3rd. NIKE’s dividend payout ratio (DPR) is presently 39.68%.

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.