Chicago Capital LLC Reduces Holdings in NIKE, Inc. (NYSE:NKE)

Chicago Capital LLC lessened its position in shares of NIKE, Inc. (NYSE:NKE) by 38.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,869 shares of the footwear maker’s stock after selling 4,824 shares during the period. Chicago Capital LLC’s holdings in NIKE were worth $696,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of NIKE by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 110,044,821 shares of the footwear maker’s stock valued at $10,342,012,000 after buying an additional 501,792 shares during the last quarter. Legal & General Group Plc lifted its position in shares of NIKE by 5.5% during the 2nd quarter. Legal & General Group Plc now owns 11,049,294 shares of the footwear maker’s stock valued at $832,785,000 after buying an additional 571,544 shares during the last quarter. Jennison Associates LLC lifted its position in shares of NIKE by 45.6% during the 1st quarter. Jennison Associates LLC now owns 8,859,580 shares of the footwear maker’s stock valued at $832,623,000 after buying an additional 2,775,510 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of NIKE by 0.9% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 6,025,616 shares of the footwear maker’s stock valued at $454,151,000 after buying an additional 52,500 shares during the last quarter. Finally, Longview Partners Guernsey LTD purchased a new stake in NIKE during the 1st quarter worth about $533,533,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Insider Buying and Selling

In related news, Chairman Mark G. Parker sold 52,487 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the transaction, the chairman now directly owns 1,031,226 shares in the company, valued at $80,435,628. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.50% of the stock is owned by corporate insiders.

NIKE Price Performance

Shares of NIKE stock opened at $82.92 on Monday. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $125.16 billion, a PE ratio of 22.23, a price-to-earnings-growth ratio of 1.96 and a beta of 1.02. The business’s 50-day moving average price is $82.64 and its 200-day moving average price is $85.24. NIKE, Inc. has a 12 month low of $70.75 and a 12 month high of $123.39.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.18. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The business had revenue of $11.59 billion for the quarter, compared to analyst estimates of $11.64 billion. During the same period last year, the company earned $0.94 EPS. NIKE’s revenue for the quarter was down 10.4% compared to the same quarter last year. Sell-side analysts forecast that NIKE, Inc. will post 2.8 EPS for the current fiscal year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.48 annualized dividend and a yield of 1.78%. NIKE’s payout ratio is 39.68%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on NKE. KeyCorp reissued a “sector weight” rating on shares of NIKE in a report on Friday, June 28th. Daiwa America cut NIKE from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Barclays dropped their price objective on NIKE from $84.00 to $81.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 2nd. Wells Fargo & Company increased their price objective on NIKE from $86.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. Finally, Truist Financial raised NIKE from a “hold” rating to a “buy” rating and increased their price objective for the stock from $83.00 to $97.00 in a report on Thursday, October 10th. Fourteen investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $96.56.

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.