OVERSEA CHINESE BANKING Corp Ltd Sells 76,210 Shares of NIKE, Inc. (NYSE:NKE)

OVERSEA CHINESE BANKING Corp Ltd reduced its holdings in NIKE, Inc. (NYSE:NKE) by 70.4% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 32,092 shares of the footwear maker’s stock after selling 76,210 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in NIKE were worth $2,452,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Generali Asset Management SPA SGR bought a new position in NIKE in the 4th quarter worth about $5,860,000. Horizon Investments LLC increased its stake in NIKE by 2.1% in the 4th quarter. Horizon Investments LLC now owns 23,953 shares of the footwear maker’s stock worth $1,813,000 after acquiring an additional 503 shares during the last quarter. Advisors Asset Management Inc. increased its stake in NIKE by 9.2% in the 4th quarter. Advisors Asset Management Inc. now owns 52,703 shares of the footwear maker’s stock worth $3,988,000 after acquiring an additional 4,421 shares during the last quarter. Thrivent Financial for Lutherans increased its stake in NIKE by 1,977.7% in the 4th quarter. Thrivent Financial for Lutherans now owns 1,379,919 shares of the footwear maker’s stock worth $104,430,000 after acquiring an additional 1,313,502 shares during the last quarter. Finally, PDS Planning Inc increased its stake in NIKE by 11.5% in the 4th quarter. PDS Planning Inc now owns 3,794 shares of the footwear maker’s stock worth $287,000 after acquiring an additional 390 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors.

Insider Transactions at NIKE

In related news, Director John W. Rogers, Jr. acquired 2,500 shares of NIKE stock in a transaction that occurred on Friday, December 27th. The stock was bought at an average price of $76.65 per share, with a total value of $191,625.00. Following the transaction, the director now directly owns 34,403 shares in the company, valued at approximately $2,636,989.95. This represents a 7.84 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman Mark G. Parker sold 169,732 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $72.83, for a total value of $12,361,581.56. Following the transaction, the chairman now directly owns 896,632 shares of the company’s stock, valued at approximately $65,301,708.56. This trade represents a 15.92 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.

NIKE Stock Down 0.5 %

Shares of NYSE:NKE opened at $72.92 on Thursday. NIKE, Inc. has a 52-week low of $68.62 and a 52-week high of $101.92. The firm has a market capitalization of $107.86 billion, a P/E ratio of 22.51, a P/E/G ratio of 2.52 and a beta of 1.02. The stock has a 50 day moving average price of $74.76 and a 200-day moving average price of $77.60. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22.

NIKE (NYSE:NKE) last announced its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.15. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The firm had revenue of $12.35 billion during the quarter, compared to analyst estimates of $12.11 billion. During the same quarter in the prior year, the company earned $1.03 EPS. The business’s revenue was down 7.7% compared to the same quarter last year. As a group, equities research analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.19%. The ex-dividend date is Monday, March 3rd. NIKE’s dividend payout ratio is currently 49.38%.

Analyst Upgrades and Downgrades

NKE has been the topic of a number of research analyst reports. UBS Group restated a “neutral” rating and issued a $73.00 target price on shares of NIKE in a research note on Thursday, December 26th. Truist Financial reduced their price objective on NIKE from $97.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Barclays reduced their price objective on NIKE from $79.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Friday, December 20th. Evercore ISI reduced their price objective on NIKE from $105.00 to $97.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. Finally, Citigroup lowered NIKE from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $102.00 to $72.00 in a research report on Friday, February 7th. Fifteen investment 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.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $89.54.

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.