Dana Investment Advisors Inc. Sells 4,582 Shares of NIKE, Inc. (NYSE:NKE)

Dana Investment Advisors Inc. decreased its holdings in shares of NIKE, Inc. (NYSE:NKE) by 35.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,459 shares of the footwear maker’s stock after selling 4,582 shares during the quarter. Dana Investment Advisors Inc.’s holdings in NIKE were worth $1,307,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in NKE. Parnassus Investments CA bought a new stake in NIKE during the 2nd quarter valued at approximately $553,035,000. Alliancebernstein L.P. boosted its stake in NIKE by 15.2% during the 2nd quarter. Alliancebernstein L.P. now owns 23,084,530 shares of the footwear maker’s stock valued at $3,566,329,000 after purchasing an additional 3,045,282 shares during the period. D1 Capital Partners L.P. bought a new stake in NIKE during the 1st quarter valued at approximately $223,388,000. BlackRock Inc. boosted its stake in NIKE by 1.6% during the 1st quarter. BlackRock Inc. now owns 94,636,902 shares of the footwear maker’s stock valued at $12,576,298,000 after purchasing an additional 1,528,211 shares during the period. Finally, Standard Life Aberdeen plc raised its holdings in NIKE by 93.3% in the 1st quarter. Standard Life Aberdeen plc now owns 2,073,036 shares of the footwear maker’s stock valued at $275,765,000 after acquiring an additional 1,000,473 shares in the last quarter. Hedge funds and other institutional investors own 64.45% of the company’s stock.

In other NIKE news, CAO Hilary K. Krane sold 21,500 shares of NIKE stock in a transaction dated Friday, June 25th. The stock was sold at an average price of $153.16, for a total value of $3,292,940.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Andrew Campion sold 7,125 shares of NIKE stock in a transaction dated Thursday, August 5th. The shares were sold at an average price of $171.50, for a total value of $1,221,937.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 379,671 shares of company stock worth $60,634,427. Corporate insiders own 3.70% of the company’s stock.

NKE has been the subject of several recent research reports. Guggenheim upped their price target on NIKE from $165.00 to $170.00 and gave the company a “buy” rating in a report on Friday, June 25th. Robert W. Baird upped their price target on NIKE from $150.00 to $192.00 and gave the company an “outperform” rating in a report on Friday, June 25th. BMO Capital Markets upped their price target on NIKE from $160.00 to $174.00 and gave the company an “outperform” rating in a report on Friday, June 25th. UBS Group set a $185.00 target price on NIKE in a report on Thursday, September 9th. Finally, Piper Sandler increased their target price on NIKE from $170.00 to $174.00 and gave the stock an “overweight” rating in a report on Friday, June 25th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-nine have assigned a buy rating to the company. According to data from MarketBeat.com, NIKE currently has an average rating of “Buy” and a consensus price target of $173.26.

NYSE:NKE opened at $158.76 on Wednesday. The stock’s fifty day simple moving average is $165.76 and its 200-day simple moving average is $146.63. The company has a quick ratio of 2.01, a current ratio of 2.72 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $251.13 billion, a P/E ratio of 44.60, a P/E/G ratio of 2.49 and a beta of 0.87. NIKE, Inc. has a 12-month low of $111.74 and a 12-month high of $174.38.

NIKE (NYSE:NKE) last posted its earnings results on Wednesday, June 23rd. The footwear maker reported $0.93 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.42. The firm had revenue of $12.30 billion for the quarter, compared to analyst estimates of $11.02 billion. NIKE had a return on equity of 51.41% and a net margin of 12.86%. The company’s revenue for the quarter was up 94.8% on a year-over-year basis. During the same period in the previous year, the company posted ($0.51) earnings per share. As a group, equities research analysts expect that NIKE, Inc. will post 4.3 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 1st. Shareholders of record on Monday, August 30th will be issued a dividend of $0.275 per share. The ex-dividend date is Friday, August 27th. This represents a $1.10 annualized dividend and a yield of 0.69%. NIKE’s dividend payout ratio is presently 30.90%.

About NIKE

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.

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Institutional Ownership by Quarter for NIKE (NYSE:NKE)

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