Northern Trust Corp Has $920.41 Million Stake in NIKE, Inc. $NKE

Northern Trust Corp reduced its stake in shares of NIKE, Inc. (NYSE:NKE) by 1.3% in the 1st quarter, HoldingsChannel.com reports. The fund owned 14,499,282 shares of the footwear maker’s stock after selling 191,153 shares during the quarter. Northern Trust Corp’s holdings in NIKE were worth $920,414,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Brighton Jones LLC lifted its holdings in NIKE by 388.5% during the 4th quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker’s stock valued at $15,316,000 after purchasing an additional 160,980 shares during the last quarter. Bank Pictet & Cie Europe AG increased its holdings in shares of NIKE by 10.3% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 190,915 shares of the footwear maker’s stock worth $14,447,000 after buying an additional 17,888 shares in the last quarter. Forum Financial Management LP raised its stake in shares of NIKE by 14.1% in the fourth quarter. Forum Financial Management LP now owns 6,431 shares of the footwear maker’s stock valued at $487,000 after acquiring an additional 795 shares during the last quarter. Capital Research Global Investors boosted its holdings in shares of NIKE by 269.6% in the 4th quarter. Capital Research Global Investors now owns 2,429,708 shares of the footwear maker’s stock worth $183,854,000 after acquiring an additional 1,772,342 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S boosted its holdings in shares of NIKE by 59.7% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 44,387 shares of the footwear maker’s stock worth $3,359,000 after acquiring an additional 16,598 shares in the last quarter. 64.25% of the stock is owned by institutional investors.

NIKE Trading Up 0.6%

NKE opened at $77.43 on Tuesday. The firm’s fifty day moving average is $71.36 and its two-hundred day moving average is $67.56. The firm has a market cap of $114.36 billion, a PE ratio of 35.85, a price-to-earnings-growth ratio of 2.80 and a beta of 1.27. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $90.62. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.50 and a current ratio of 2.21.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, June 26th. The footwear maker reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.02. The business had revenue of $11.10 billion during the quarter, compared to analysts’ expectations of $10.69 billion. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The firm’s quarterly revenue was down 11.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.99 EPS. Equities research analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.1%. NIKE’s dividend payout ratio (DPR) is currently 74.07%.

Insider Activity at NIKE

In other news, Chairman Mark G. Parker sold 86,078 shares of NIKE stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $75.93, for a total transaction of $6,535,902.54. Following the transaction, the chairman owned 744,988 shares in the company, valued at $56,566,938.84. The trade was a 10.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.80% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on NKE. Hsbc Global Res upgraded NIKE from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 27th. Bank of America lifted their price target on NIKE from $80.00 to $84.00 and gave the company a “buy” rating in a report on Friday, June 27th. Truist Financial lowered their price objective on shares of NIKE from $82.00 to $73.00 and set a “buy” rating for the company in a research report on Tuesday, June 24th. Jefferies Financial Group reaffirmed a “buy” rating on shares of NIKE in a research note on Friday, May 23rd. Finally, Evercore ISI decreased their price target on shares of NIKE from $97.00 to $75.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 24th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have given a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $78.22.

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.