IFM Investors Pty Ltd Has $21.35 Million Position in NIKE, Inc. (NYSE:NKE)

IFM Investors Pty Ltd lowered its stake in NIKE, Inc. (NYSE:NKE) by 0.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 241,537 shares of the footwear maker’s stock after selling 211 shares during the quarter. IFM Investors Pty Ltd’s holdings in NIKE were worth $21,352,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in NKE. Vanguard Group Inc. lifted its position in NIKE by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 110,044,821 shares of the footwear maker’s stock worth $10,342,012,000 after buying an additional 501,792 shares in the last quarter. Legal & General Group Plc grew its stake in NIKE by 5.5% in the second quarter. Legal & General Group Plc now owns 11,049,294 shares of the footwear maker’s stock valued at $832,785,000 after purchasing an additional 571,544 shares in the last quarter. Jennison Associates LLC increased 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 worth $832,623,000 after purchasing an additional 2,775,510 shares during the last quarter. Massachusetts Financial Services Co. MA increased 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 worth $454,151,000 after purchasing an additional 52,500 shares during the last quarter. Finally, Longview Partners Guernsey LTD bought a new stake in shares of NIKE during the 1st quarter worth approximately $533,533,000. Institutional investors own 64.25% of the company’s stock.

Wall Street Analysts Forecast Growth

NKE has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of NIKE from $95.00 to $92.00 and set a “buy” rating for the company in a research report on Wednesday, October 2nd. BMO Capital Markets dropped their price objective on NIKE from $118.00 to $100.00 and set an “outperform” rating on the stock in a research note on Friday, June 28th. Piper Sandler reissued a “neutral” rating and set a $80.00 target price on shares of NIKE in a report on Friday, September 20th. JPMorgan Chase & Co. cut their price target on NIKE from $80.00 to $77.00 and set a “neutral” rating for the company in a report on Wednesday, October 2nd. Finally, Telsey Advisory Group reduced their target price on shares of NIKE from $100.00 to $96.00 and set an “outperform” rating for the company in a report on Wednesday, October 2nd. Fourteen equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $96.56.

Insider Activity

In related news, Chairman Mark G. Parker sold 52,487 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total value of $4,093,986.00. Following the transaction, the chairman now owns 1,031,226 shares in the company, valued at $80,435,628. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.50% of the company’s stock.

NIKE Trading Down 1.0 %

Shares of NIKE stock traded down $0.79 during trading on Thursday, hitting $79.26. The company’s stock had a trading volume of 3,082,124 shares, compared to its average volume of 11,597,019. The stock has a market cap of $119.63 billion, a price-to-earnings ratio of 21.46, a price-to-earnings-growth ratio of 1.96 and a beta of 1.02. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58. NIKE, Inc. has a 52 week low of $70.75 and a 52 week high of $123.39. The stock has a 50-day moving average price of $82.86 and a two-hundred day moving average price of $85.10.

NIKE (NYSE:NKE) last released its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.18. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The firm had revenue of $11.59 billion for the quarter, compared to analyst estimates of $11.64 billion. During the same quarter in the previous year, the company posted $0.94 EPS. The business’s revenue was down 10.4% on a year-over-year basis. Equities research analysts anticipate that NIKE, Inc. will post 2.8 EPS for the current fiscal year.

NIKE Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd were given a $0.37 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.87%. NIKE’s dividend payout ratio (DPR) is currently 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.