NIKE, Inc. (NYSE:NKE) Shares Sold by Atlantic Union Bankshares Corp

Atlantic Union Bankshares Corp cut its holdings in shares of NIKE, Inc. (NYSE:NKE) by 4.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 34,968 shares of the footwear maker’s stock after selling 1,695 shares during the period. Atlantic Union Bankshares Corp’s holdings in NIKE were worth $3,286,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of NKE. Norges Bank acquired a new stake in shares of NIKE during the fourth quarter valued at about $1,315,097,000. Price T Rowe Associates Inc. MD grew its stake in shares of NIKE by 87.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 17,135,431 shares of the footwear maker’s stock valued at $1,860,395,000 after acquiring an additional 7,996,434 shares in the last quarter. Capital International Investors grew its stake in NIKE by 34.9% in the fourth quarter. Capital International Investors now owns 27,609,613 shares of the footwear maker’s stock worth $2,997,628,000 after purchasing an additional 7,143,775 shares in the last quarter. Public Employees Retirement Association of Colorado grew its stake in NIKE by 13,094.2% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 1,563,253 shares of the footwear maker’s stock worth $169,722,000 after purchasing an additional 1,551,405 shares in the last quarter. Finally, GUARDCAP ASSET MANAGEMENT Ltd grew its stake in NIKE by 25.5% in the fourth quarter. GUARDCAP ASSET MANAGEMENT Ltd now owns 4,714,494 shares of the footwear maker’s stock worth $511,853,000 after purchasing an additional 957,612 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other NIKE news, Chairman Mark G. Parker sold 168,378 shares of NIKE stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $93.14, for a total value of $15,682,726.92. Following the transaction, the chairman now owns 1,102,090 shares in the company, valued at $102,648,662.60. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other NIKE news, EVP Monique S. Matheson sold 45,000 shares of NIKE stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $94.16, for a total value of $4,237,200.00. Following the transaction, the executive vice president now owns 44,997 shares in the company, valued at $4,236,917.52. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman Mark G. Parker sold 168,378 shares of NIKE stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $93.14, for a total transaction of $15,682,726.92. Following the completion of the transaction, the chairman now owns 1,102,090 shares in the company, valued at approximately $102,648,662.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 213,660 shares of company stock worth $19,946,333. 0.50% of the stock is owned by insiders.

NIKE Price Performance

NYSE:NKE traded down $18.83 during midday trading on Friday, hitting $75.36. 129,696,053 shares of the stock were exchanged, compared to its average volume of 10,299,254. NIKE, Inc. has a one year low of $74.55 and a one year high of $123.39. The company has a market capitalization of $113.75 billion, a price-to-earnings ratio of 22.16, a P/E/G ratio of 1.79 and a beta of 1.05. The business has a 50-day moving average price of $93.28 and a two-hundred day moving average price of $99.15. The company has a current ratio of 2.74, a quick ratio of 1.89 and a debt-to-equity ratio of 0.63.

NIKE (NYSE:NKE) last announced its earnings results on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, topping the consensus estimate of $0.85 by $0.16. NIKE had a return on equity of 39.41% and a net margin of 10.14%. The firm had revenue of $12.60 billion for the quarter, compared to analysts’ expectations of $12.86 billion. During the same quarter in the previous year, the company earned $0.66 earnings per share. The firm’s quarterly revenue was down 1.6% compared to the same quarter last year. Sell-side analysts predict that NIKE, Inc. will post 3.81 EPS for the current year.

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be issued a dividend of $0.37 per share. The ex-dividend date is Monday, June 3rd. This represents a $1.48 annualized dividend and a yield of 1.96%. NIKE’s payout ratio is 43.53%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on NKE shares. Wells Fargo & Company decreased their price target on NIKE from $115.00 to $92.00 and set an “overweight” rating for the company in a research note on Friday. Evercore ISI decreased their price target on NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a research note on Friday. Telsey Advisory Group decreased their price target on NIKE from $115.00 to $100.00 and set an “outperform” rating for the company in a research note on Friday. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $83.00 price target (down from $116.00) on shares of NIKE in a research note on Friday. Finally, Williams Trading reiterated a “sell” rating and issued a $85.00 price target (down from $92.00) on shares of NIKE in a research note on Monday, March 18th. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $98.96.

NIKE Profile

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.