Simmons Bank Sells 3,044 Shares of NIKE, Inc. (NYSE:NKE)

Simmons Bank lowered its stake in shares of NIKE, Inc. (NYSE:NKE) by 6.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 46,370 shares of the footwear maker’s stock after selling 3,044 shares during the period. Simmons Bank’s holdings in NIKE were worth $5,034,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Newport Trust Company LLC bought a new stake in shares of NIKE during the 3rd quarter worth $679,775,000. Flossbach Von Storch AG grew its position in NIKE by 433.5% in the 3rd quarter. Flossbach Von Storch AG now owns 4,128,587 shares of the footwear maker’s stock valued at $394,775,000 after purchasing an additional 3,354,677 shares during the period. Van ECK Associates Corp increased its position in shares of NIKE by 117.0% during the third quarter. Van ECK Associates Corp now owns 2,986,441 shares of the footwear maker’s stock worth $285,564,000 after acquiring an additional 1,610,273 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in NIKE by 37.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 5,791,531 shares of the footwear maker’s stock worth $553,786,000 after purchasing an additional 1,583,541 shares during the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC bought a new stake in shares of NIKE during the 3rd quarter worth $97,724,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Stock Performance

Shares of NIKE stock traded down $0.57 during trading hours on Wednesday, reaching $93.21. 2,567,401 shares of the stock traded hands, compared to its average volume of 9,150,249. The company has a 50 day moving average price of $95.28 and a 200 day moving average price of $102.91. The firm has a market capitalization of $140.69 billion, a price-to-earnings ratio of 27.48, a P/E/G ratio of 1.78 and a beta of 1.07. The company has a quick ratio of 1.89, a current ratio of 2.74 and a debt-to-equity ratio of 0.63. NIKE, Inc. has a one year low of $88.66 and a one year high of $126.46.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Thursday, March 21st. The footwear maker reported $0.98 EPS for the quarter, beating the consensus estimate of $0.69 by $0.29. NIKE had a net margin of 10.14% and a return on equity of 39.41%. The company had revenue of $12.43 billion for the quarter, compared to the consensus estimate of $12.28 billion. On average, equities research analysts expect that NIKE, Inc. will post 3.73 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be paid a dividend of $0.37 per share. The ex-dividend date is Monday, June 3rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.59%. NIKE’s payout ratio is currently 43.53%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on NKE shares. Robert W. Baird decreased their target price on shares of NIKE from $140.00 to $125.00 and set an “outperform” rating on the stock in a report on Friday, March 22nd. 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. Evercore ISI reduced their price objective on NIKE from $127.00 to $117.00 and set an “outperform” rating for the company in a research note on Friday, March 22nd. Citigroup cut their price objective on shares of NIKE from $135.00 to $125.00 and set a “buy” rating for the company in a report on Thursday, March 14th. Finally, Piper Sandler dropped their price target on NIKE from $107.00 to $98.00 and set a “neutral” rating for the company in a research report on Friday, March 22nd. Two analysts have rated the stock with a sell rating, ten have given a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat.com, NIKE has a consensus rating of “Moderate Buy” and a consensus price target of $116.26.

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.