American International Group Inc. Has $34.44 Million Stake in NIKE, Inc. (NYSE:NKE)

American International Group Inc. lifted its stake in shares of NIKE, Inc. (NYSE:NKE) by 1.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 317,196 shares of the footwear maker’s stock after purchasing an additional 3,368 shares during the period. American International Group Inc.’s holdings in NIKE were worth $34,438,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of NKE. Iron Horse Wealth Management LLC lifted its position in shares of NIKE by 120.7% during the fourth quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock worth $28,000 after purchasing an additional 140 shares in the last quarter. Planned Solutions Inc. bought a new stake in shares of NIKE during the fourth quarter worth approximately $29,000. True Wealth Design LLC raised its stake in shares of NIKE by 106.4% during the fourth quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock worth $32,000 after buying an additional 150 shares during the last quarter. Frank Rimerman Advisors LLC bought a new stake in shares of NIKE during the fourth quarter worth approximately $33,000. Finally, Core Wealth Advisors Inc. raised its stake in shares of NIKE by 408.5% during the fourth quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock worth $33,000 after buying an additional 241 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Stock Performance

Shares of NKE traded down $0.79 during trading hours on Friday, hitting $93.39. The company had a trading volume of 7,426,757 shares, compared to its average volume of 8,421,531. The firm has a market cap of $140.96 billion, a price-to-earnings ratio of 27.47, a PEG ratio of 1.70 and a beta of 1.05. The business has a fifty day moving average of $93.14 and a 200-day moving average of $100.52. NIKE, Inc. has a 12 month low of $88.66 and a 12 month high of $123.39. 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 (NYSE:NKE) last issued its quarterly earnings data on Thursday, March 21st. The footwear maker reported $0.98 earnings per share 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 analyst estimates of $12.28 billion. Equities analysts anticipate that NIKE, Inc. will post 3.76 EPS for the current fiscal year.

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date of this dividend is Monday, June 3rd. NIKE’s dividend payout ratio is 43.53%.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on NKE shares. The Goldman Sachs Group dropped their price target on shares of NIKE from $135.00 to $120.00 and set a “buy” rating for the company in a research note on Friday, March 22nd. UBS Group dropped their price target on shares of NIKE from $138.00 to $125.00 and set a “buy” rating for the company in a research note on Friday, March 22nd. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $115.00 target price on shares of NIKE in a research note on Thursday. Stifel Nicolaus lowered their target price on shares of NIKE from $129.00 to $117.00 and set a “buy” rating for the company in a research note on Friday, March 22nd. Finally, Piper Sandler lowered their target price on shares of NIKE from $107.00 to $98.00 and set a “neutral” rating for the company in a research note on Friday, March 22nd. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-one have issued a buy rating to the stock. According to MarketBeat, NIKE currently has an average rating of “Moderate Buy” and a consensus target price of $115.59.

NIKE Company 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.