Canada Pension Plan Investment Board Has $49.29 Million Position in NIKE, Inc. (NYSE:NKE)

Canada Pension Plan Investment Board decreased its position in shares of NIKE, Inc. (NYSE:NKE) by 32.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 654,026 shares of the footwear maker’s stock after selling 315,266 shares during the quarter. Canada Pension Plan Investment Board’s holdings in NIKE were worth $49,294,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. 9258 Wealth Management LLC raised its stake in shares of NIKE by 23.9% during the fourth quarter. 9258 Wealth Management LLC now owns 4,366 shares of the footwear maker’s stock worth $474,000 after buying an additional 842 shares during the last quarter. Gryphon Financial Partners LLC raised its position in shares of NIKE by 34.6% during the 4th quarter. Gryphon Financial Partners LLC now owns 11,598 shares of the footwear maker’s stock valued at $1,259,000 after acquiring an additional 2,981 shares during the last quarter. TrinityPoint Wealth LLC lifted its stake in shares of NIKE by 0.8% in the 4th quarter. TrinityPoint Wealth LLC now owns 21,561 shares of the footwear maker’s stock valued at $2,341,000 after purchasing an additional 166 shares during the period. Cambridge Investment Research Advisors Inc. grew its stake in shares of NIKE by 6.5% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 126,803 shares of the footwear maker’s stock worth $13,767,000 after purchasing an additional 7,769 shares during the period. Finally, SageView Advisory Group LLC increased its holdings in NIKE by 192.9% in the fourth quarter. SageView Advisory Group LLC now owns 9,496 shares of the footwear maker’s stock valued at $989,000 after purchasing an additional 6,254 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors.

NIKE Trading Up 6.8 %

Shares of NYSE:NKE opened at $86.52 on Friday. NIKE, Inc. has a 52-week low of $70.75 and a 52-week high of $123.39. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.69 and a current ratio of 2.40. The company has a market capitalization of $130.59 billion, a P/E ratio of 23.20, a price-to-earnings-growth ratio of 2.08 and a beta of 1.02. The company has a 50-day simple moving average of $78.11 and a 200 day simple moving average of $87.06.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. The company had revenue of $12.60 billion during the quarter, compared to analysts’ expectations of $12.86 billion. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The business’s revenue was down 1.6% on a year-over-year basis. During the same period last year, the firm posted $0.66 earnings per share. Sell-side analysts forecast that NIKE, Inc. will post 3.06 earnings per share for the current year.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be given a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 1.71%. The ex-dividend date of this dividend is Tuesday, September 3rd. NIKE’s payout ratio is presently 39.68%.

Analysts Set New Price Targets

NKE has been the topic of a number of recent analyst reports. Truist Financial raised their target price on NIKE from $81.00 to $85.00 and gave the stock a “hold” rating in a report on Friday. Royal Bank of Canada decreased their price objective on shares of NIKE from $100.00 to $75.00 and set a “sector perform” rating for the company in a report on Tuesday, July 2nd. Evercore ISI lifted their price target on shares of NIKE from $105.00 to $110.00 and gave the stock an “outperform” rating in a research report on Friday. Jefferies Financial Group lowered their price objective on shares of NIKE from $90.00 to $80.00 in a research report on Friday, July 12th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $79.00 target price on shares of NIKE in a report on Friday. Fifteen equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, NIKE currently has a consensus rating of “Moderate Buy” and a consensus target price of $96.15.

Insider Transactions at NIKE

In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the stock in a transaction dated 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 directly owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Robert Holmes Swan acquired 2,941 shares of the stock in a transaction on Friday, June 28th. The shares were purchased at an average price of $77.02 per share, for a total transaction of $226,515.82. Following the transaction, the director now directly owns 20,946 shares of the company’s stock, valued at $1,613,260.92. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Mark G. Parker sold 52,487 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the completion of the sale, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by corporate insiders.

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.