Duff & Phelps Investment Management Co. Has $211,000 Position in NIKE, Inc. (NYSE:NKE)

Duff & Phelps Investment Management Co. cut its stake in shares of NIKE, Inc. (NYSE:NKE) by 80.1% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,803 shares of the footwear maker’s stock after selling 11,313 shares during the period. Duff & Phelps Investment Management Co.’s holdings in NIKE were worth $211,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in shares of NIKE by 0.5% in the first quarter. Vanguard Group Inc. now owns 110,044,821 shares of the footwear maker’s stock worth $10,342,012,000 after acquiring an additional 501,792 shares during the last quarter. Capital International Investors increased its position in NIKE by 34.9% in the 4th 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 during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of NIKE by 87.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 17,135,431 shares of the footwear maker’s stock worth $1,860,395,000 after purchasing an additional 7,996,434 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of NIKE by 5.5% during the 2nd quarter. Legal & General Group Plc now owns 11,049,294 shares of the footwear maker’s stock valued at $832,785,000 after buying an additional 571,544 shares during the last quarter. Finally, Fisher Asset Management LLC grew its stake in shares of NIKE by 2.2% in the 4th quarter. Fisher Asset Management LLC now owns 9,880,038 shares of the footwear maker’s stock valued at $1,072,676,000 after buying an additional 211,360 shares in the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

Insider Buying and Selling at NIKE

In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of NIKE stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the completion of the transaction, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at $80,435,628. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the company’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the sale, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at $80,419,507.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Mark G. Parker sold 52,487 shares of NIKE stock in a transaction that occurred on 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 transaction, the chairman now 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. Company insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Jefferies Financial Group reduced their target price on shares of NIKE from $90.00 to $80.00 in a research note on Friday, July 12th. Piper Sandler reissued a “neutral” rating and set a $80.00 target price on shares of NIKE in a research report on Friday, September 20th. Barclays raised their target price on NIKE from $80.00 to $84.00 and gave the company an “equal weight” rating in a report on Wednesday, September 18th. JPMorgan Chase & Co. lowered their price objective on NIKE from $83.00 to $80.00 and set a “neutral” rating on the stock in a report on Monday, September 23rd. Finally, KeyCorp reissued a “sector weight” rating on shares of NIKE in a research note on Friday, June 28th. Fifteen research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $96.52.

NIKE Price Performance

NYSE:NKE opened at $89.44 on Monday. 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 50-day moving average of $79.67 and a 200-day moving average of $86.57. NIKE, Inc. has a 52 week low of $70.75 and a 52 week high of $123.39. The company has a market capitalization of $135.00 billion, a price-to-earnings ratio of 23.98, a PEG ratio of 2.30 and a beta of 1.02.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.16. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The firm had revenue of $12.60 billion during the quarter, compared to analysts’ expectations of $12.86 billion. During the same quarter last year, the company earned $0.66 earnings per share. The company’s revenue for the quarter was down 1.6% compared to the same quarter last year. As a group, equities research analysts anticipate that NIKE, Inc. will post 3.04 earnings per share for the current fiscal year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.65%. The ex-dividend date is Tuesday, September 3rd. NIKE’s dividend payout ratio is 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.