Truist Financial Corp Sells 20,453 Shares of NIKE, Inc. $NKE

Truist Financial Corp decreased its holdings in shares of NIKE, Inc. (NYSE:NKE) by 5.4% during the third quarter, according to its most recent filing with the SEC. The firm owned 356,632 shares of the footwear maker’s stock after selling 20,453 shares during the period. Truist Financial Corp’s holdings in NIKE were worth $24,868,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Norges Bank purchased a new stake in NIKE during the second quarter worth $835,063,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its position in shares of NIKE by 3,129.9% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 9,091,426 shares of the footwear maker’s stock worth $645,855,000 after acquiring an additional 8,809,950 shares in the last quarter. Harris Associates L P purchased a new stake in shares of NIKE during the 2nd quarter worth $621,525,000. Invesco Ltd. boosted its position in NIKE by 66.1% during the second quarter. Invesco Ltd. now owns 12,157,198 shares of the footwear maker’s stock valued at $863,647,000 after purchasing an additional 4,840,114 shares in the last quarter. Finally, Jennison Associates LLC boosted its position in NIKE by 42.3% during the third quarter. Jennison Associates LLC now owns 11,838,528 shares of the footwear maker’s stock valued at $825,501,000 after purchasing an additional 3,518,666 shares in the last quarter. Institutional investors own 64.25% of the company’s stock.

NIKE Stock Performance

Shares of NKE stock opened at $61.84 on Friday. The business has a fifty day moving average of $63.96 and a 200 day moving average of $68.69. NIKE, Inc. has a 1 year low of $52.28 and a 1 year high of $82.44. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.06 and a quick ratio of 1.40. The firm has a market capitalization of $91.55 billion, a price-to-earnings ratio of 36.38, a price-to-earnings-growth ratio of 3.20 and a beta of 1.28.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, December 18th. The footwear maker reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.16. NIKE had a return on equity of 18.43% and a net margin of 5.43%.The business had revenue of $12.43 billion for the quarter, compared to analyst estimates of $12.19 billion. During the same period in the prior year, the company earned $0.78 earnings per share. The company’s revenue was up .6% on a year-over-year basis. As a group, research analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 2nd. Shareholders of record on Monday, December 1st were given a dividend of $0.41 per share. The ex-dividend date of this dividend was Monday, December 1st. This represents a $1.64 dividend on an annualized basis and a yield of 2.7%. This is a boost from NIKE’s previous quarterly dividend of $0.40. NIKE’s payout ratio is 96.47%.

Analysts Set New Price Targets

A number of equities analysts have commented on NKE shares. Sanford C. Bernstein reiterated a “buy” rating and issued a $85.00 target price on shares of NIKE in a report on Tuesday, January 6th. Raymond James Financial reiterated a “market perform” rating on shares of NIKE in a research note on Monday, December 15th. UBS Group reissued a “neutral” rating on shares of NIKE in a research report on Monday, January 5th. Robert W. Baird lowered their target price on shares of NIKE from $93.00 to $85.00 and set an “outperform” rating for the company in a research note on Friday, December 19th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $110.00 price target on shares of NIKE in a research report on Monday, January 12th. Two analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $74.65.

Insider Buying and Selling at NIKE

In other NIKE news, Director Robert Holmes Swan bought 8,691 shares of the firm’s stock in a transaction that occurred on Monday, December 22nd. The stock was bought at an average cost of $57.54 per share, for a total transaction of $500,080.14. Following the completion of the transaction, the director directly owned 43,293 shares of the company’s stock, valued at approximately $2,491,079.22. This trade represents a 25.12% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Elliott Hill purchased 16,388 shares of the stock in a transaction on Monday, December 29th. The stock was acquired at an average cost of $61.10 per share, for a total transaction of $1,001,306.80. Following the completion of the acquisition, the chief executive officer owned 241,587 shares of the company’s stock, valued at $14,760,965.70. The trade was a 7.28% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders acquired 91,229 shares of company stock worth $5,452,640. Corporate insiders own 0.80% of the company’s stock.

NIKE Profile

Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).