Allspring Global Investments Holdings LLC Sells 268,820 Shares of NIKE, Inc. $NKE

Allspring Global Investments Holdings LLC reduced its holdings in shares of NIKE, Inc. (NYSE:NKE) by 32.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 568,922 shares of the footwear maker’s stock after selling 268,820 shares during the period. Allspring Global Investments Holdings LLC’s holdings in NIKE were worth $30,050,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Westerkirk Capital Inc. increased its stake in NIKE by 52.4% in the 4th quarter. Westerkirk Capital Inc. now owns 131,220 shares of the footwear maker’s stock worth $8,360,000 after buying an additional 45,100 shares in the last quarter. OMERS ADMINISTRATION Corp lifted its position in shares of NIKE by 77.9% in the fourth quarter. OMERS ADMINISTRATION Corp now owns 2,526,179 shares of the footwear maker’s stock valued at $160,943,000 after acquiring an additional 1,106,499 shares in the last quarter. PFA Pension Forsikringsaktieselskab bought a new position in shares of NIKE in the fourth quarter worth about $43,188,000. Nicholas Company Inc. boosted its stake in shares of NIKE by 33.3% in the fourth quarter. Nicholas Company Inc. now owns 123,652 shares of the footwear maker’s stock worth $7,878,000 after acquiring an additional 30,890 shares during the period. Finally, Stoneridge Investment Partners LLC grew its position in shares of NIKE by 1,253.6% during the fourth quarter. Stoneridge Investment Partners LLC now owns 78,846 shares of the footwear maker’s stock worth $5,023,000 after purchasing an additional 73,021 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors.

NIKE Stock Up 0.0%

Shares of NYSE:NKE opened at $43.78 on Monday. The company has a market cap of $64.83 billion, a price-to-earnings ratio of 20.95, a PEG ratio of 2.53 and a beta of 1.12. NIKE, Inc. has a 12 month low of $40.00 and a 12 month high of $80.17. The company has a current ratio of 1.96, a quick ratio of 1.36 and a debt-to-equity ratio of 0.40. The company has a 50-day moving average price of $43.67 and a 200 day moving average price of $51.79.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Tuesday, June 30th. The footwear maker reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.09. The company had revenue of $10.97 billion for the quarter, compared to analysts’ expectations of $10.85 billion. NIKE had a return on equity of 16.54% and a net margin of 6.70%.The firm’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.14 earnings per share. As a group, equities research analysts predict that NIKE, Inc. will post 1.75 earnings per share for the current year.

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st were given a dividend of $0.41 per share. The ex-dividend date was Monday, June 1st. This represents a $1.64 dividend on an annualized basis and a yield of 3.7%. NIKE’s payout ratio is 78.47%.

Insider Buying and Selling at NIKE

In other news, EVP Philip Mccartney sold 17,398 shares of the stock in a transaction on Friday, June 12th. The shares were sold at an average price of $46.18, for a total value of $803,439.64. Following the sale, the executive vice president owned 53,133 shares of the company’s stock, valued at approximately $2,453,681.94. This represents a 24.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 0.80% of the company’s stock.

Analyst Ratings Changes

NKE has been the topic of several recent analyst reports. Robert W. Baird reiterated an “outperform” rating and set a $70.00 price objective on shares of NIKE in a research report on Wednesday, July 1st. Bank of America dropped their target price on shares of NIKE from $55.00 to $47.00 and set a “neutral” rating for the company in a research report on Wednesday, July 1st. Guggenheim reaffirmed a “buy” rating and set a $60.00 target price (down from $74.00) on shares of NIKE in a research note on Wednesday, July 1st. Argus upgraded shares of NIKE to a “strong-buy” rating in a report on Wednesday, July 15th. Finally, The Goldman Sachs Group decreased their price target on shares of NIKE from $46.00 to $42.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 1st. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nineteen have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $54.80.

NIKE Company 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).