E Fund Management Co. Ltd. Sells 3,436 Shares of NIKE, Inc. (NYSE:NKE)

E Fund Management Co. Ltd. lessened its stake in NIKE, Inc. (NYSE:NKE) by 25.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,032 shares of the footwear maker’s stock after selling 3,436 shares during the quarter. E Fund Management Co. Ltd.’s holdings in NIKE were worth $1,089,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. Iron Horse Wealth Management LLC raised its holdings in NIKE by 120.7% during the 4th quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock valued at $28,000 after acquiring an additional 140 shares during the period. Planned Solutions Inc. purchased a new stake in NIKE during the 4th quarter worth about $29,000. Raleigh Capital Management Inc. boosted its stake in NIKE by 134.2% in the 3rd quarter. Raleigh Capital Management Inc. now owns 377 shares of the footwear maker’s stock worth $36,000 after purchasing an additional 216 shares during the period. OFI Invest Asset Management purchased a new position in NIKE during the 3rd quarter valued at about $37,000. Finally, Mizuho Securities Co. Ltd. grew its holdings in NIKE by 100.0% during the 4th quarter. Mizuho Securities Co. Ltd. now owns 340 shares of the footwear maker’s stock valued at $37,000 after buying an additional 170 shares in the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

NIKE Trading Down 0.2 %

NIKE stock traded down $0.20 during midday trading on Thursday, reaching $93.39. The stock had a trading volume of 6,262,890 shares, compared to its average volume of 9,149,533. NIKE, Inc. has a 52-week low of $88.66 and a 52-week high of $126.46. The company has a fifty day moving average of $95.07 and a 200 day moving average of $102.84. The firm has a market cap of $140.96 billion, a price-to-earnings ratio of 27.47, a price-to-earnings-growth ratio of 1.78 and a beta of 1.07. 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 results on Thursday, March 21st. The footwear maker reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.29. NIKE had a return on equity of 39.41% and a net margin of 10.14%. The firm had revenue of $12.43 billion during the quarter, compared to analyst estimates of $12.28 billion. On average, analysts anticipate that NIKE, Inc. will post 3.73 earnings per share for the current fiscal year.

NIKE Announces Dividend

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

Analyst Upgrades and Downgrades

NKE has been the topic of several recent analyst reports. Stifel Nicolaus lowered their target price on shares of NIKE from $129.00 to $117.00 and set a “buy” rating on the stock in a research note on Friday, March 22nd. Piper Sandler decreased their price objective on shares of NIKE from $107.00 to $98.00 and set a “neutral” rating on the stock in a research report on Friday, March 22nd. Truist Financial reiterated a “hold” rating and set a $111.00 target price on shares of NIKE in a research report on Tuesday, March 19th. The Goldman Sachs Group decreased their price target on shares of NIKE from $135.00 to $120.00 and set a “buy” rating on the stock in a report on Friday, March 22nd. Finally, Evercore ISI dropped their price objective on shares of NIKE from $127.00 to $117.00 and set an “outperform” rating for the company in a report on Friday, March 22nd. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $116.26.

Insider Transactions at NIKE

In other news, EVP Monique S. Matheson sold 45,000 shares of NIKE stock in a transaction that occurred on 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 sale, the executive vice president now owns 44,997 shares of the company’s stock, valued at $4,236,917.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.50% of the company’s stock.

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.