Blair William & Co. IL Sells 43,604 Shares of NIKE, Inc. (NYSE:NKE)

Key Points

• Blair William & Co. IL reduced its stake in NIKE, Inc. by 18.0%, selling 43,604 shares and leaving them with 199,060 shares valued at approximately $12.6 million.
• Chairman Mark G. Parker sold 110,000 shares of NIKE stock, decreasing his holdings by 11.55% and retaining approximately $60.9 million in shares.
• Analysts have varied ratings on NIKE, with a consensus rating of "Moderate Buy" and an average target price of $78.22, indicating expectations of potential growth in the stock.

Blair William & Co. IL trimmed its holdings in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 18.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 199,060 shares of the footwear maker's stock after selling 43,604 shares during the quarter. Blair William & Co. IL's holdings in NIKE were worth $12,636,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in NKE. Heck Capital Advisors LLC purchased a new position in shares of NIKE in the fourth quarter worth about $28,000. EnRich Financial Partners LLC boosted its stake in NIKE by 196.4% in the 4th quarter. EnRich Financial Partners LLC now owns 412 shares of the footwear maker's stock worth $31,000 after purchasing an additional 273 shares during the period. Roxbury Financial LLC grew its holdings in NIKE by 52.1% during the 1st quarter. Roxbury Financial LLC now owns 587 shares of the footwear maker's stock valued at $37,000 after buying an additional 201 shares in the last quarter. N.E.W. Advisory Services LLC bought a new stake in shares of NIKE during the first quarter valued at about $37,000. Finally, Ritter Daniher Financial Advisory LLC DE increased its position in shares of NIKE by 95.1% during the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 513 shares of the footwear maker's stock valued at $39,000 after buying an additional 250 shares during the period. Institutional investors own 64.25% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Piper Sandler boosted their price objective on shares of NIKE from $70.00 to $80.00 and gave the company an "overweight" rating in a research note on Friday, June 27th. Wall Street Zen lowered shares of NIKE from a "hold" rating to a "sell" rating in a research report on Friday, June 27th. UBS Group began coverage on shares of NIKE in a report on Sunday, July 6th. They issued a "buy" rating on the stock. Deutsche Bank Aktiengesellschaft dropped their price objective on NIKE from $77.00 to $71.00 and set a "buy" rating for the company in a research note on Friday, June 20th. Finally, Williams Trading decreased their target price on NIKE from $93.00 to $73.00 and set a "buy" rating on the stock in a research note on Monday, April 21st. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, NIKE currently has a consensus rating of "Moderate Buy" and a consensus price target of $78.22.

Insider Buying and Selling

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the company's stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $72.29, for a total transaction of $7,951,900.00. Following the transaction, the chairman owned 842,361 shares in the company, valued at approximately $60,894,276.69. This represents a 11.55% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.80% of the stock is owned by company insiders.

NIKE Trading Down 1.6%

Shares of NYSE NKE traded down $1.20 during trading hours on Thursday, hitting $74.28. The company's stock had a trading volume of 8,712,231 shares, compared to its average volume of 11,664,490. NIKE, Inc. has a 12 month low of $52.28 and a 12 month high of $90.62. The stock has a market cap of $109.71 billion, a price-to-earnings ratio of 34.39, a P/E/G ratio of 2.74 and a beta of 1.27. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.50 and a current ratio of 2.21. The business has a 50-day simple moving average of $69.17 and a 200-day simple moving average of $67.61.

NIKE (NYSE:NKE - Get Free Report) last posted its earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.02. NIKE had a return on equity of 23.33% and a net margin of 6.95%. The firm had revenue of $11.10 billion for the quarter, compared to analysts' expectations of $10.69 billion. During the same period in the previous year, the firm earned $0.99 earnings per share. The business's revenue was down 11.9% compared to the same quarter last year. On average, analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.2%. NIKE's dividend payout ratio (DPR) is presently 74.07%.

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.