Brady Family Wealth LLC Cuts Stock Holdings in NIKE, Inc. $NKE

Key Points

• Brady Family Wealth LLC has reduced its stock holdings in NIKE, Inc. by 13.4%, now owning 41,442 shares valued at approximately $2.94 million.
• Insider trading activity included Chairman Mark G. Parker selling 86,078 shares for over $6.5 million, representing a decrease of 10.36% in his ownership.
• Recent earnings showed NIKE's revenue down 11.9% year-over-year, but earnings per share exceeded expectations, highlighting ongoing market activity despite challenges.

Brady Family Wealth LLC reduced its position in NIKE, Inc. (NYSE:NKE - Free Report) by 13.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 41,442 shares of the footwear maker's stock after selling 6,387 shares during the quarter. Brady Family Wealth LLC's holdings in NIKE were worth $2,944,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Heck Capital Advisors LLC purchased a new position in shares of NIKE in the 4th quarter worth about $28,000. Stone House Investment Management LLC purchased a new position in NIKE in the first quarter valued at approximately $25,000. Saudi Central Bank purchased a new position in NIKE in the first quarter valued at approximately $30,000. Putney Financial Group LLC purchased a new position in NIKE in the fourth quarter valued at approximately $40,000. Finally, N.E.W. Advisory Services LLC purchased a new position in NIKE in the first quarter valued at approximately $37,000. 64.25% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at NIKE

In related news, Chairman Mark G. Parker sold 86,078 shares of the business's stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $75.93, for a total value of $6,535,902.54. Following the completion of the sale, the chairman directly owned 744,988 shares of the company's stock, valued at $56,566,938.84. The trade was a 10.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.80% of the company's stock.

NIKE Stock Down 0.3%

Shares of NYSE NKE opened at $72.09 on Friday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.50 and a current ratio of 2.21. NIKE, Inc. has a 1 year low of $52.28 and a 1 year high of $90.62. The stock's 50-day simple moving average is $75.22 and its 200-day simple moving average is $67.61. The firm has a market cap of $106.47 billion, a price-to-earnings ratio of 33.37, a PEG ratio of 2.63 and a beta of 1.24.

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

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd will be given a $0.40 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.2%. NIKE's payout ratio is presently 74.07%.

Analyst Upgrades and Downgrades

NKE has been the topic of a number of research reports. Needham & Company LLC raised their target price on shares of NIKE from $66.00 to $78.00 and gave the company a "buy" rating in a research note on Friday, June 27th. Zacks Research raised NIKE from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 26th. TD Cowen raised NIKE from a "hold" rating to a "buy" rating and raised their price objective for the company from $62.00 to $85.00 in a research report on Wednesday, September 10th. JPMorgan Chase & Co. upgraded NIKE from a "neutral" rating to an "overweight" rating and raised their target price for the company from $64.00 to $93.00 in a report on Monday, July 28th. Finally, Citigroup raised their target price on NIKE from $68.00 to $74.00 and gave the company a "neutral" rating in a report on Tuesday. Three research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $78.73.

NIKE Company Profile

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.

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