Brown Shipley& Co Ltd Reduces Stock Holdings in NIKE, Inc. $NKE

Key Points

• Brown Shipley & Co Ltd has significantly reduced its stake in NIKE, Inc. by 63.7%, now holding 18,934 shares valued at approximately $1.35 million.
• Several hedge funds made notable adjustments to their positions in NIKE, with Union Bancaire Privee UBP SA increasing its stake by 158.6% in the second quarter.
• Analyst ratings have been largely positive, with multiple brokerages upgrading NIKE and setting target prices ranging from $75 to $90, reflecting optimism about the company's future performance.

Brown Shipley& Co Ltd reduced its stake in NIKE, Inc. (NYSE:NKE - Free Report) by 63.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,934 shares of the footwear maker's stock after selling 33,185 shares during the period. NIKE accounts for about 0.7% of Brown Shipley& Co Ltd's holdings, making the stock its 23rd biggest position. Brown Shipley& Co Ltd's holdings in NIKE were worth $1,345,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Powers Advisory Group LLC grew its position in shares of NIKE by 10.0% during the second quarter. Powers Advisory Group LLC now owns 5,049 shares of the footwear maker's stock worth $359,000 after acquiring an additional 460 shares during the last quarter. Union Bancaire Privee UBP SA grew its position in shares of NIKE by 158.6% during the second quarter. Union Bancaire Privee UBP SA now owns 750 shares of the footwear maker's stock worth $53,000 after acquiring an additional 460 shares during the last quarter. Chicago Capital LLC grew its position in shares of NIKE by 22.8% during the second quarter. Chicago Capital LLC now owns 18,699 shares of the footwear maker's stock worth $1,328,000 after acquiring an additional 3,475 shares during the last quarter. Halbert Hargrove Global Advisors LLC grew its position in shares of NIKE by 952.6% during the second quarter. Halbert Hargrove Global Advisors LLC now owns 400 shares of the footwear maker's stock worth $28,000 after acquiring an additional 362 shares during the last quarter. Finally, HCR Wealth Advisors grew its position in shares of NIKE by 4.3% during the second quarter. HCR Wealth Advisors now owns 8,299 shares of the footwear maker's stock worth $590,000 after acquiring an additional 340 shares during the last quarter. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on NKE. Royal Bank Of Canada upgraded shares of NIKE from a "sector perform" rating to an "outperform" rating and raised their target price for the stock from $76.00 to $90.00 in a research report on Thursday, September 18th. Telsey Advisory Group raised their target price on shares of NIKE from $70.00 to $75.00 and gave the stock a "market perform" rating in a research report on Tuesday, September 23rd. Needham & Company LLC increased their price target on NIKE from $66.00 to $78.00 and gave the stock a "buy" rating in a report on Friday, June 27th. Hsbc Global Res raised NIKE from a "hold" rating to a "strong-buy" rating in a report on Friday, June 27th. Finally, The Goldman Sachs Group set a $85.00 price target on NIKE and gave the stock a "buy" rating in a report on Thursday, September 25th. Three investment analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, NIKE presently has an average rating of "Moderate Buy" and an average target price of $79.62.

Insider Buying and Selling

In related news, Chairman Mark G. Parker sold 86,078 shares of NIKE stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $75.93, for a total transaction of $6,535,902.54. Following the completion of the sale, the chairman owned 744,988 shares in the company, valued at approximately $56,566,938.84. This trade represents a 10.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.80% of the company's stock.

NIKE Trading Up 0.2%

Shares of NKE stock opened at $69.72 on Wednesday. NIKE, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $89.64. The stock has a market cap of $102.97 billion, a P/E ratio of 32.28, a P/E/G ratio of 2.54 and a beta of 1.24. The business has a fifty day simple moving average of $74.78 and a 200-day simple moving average of $67.27. The company has a quick ratio of 1.50, a current ratio of 2.21 and a debt-to-equity ratio of 0.60.

NIKE (NYSE:NKE - Get Free Report) last announced its quarterly earnings results on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share for the quarter, beating analysts' consensus estimates of $0.27 by $0.22. NIKE had a return on equity of 23.33% and a net margin of 6.95%.The business had revenue of $11.72 billion during the quarter, compared to analysts' expectations of $10.96 billion. During the same quarter last year, the business posted $0.70 earnings per share. The business's revenue for the quarter was up 1.0% on a year-over-year basis. On average, analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Tuesday, September 2nd. NIKE's dividend payout ratio (DPR) is currently 74.07%.

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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