Greenleaf Trust Lowers Holdings in NIKE, Inc. $NKE

Key Points

• Greenleaf Trust has decreased its holdings in NIKE, Inc. by 8.2%, owning 118,839 shares valued at approximately $8.4 million after selling 10,669 shares in Q2.
• Several analysts have upgraded their ratings for NIKE, with JPMorgan Chase & Co. raising its price target to $93.00 and classifying the stock as "overweight."
• The company recently announced a quarterly dividend of $0.40 per share, with a dividend yield of 2.3% and a payout ratio of 74.07%.

Greenleaf Trust decreased its position in NIKE, Inc. (NYSE:NKE - Free Report) by 8.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 118,839 shares of the footwear maker's stock after selling 10,669 shares during the period. Greenleaf Trust's holdings in NIKE were worth $8,442,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Stone House Investment Management LLC purchased a new stake in shares of NIKE during the first quarter valued at approximately $25,000. Halbert Hargrove Global Advisors LLC raised its holdings in NIKE by 952.6% in the 2nd 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. Saudi Central Bank bought a new position in NIKE in the 1st quarter valued at approximately $30,000. Matrix Trust Co boosted its stake in NIKE by 53.1% during the 2nd quarter. Matrix Trust Co now owns 441 shares of the footwear maker's stock valued at $31,000 after purchasing an additional 153 shares during the last quarter. Finally, Opal Wealth Advisors LLC bought a new stake in shares of NIKE in the 2nd quarter worth $35,000. 64.25% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Hsbc Global Res upgraded NIKE from a "hold" rating to a "strong-buy" rating in a research note on Friday, June 27th. Evercore ISI reduced their price objective on NIKE from $97.00 to $75.00 and set an "outperform" rating for the company in a report on Tuesday, June 24th. Piper Sandler boosted their target price on NIKE from $70.00 to $80.00 and gave the stock an "overweight" rating in a research report on Friday, June 27th. Morgan Stanley raised their price target on shares of NIKE from $64.00 to $70.00 and gave the company an "equal weight" rating in a report on Tuesday, September 23rd. Finally, JPMorgan Chase & Co. raised shares of NIKE from a "neutral" rating to an "overweight" rating and boosted their price objective for the company from $64.00 to $93.00 in a report on Monday, July 28th. Three equities research 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. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $79.62.

Insider Transactions at NIKE

In other NIKE news, Chairman Mark G. Parker sold 86,078 shares of the stock in a transaction dated Thursday, August 14th. The shares were 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 owned 744,988 shares in the company, valued at approximately $56,566,938.84. This represents a 10.36% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.80% of the company's stock.

NIKE Stock Performance

NYSE NKE opened at $69.57 on Tuesday. The stock has a market capitalization of $102.75 billion, a price-to-earnings ratio of 32.21, a PEG ratio of 2.53 and a beta of 1.24. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $89.75. The company has a current ratio of 2.21, a quick ratio of 1.50 and a debt-to-equity ratio of 0.60. The stock has a 50-day moving average of $74.90 and a 200 day moving average of $67.25.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.3%. NIKE's dividend payout ratio is presently 74.07%.

NIKE 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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