Inspire Trust Co. N.A. Sells 11,300 Shares of NIKE, Inc. (NYSE:NKE)

Key Points

• Inspire Trust Co. N.A. has reduced its stake in NIKE, Inc. by 28.5%, holding 28,392 shares valued at approximately $1.80 million after selling 11,300 shares in the first quarter.
• Analysts have varied ratings on NIKE, with a consensus of “Moderate Buy” and an average price target of $78.22, although there have been significant revisions in target prices by several brokerages.
• NIKE recently announced a quarterly dividend of $0.40 per share, reflecting a 2.1% yield, with the payout ratio at 74.07%.

Inspire Trust Co. N.A. lessened its holdings in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 28.5% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 28,392 shares of the footwear maker's stock after selling 11,300 shares during the period. Inspire Trust Co. N.A.'s holdings in NIKE were worth $1,802,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. AlTi Global Inc. lifted its stake in shares of NIKE by 0.4% during the fourth quarter. AlTi Global Inc. now owns 36,996 shares of the footwear maker's stock valued at $2,813,000 after acquiring an additional 150 shares during the period. Cohen & Steers Inc. lifted its stake in shares of NIKE by 5.3% during the fourth quarter. Cohen & Steers Inc. now owns 3,171 shares of the footwear maker's stock valued at $240,000 after acquiring an additional 160 shares during the period. Peregrine Asset Advisers Inc. lifted its stake in shares of NIKE by 1.2% during the first quarter. Peregrine Asset Advisers Inc. now owns 15,119 shares of the footwear maker's stock valued at $934,000 after acquiring an additional 181 shares during the period. Aaron Wealth Advisors LLC lifted its stake in shares of NIKE by 4.3% during the first quarter. Aaron Wealth Advisors LLC now owns 4,666 shares of the footwear maker's stock valued at $296,000 after acquiring an additional 192 shares during the period. Finally, Crew Capital Management Ltd. lifted its stake in shares of NIKE by 1.4% during the first quarter. Crew Capital Management Ltd. now owns 13,752 shares of the footwear maker's stock valued at $873,000 after acquiring an additional 192 shares during the period. Institutional investors own 64.25% of the company's stock.

Insiders Place Their Bets

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

NIKE Stock Performance

Shares of NKE traded up $0.78 during mid-day trading on Friday, reaching $77.17. The company's stock had a trading volume of 9,764,949 shares, compared to its average volume of 10,925,215. NIKE, Inc. has a 1-year low of $52.28 and a 1-year high of $90.62. The stock has a market cap of $113.97 billion, a P/E ratio of 35.73, a PEG ratio of 2.80 and a beta of 1.27. The business has a 50-day simple moving average of $71.05 and a two-hundred day simple moving average of $67.63. The company has a current ratio of 2.21, a quick ratio of 1.50 and a debt-to-equity ratio of 0.60.

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

NIKE Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Tuesday, September 2nd. NIKE's dividend payout ratio (DPR) is presently 74.07%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on NKE. Argus raised NIKE to a "buy" rating in a research note on Sunday, July 6th. Hsbc Global Res raised NIKE from a "hold" rating to a "strong-buy" rating in a research note on Friday, June 27th. Deutsche Bank Aktiengesellschaft cut their target price on NIKE from $77.00 to $71.00 and set a "buy" rating on the stock in a research note on Friday, June 20th. UBS Group started coverage on NIKE in a research note on Sunday, July 6th. They issued a "buy" rating on the stock. Finally, Wells Fargo & Company increased their target price on NIKE from $55.00 to $60.00 and gave the company an "equal weight" rating in a research note on Wednesday, May 14th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, seventeen have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $78.22.

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.