Integrated Wealth Concepts LLC Sells 8,085 Shares of NIKE, Inc. $NKE

Key Points

• Integrated Wealth Concepts LLC reduced its holdings in NIKE, Inc. by 31.9%, selling 8,085 shares and holding 17,261 shares valued at approximately $1.1 million at the end of the reporting period.
• Goldman Sachs increased its stake in NIKE by 344.2%, now owning over 26 million shares, while Vanguard Group's position rose to 113 million shares, reflecting significant institutional interest in the company.
• NIKE reported earnings of $0.14 per share, exceeding expectations, with quarterly revenue of $11.1 billion, although this showed a decline of 11.9% year-over-year.

Integrated Wealth Concepts LLC trimmed its holdings in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 31.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,261 shares of the footwear maker's stock after selling 8,085 shares during the quarter. Integrated Wealth Concepts LLC's holdings in NIKE were worth $1,096,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. grew its stake in shares of NIKE by 344.2% during the first quarter. Goldman Sachs Group Inc. now owns 26,698,835 shares of the footwear maker's stock worth $1,694,842,000 after acquiring an additional 20,688,013 shares during the last quarter. Wellington Management Group LLP boosted its position in NIKE by 24.9% in the first quarter. Wellington Management Group LLP now owns 45,383,916 shares of the footwear maker's stock valued at $2,880,971,000 after buying an additional 9,043,180 shares during the last quarter. Jennison Associates LLC purchased a new stake in NIKE in the first quarter valued at approximately $509,051,000. Nuveen LLC purchased a new stake in NIKE in the first quarter valued at approximately $502,285,000. Finally, Vanguard Group Inc. boosted its position in NIKE by 4.6% in the first quarter. Vanguard Group Inc. now owns 113,151,080 shares of the footwear maker's stock valued at $7,182,831,000 after buying an additional 4,957,494 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company's stock.

NIKE Trading Up 0.8%

Shares of NKE stock opened at $74.22 on Thursday. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.21 and a quick ratio of 1.50. The company has a market cap of $109.61 billion, a price-to-earnings ratio of 34.36, a PEG ratio of 2.67 and a beta of 1.24. The stock has a 50 day simple moving average of $75.50 and a 200-day simple moving average of $67.91. NIKE, Inc. has a 1-year low of $52.28 and a 1-year high of $90.62.

NIKE (NYSE:NKE - Get Free Report) last announced its earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.02. The business had revenue of $11.10 billion during 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%.The business's quarterly revenue was down 11.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.99 EPS. On average, equities research analysts expect that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

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 paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Tuesday, September 2nd. NIKE's dividend payout ratio is presently 74.07%.

Analyst Ratings Changes

A number of equities research analysts recently commented on NKE shares. Zacks Research upgraded NIKE from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 26th. Truist Financial dropped their target price on NIKE from $82.00 to $73.00 and set a "buy" rating on the stock in a research report on Tuesday, June 24th. TD Cowen raised NIKE from a "hold" rating to a "buy" rating and boosted their price target for the company from $62.00 to $85.00 in a report on Wednesday. Wall Street Zen raised NIKE from a "sell" rating to a "hold" rating in a report on Saturday, September 6th. Finally, Cowen raised NIKE from a "hold" rating to a "buy" rating in a report on Wednesday. Three research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, NIKE has an average rating of "Moderate Buy" and an average target price of $78.67.

Insider Buying and Selling at NIKE

In other 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 completion of the transaction, the chairman directly owned 842,361 shares of the company's stock, valued at $60,894,276.69. This represents a 11.55% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 0.80% of the stock is currently owned by insiders.

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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