Kingswood Wealth Advisors LLC Sells 35,953 Shares of NIKE, Inc. $NKE

Kingswood Wealth Advisors LLC trimmed its stake in NIKE, Inc. (NYSE:NKE - Free Report) by 77.4% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,494 shares of the footwear maker's stock after selling 35,953 shares during the quarter. Kingswood Wealth Advisors LLC's holdings in NIKE were worth $745,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of NKE. Stone House Investment Management LLC bought a new position in NIKE in the first quarter valued at approximately $25,000. Mascoma Wealth Management LLC bought a new position in shares of NIKE during the 2nd quarter worth approximately $26,000. Halbert Hargrove Global Advisors LLC boosted its stake in shares of NIKE by 952.6% during 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 period. Saudi Central Bank bought a new position in shares of NIKE during the 1st quarter worth approximately $30,000. Finally, Matrix Trust Co boosted its stake in shares of NIKE by 53.1% during the 2nd quarter. Matrix Trust Co now owns 441 shares of the footwear maker's stock worth $31,000 after acquiring an additional 153 shares during the period. 64.25% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on NKE shares. Truist Financial reiterated a "buy" rating and set a $85.00 target price on shares of NIKE in a research note on Wednesday, October 1st. Argus upgraded NIKE to a "buy" rating in a research note on Sunday, July 6th. Telsey Advisory Group reiterated a "market perform" rating and set a $75.00 target price on shares of NIKE in a research note on Wednesday, October 1st. Evercore ISI reduced their target price on NIKE from $97.00 to $75.00 and set an "outperform" rating for the company in a research note on Tuesday, June 24th. Finally, Zacks Research raised NIKE from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 26th. Three analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $81.57.

NIKE Trading Up 0.3%

NYSE NKE opened at $69.10 on Thursday. The business's fifty day moving average is $74.12 and its 200 day moving average is $67.29. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $84.76. The company has a market cap of $102.05 billion, a price-to-earnings ratio of 35.44, a price-to-earnings-growth ratio of 2.52 and a beta of 1.29. The company has a quick ratio of 1.45, a current ratio of 2.19 and a debt-to-equity ratio of 0.59.

NIKE (NYSE:NKE - Get Free Report) last announced its quarterly earnings results on Tuesday, September 30th. The footwear maker reported $0.49 EPS for the quarter, beating analysts' consensus estimates of $0.27 by $0.22. NIKE had a return on equity of 21.16% and a net margin of 6.23%.The firm had revenue of $11.72 billion for the quarter, compared to analyst estimates of $10.96 billion. During the same period last year, the firm posted $0.70 earnings per share. The business's revenue for the quarter was up 1.0% on a year-over-year basis. As a group, sell-side analysts expect that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $1.60 annualized dividend and a yield of 2.3%. NIKE's payout ratio is presently 82.05%.

Insider Activity

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction dated 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 transaction, the chairman directly owned 842,361 shares of the company's stock, valued at approximately $60,894,276.69. The trade was a 11.55% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Treasure Heinle sold 4,300 shares of NIKE stock in a transaction dated Monday, October 6th. The stock was sold at an average price of $71.27, for a total value of $306,461.00. Following the transaction, the executive vice president directly owned 29,396 shares in the company, valued at $2,095,052.92. The trade was a 12.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 200,378 shares of company stock worth $14,794,264 over the last ninety days. Company insiders own 0.80% of the company's stock.

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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