L. Roy Papp & Associates LLP Sells 16,460 Shares of NIKE, Inc. $NKE

Key Points

• L. Roy Papp & Associates LLP reduced its holdings in NIKE, Inc. by 32.2%, selling 16,460 shares, resulting in ownership of 34,669 shares worth approximately $2.46 million.
• Research analysts have set a consensus target price of $81.57 for NIKE, with a rating of "Moderate Buy," supported by multiple buy ratings from firms like Goldman Sachs and Bank of America.
• NIKE recently declared a quarterly dividend of $0.40 per share, which offers an annualized yield of 2.3% with a payout ratio of 82.05%.

L. Roy Papp & Associates LLP cut its position in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 32.2% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 34,669 shares of the footwear maker's stock after selling 16,460 shares during the period. L. Roy Papp & Associates LLP's holdings in NIKE were worth $2,463,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Brighton Jones LLC increased its holdings in shares of NIKE by 388.5% in the 4th quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker's stock valued at $15,316,000 after acquiring an additional 160,980 shares during the period. Park Avenue Securities LLC increased its holdings in shares of NIKE by 12.1% in the 1st quarter. Park Avenue Securities LLC now owns 16,705 shares of the footwear maker's stock valued at $1,060,000 after acquiring an additional 1,806 shares during the period. Harbor Capital Advisors Inc. increased its holdings in shares of NIKE by 32.1% in the 1st quarter. Harbor Capital Advisors Inc. now owns 21,766 shares of the footwear maker's stock valued at $1,382,000 after acquiring an additional 5,291 shares during the period. GAMMA Investing LLC increased its holdings in shares of NIKE by 39.1% in the 1st quarter. GAMMA Investing LLC now owns 20,877 shares of the footwear maker's stock valued at $1,325,000 after acquiring an additional 5,863 shares during the period. Finally, Trueblood Wealth Management LLC purchased a new position in shares of NIKE in the 1st quarter valued at $256,000. 64.25% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. The Goldman Sachs Group set a $85.00 price target on NIKE and gave the company a "buy" rating in a report on Thursday, September 25th. Bank of America lifted their price target on NIKE from $80.00 to $84.00 and gave the company a "buy" rating in a report on Friday, June 27th. Sanford C. Bernstein restated a "buy" rating and set a $90.00 target price on shares of NIKE in a research note on Wednesday, October 1st. Deutsche Bank Aktiengesellschaft dropped 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. Finally, TD Cowen upgraded NIKE from a "hold" rating to a "buy" rating and boosted their target price for the stock from $62.00 to $85.00 in a research note on Wednesday, September 10th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $81.57.

NIKE Stock Down 1.4%

NIKE stock opened at $68.09 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.45 and a current ratio of 2.19. The business's 50-day simple moving average is $73.99 and its two-hundred day simple moving average is $67.29. The company has a market cap of $100.56 billion, a PE ratio of 34.92, a PEG ratio of 2.52 and a beta of 1.29. NIKE, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $84.76.

NIKE (NYSE:NKE - Get Free Report) last posted its quarterly earnings results on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.22. The business had revenue of $11.72 billion for the quarter, compared to the consensus estimate of $10.96 billion. NIKE had a return on equity of 21.16% and a net margin of 6.23%.The company's quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.70 EPS. Equities analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

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

Insider Activity

In other NIKE news, Chairman Mark G. Parker sold 86,078 shares of the business's 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 sale, the chairman owned 744,988 shares in the company, valued at approximately $56,566,938.84. The trade was a 10.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Treasure Heinle sold 4,300 shares of the business's stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $71.27, for a total value of $306,461.00. Following the sale, the executive vice president owned 29,396 shares in the company, valued at approximately $2,095,052.92. The trade was a 12.76% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 200,378 shares of company stock worth $14,794,264. Company insiders own 0.80% of the company's stock.

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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