Leavell Investment Management Inc. Lowers Position in NIKE, Inc. (NYSE:NKE)

Leavell Investment Management Inc. lessened its stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 15.1% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 25,919 shares of the footwear maker's stock after selling 4,605 shares during the period. Leavell Investment Management Inc.'s holdings in NIKE were worth $1,658,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Heck Capital Advisors LLC purchased a new position in shares of NIKE in the fourth quarter valued at about $28,000. Hopwood Financial Services Inc. purchased a new position in shares of NIKE in the fourth quarter valued at about $30,000. LFA Lugano Financial Advisors SA lifted its position in shares of NIKE by 110.5% in the fourth quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker's stock valued at $30,000 after acquiring an additional 210 shares in the last quarter. EnRich Financial Partners LLC lifted its position in shares of NIKE by 196.4% in the fourth quarter. EnRich Financial Partners LLC now owns 412 shares of the footwear maker's stock valued at $31,000 after acquiring an additional 273 shares in the last quarter. Finally, Ritter Daniher Financial Advisory LLC DE lifted its position in shares of NIKE by 95.1% in the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 513 shares of the footwear maker's stock valued at $39,000 after acquiring an additional 250 shares in the last quarter. Institutional investors own 64.25% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on NKE shares. The Goldman Sachs Group boosted their price objective on NIKE from $72.00 to $81.00 and gave the company a "buy" rating in a research report on Friday, June 27th. Jefferies Financial Group restated a "buy" rating on shares of NIKE in a research report on Friday, May 23rd. Telsey Advisory Group restated a "market perform" rating and issued a $70.00 price objective on shares of NIKE in a research report on Friday, June 27th. 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. Finally, Wells Fargo & Company boosted their target price on NIKE from $55.00 to $60.00 and gave the stock an "equal weight" rating in a research report on Wednesday, May 14th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, sixteen have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, NIKE has a consensus rating of "Moderate Buy" and a consensus price target of $77.15.

NIKE Trading Down 2.6%

Shares of NKE traded down $1.96 during mid-day trading on Friday, reaching $72.66. 12,749,362 shares of the company's stock traded hands, compared to its average volume of 15,230,400. The stock has a market cap of $107.47 billion, a P/E ratio of 33.64, a P/E/G ratio of 2.70 and a beta of 1.25. The stock's 50-day moving average is $63.78 and its two-hundred day moving average is $67.43. NIKE, Inc. has a 12 month low of $52.28 and a 12 month high of $90.62. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.21 and a quick ratio of 1.50.

NIKE (NYSE:NKE - Get Free Report) last announced its quarterly earnings data on Thursday, June 26th. The footwear maker reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $10.69 billion. During the same quarter in the prior year, the firm earned $0.99 earnings per share. NIKE's revenue was down 11.9% compared to the same quarter last year. Research analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Monday, June 2nd were paid a $0.40 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $1.60 annualized dividend and a yield of 2.20%. NIKE's dividend payout ratio (DPR) is currently 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.