Lyell Wealth Management LP Decreases Stake in NIKE, Inc. $NKE

Key Points

• Lyell Wealth Management LP decreased its stake in NIKE, Inc. by 44.6%, selling 19,378 shares in the second quarter, leaving it with 24,073 shares valued at $1,710,000.
• NIKE reported $0.49 EPS for the quarter, surpassing the consensus estimate of $0.27, with revenues of $11.72 billion compared to expectations of $10.96 billion.
• The company announced a quarterly dividend of $0.40 per share, representing an annualized dividend yield of 2.4%, with a dividend payout ratio of 82.05%.

Lyell Wealth Management LP lowered its position in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 44.6% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 24,073 shares of the footwear maker's stock after selling 19,378 shares during the quarter. Lyell Wealth Management LP's holdings in NIKE were worth $1,710,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the company. Mitchell Mcleod Pugh & Williams Inc. grew its holdings in shares of NIKE by 1.0% during the 2nd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 14,176 shares of the footwear maker's stock worth $1,007,000 after purchasing an additional 134 shares during the period. Caldwell Sutter Capital Inc. grew its holdings in shares of NIKE by 6.3% during the 2nd quarter. Caldwell Sutter Capital Inc. now owns 2,390 shares of the footwear maker's stock worth $170,000 after purchasing an additional 142 shares during the period. Salomon & Ludwin LLC grew its holdings in shares of NIKE by 10.1% during the 2nd quarter. Salomon & Ludwin LLC now owns 1,575 shares of the footwear maker's stock worth $120,000 after purchasing an additional 145 shares during the period. Westmount Partners LLC grew its holdings in shares of NIKE by 2.9% during the 2nd quarter. Westmount Partners LLC now owns 5,165 shares of the footwear maker's stock worth $367,000 after purchasing an additional 146 shares during the period. Finally, HB Wealth Management LLC grew its holdings in shares of NIKE by 0.3% during the 2nd quarter. HB Wealth Management LLC now owns 52,012 shares of the footwear maker's stock worth $3,695,000 after purchasing an additional 147 shares during the period. Hedge funds and other institutional investors own 64.25% of the company's stock.

NIKE Stock Performance

NIKE stock opened at $67.46 on Monday. The stock has a market cap of $99.72 billion, a P/E ratio of 34.59, a price-to-earnings-growth ratio of 2.48 and a beta of 1.29. The company has a current ratio of 2.19, a quick ratio of 1.45 and a debt-to-equity ratio of 0.59. The stock has a 50 day moving average of $73.10 and a 200-day moving average of $67.48. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $83.95.

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

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.4%. The ex-dividend date was Tuesday, September 2nd. NIKE's dividend payout ratio is 82.05%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on NKE shares. Telsey Advisory Group restated a "market perform" rating and issued a $75.00 price target on shares of NIKE in a report on Wednesday, October 1st. Wall Street Zen upgraded NIKE from a "sell" rating to a "hold" rating in a report on Saturday, September 6th. Cowen upgraded NIKE from a "hold" rating to a "buy" rating in a report on Wednesday, September 10th. BTIG Research started coverage on NIKE in a report on Tuesday, October 14th. They issued a "buy" rating and a $100.00 price target for the company. Finally, Truist Financial restated a "buy" rating and issued a $85.00 price target on shares of NIKE in a report on Wednesday, October 1st. Three analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and eight have given a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $82.21.

Insider Activity at NIKE

In related news, EVP Treasure Heinle sold 4,300 shares of the company's stock in a transaction that occurred on Monday, October 6th. The stock was sold at an average price of $71.27, for a total transaction of $306,461.00. Following the sale, the executive vice president directly owned 29,396 shares of the company's stock, valued at approximately $2,095,052.92. This represents a 12.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Mark G. Parker sold 86,078 shares of the company's stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $75.93, for a total value of $6,535,902.54. Following the sale, the chairman directly owned 744,988 shares in the company, valued at approximately $56,566,938.84. This represents a 10.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate 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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