MCF Advisors LLC Sells 4,177 Shares of NIKE, Inc. $NKE

Key Points

• MCF Advisors LLC has reduced its stake in NIKE, Inc. by 39.2% during the 2nd quarter, now holding 6,470 shares valued at approximately $461,000.
• Analysts have varying ratings on NIKE, with a consensus rating of "Moderate Buy" and a target price of $79.04, following several upgrades from different firms.
• NIKE recently announced a quarterly dividend of $0.40, with a dividend yield of 2.2%, set to be paid on October 1st.

MCF Advisors LLC lessened its position in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 39.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,470 shares of the footwear maker's stock after selling 4,177 shares during the quarter. MCF Advisors LLC's holdings in NIKE were worth $461,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Spire Wealth Management raised its stake in shares of NIKE by 4.4% during the 1st quarter. Spire Wealth Management now owns 9,872 shares of the footwear maker's stock worth $627,000 after acquiring an additional 416 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich grew its position in NIKE by 0.6% during the 1st quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,008,340 shares of the footwear maker's stock worth $69,932,000 after purchasing an additional 5,601 shares during the last quarter. Mackenzie Financial Corp grew its position in NIKE by 75.1% during the 4th quarter. Mackenzie Financial Corp now owns 539,650 shares of the footwear maker's stock worth $40,835,000 after purchasing an additional 231,417 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd purchased a new stake in NIKE during the 1st quarter worth approximately $25,963,000. Finally, BROOKFIELD Corp ON grew its position in NIKE by 36.2% during the 1st quarter. BROOKFIELD Corp ON now owns 658,598 shares of the footwear maker's stock worth $41,808,000 after purchasing an additional 175,000 shares during the last quarter. Institutional investors own 64.25% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on NKE shares. Telsey Advisory Group reissued a "market perform" rating and set a $70.00 target price on shares of NIKE in a research report on Friday, June 27th. HSBC raised shares of NIKE from a "hold" rating to a "buy" rating and set a $80.00 target price on the stock in a research report on Friday, June 27th. Piper Sandler boosted their target price on shares of NIKE from $70.00 to $80.00 and gave the stock an "overweight" rating in a research report on Friday, June 27th. Morgan Stanley boosted their target price on shares of NIKE from $61.00 to $64.00 and gave the stock an "equal weight" rating in a research report on Friday, June 27th. Finally, TD Cowen raised shares of 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 report on Wednesday, September 10th. Three analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and ten have given a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $79.04.

NIKE Stock Up 0.6%

NKE stock opened at $71.29 on Tuesday. The stock has a market capitalization of $105.29 billion, a P/E ratio of 33.01, a P/E/G ratio of 2.57 and a beta of 1.24. The firm has a 50-day simple moving average of $75.16 and a 200-day simple moving average of $67.38. The company has a quick ratio of 1.50, a current ratio of 2.21 and a debt-to-equity ratio of 0.60. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $90.62.

NIKE (NYSE:NKE - Get Free Report) last released its earnings results on Thursday, June 26th. The footwear maker reported $0.14 EPS for the quarter, topping analysts' consensus estimates of $0.12 by $0.02. The business had revenue of $11.10 billion during the quarter, compared to analysts' expectations of $10.69 billion. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The company's quarterly revenue was down 11.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.99 earnings per share. Equities analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

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 given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Tuesday, September 2nd. NIKE's dividend payout ratio is 74.07%.

Insider Activity at NIKE

In other news, Chairman Mark G. Parker sold 86,078 shares of the stock in a transaction dated 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 completion of the sale, the chairman directly owned 744,988 shares in the company, valued at $56,566,938.84. This represents a 10.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.80% of the stock is owned by company insiders.

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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