NBW Capital LLC Sells 7,564 Shares of NIKE, Inc. (NYSE:NKE)

Key Points

• NBW Capital LLC reduced its position in NIKE, Inc. by 19.3%, owning a total of 31,528 shares valued at approximately $2 million as of the latest SEC filing.
• Insider trading activity included Chairman Mark G. Parker selling 110,000 shares valued at nearly $8 million, representing an 11.55% decrease in his holdings.
• NIKE reported earnings of $0.14 per share for the last quarter, exceeding analysts' expectations and showing a revenue of $11.1 billion, although down 11.9% year-over-year.

NBW Capital LLC decreased its holdings in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 19.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,528 shares of the footwear maker's stock after selling 7,564 shares during the period. NBW Capital LLC's holdings in NIKE were worth $2,001,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of NKE. Goldman Sachs Group Inc. raised its position in NIKE by 344.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 26,698,835 shares of the footwear maker's stock valued at $1,694,842,000 after purchasing an additional 20,688,013 shares during the last quarter. Jennison Associates LLC bought a new position in NIKE during the 1st quarter valued at approximately $509,051,000. Vanguard Group Inc. raised its position in NIKE by 4.6% during the 1st quarter. Vanguard Group Inc. now owns 113,151,080 shares of the footwear maker's stock valued at $7,182,831,000 after purchasing an additional 4,957,494 shares during the last quarter. Capital World Investors raised its position in NIKE by 10.3% during the 4th quarter. Capital World Investors now owns 24,545,937 shares of the footwear maker's stock valued at $1,857,389,000 after purchasing an additional 2,288,627 shares during the last quarter. Finally, Flossbach Von Storch SE raised its position in NIKE by 24.0% during the 1st quarter. Flossbach Von Storch SE now owns 10,286,619 shares of the footwear maker's stock valued at $652,995,000 after purchasing an additional 1,988,547 shares during the last quarter. Institutional investors own 64.25% of the company's stock.

NIKE Trading Down 0.2%

Shares of NIKE stock traded down $0.18 during trading hours on Friday, hitting $74.17. The company's stock had a trading volume of 6,733,814 shares, compared to its average volume of 11,448,546. The business has a fifty day moving average of $69.70 and a 200 day moving average of $67.60. The company has a market capitalization of $109.54 billion, a PE ratio of 34.34, a P/E/G ratio of 2.70 and a beta of 1.27. NIKE, Inc. has a 1-year low of $52.28 and a 1-year high of $90.62. 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 (NYSE:NKE - Get Free Report) last posted its quarterly earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.12 by $0.02. The company had revenue of $11.10 billion for the quarter, compared to the consensus estimate of $10.69 billion. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The company's revenue for the quarter was down 11.9% on a year-over-year basis. During the same period last year, the firm posted $0.99 EPS. As a group, equities analysts forecast that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

The company 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 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Tuesday, September 2nd. NIKE's dividend payout ratio (DPR) is 74.07%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Williams Trading decreased their target price on NIKE from $93.00 to $73.00 and set a "buy" rating for the company in a research report on Monday, April 21st. Piper Sandler boosted their target price on shares of NIKE from $70.00 to $80.00 and gave the company an "overweight" rating in a report on Friday, June 27th. Truist Financial decreased their price target on shares of NIKE from $82.00 to $73.00 and set a "buy" rating for the company in a research note on Tuesday, June 24th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of NIKE from $77.00 to $71.00 and set a "buy" rating on the stock in a research note on Friday, June 20th. Finally, UBS Group assumed coverage on shares of NIKE in a research note on Sunday, July 6th. They set a "buy" rating for the company. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, seventeen have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $78.22.

Insider Buying and Selling at NIKE

In related news, Chairman Mark G. Parker sold 110,000 shares of the firm's stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $72.29, for a total transaction of $7,951,900.00. Following the completion of the sale, the chairman directly owned 842,361 shares in the company, valued at approximately $60,894,276.69. This trade represents a 11.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.80% of the stock is currently owned by company insiders.

About NIKE

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.