NIKE, Inc. $NKE Holdings Trimmed by Farther Finance Advisors LLC

Key Points

• Farther Finance Advisors LLC has reduced its stake in NIKE, Inc. by 38.2%, holding 25,959 shares valued at $1.84 million after selling 16,055 shares in the 2nd quarter.
• Analysts have set new price targets for NIKE shares, with ratings ranging from "buy" to "outperform," and an average target price of $79.04.
• NIKE recently announced a quarterly dividend of $0.40, equating to an annual yield of 2.2%, reflecting a dividend payout ratio of 74.07%.

Farther Finance Advisors LLC lowered its position in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 38.2% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,959 shares of the footwear maker's stock after selling 16,055 shares during the quarter. Farther Finance Advisors LLC's holdings in NIKE were worth $1,844,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Silver Oak Securities Incorporated boosted its position in shares of NIKE by 26.8% in the 2nd quarter. Silver Oak Securities Incorporated now owns 3,920 shares of the footwear maker's stock valued at $278,000 after purchasing an additional 829 shares during the period. Caldwell Sutter Capital Inc. boosted its position in shares of NIKE by 6.3% in the 2nd quarter. Caldwell Sutter Capital Inc. now owns 2,390 shares of the footwear maker's stock valued at $170,000 after purchasing an additional 142 shares during the period. SeaCrest Wealth Management LLC acquired a new position in shares of NIKE in the 2nd quarter valued at $204,000. Kingstone Capital Partners Texas LLC acquired a new position in shares of NIKE in the 2nd quarter valued at $96,106,000. Finally, IFM Investors Pty Ltd boosted its position in shares of NIKE by 3.4% in the 2nd quarter. IFM Investors Pty Ltd now owns 224,314 shares of the footwear maker's stock valued at $15,935,000 after purchasing an additional 7,315 shares during the period. Institutional investors and hedge funds own 64.25% of the company's stock.

Analysts Set New Price Targets

NKE has been the subject of a number of recent analyst reports. Truist Financial decreased their price target on NIKE from $82.00 to $73.00 and set a "buy" rating for the company in a research report on Tuesday, June 24th. Deutsche Bank Aktiengesellschaft decreased their price target on NIKE from $77.00 to $71.00 and set a "buy" rating for the company in a research report on Friday, June 20th. UBS Group set a $71.00 price objective on NIKE and gave the stock a "neutral" rating in a research note on Friday. Needham & Company LLC increased their price objective on NIKE from $66.00 to $78.00 and gave the stock a "buy" rating in a research note on Friday, June 27th. Finally, Royal Bank Of Canada raised NIKE from a "sector perform" rating to an "outperform" rating and increased their price objective for the stock from $76.00 to $90.00 in a research note on Thursday, September 18th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $79.04.

NIKE Stock Up 0.6%

Shares of NKE stock opened at $71.29 on Tuesday. The stock's 50 day simple moving average is $75.16 and its 200 day simple moving average is $67.38. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.50 and a current ratio of 2.21. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $90.62. The company has a market capitalization of $105.29 billion, a price-to-earnings ratio of 33.01, a PEG ratio of 2.57 and a beta of 1.24.

NIKE (NYSE:NKE - Get Free Report) last issued its quarterly earnings data on Thursday, June 26th. The footwear maker reported $0.14 earnings per share for the quarter, beating analysts' consensus estimates of $0.12 by $0.02. The business had revenue of $11.10 billion for the quarter, compared to the consensus estimate of $10.69 billion. NIKE had a return on equity of 23.33% and a net margin of 6.95%.The firm's revenue was down 11.9% compared to the same quarter last year. During the same period last year, the business earned $0.99 EPS. As a group, research analysts predict that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be issued a $0.40 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.2%. NIKE's dividend payout ratio (DPR) is 74.07%.

Insider Transactions at NIKE

In other NIKE news, Chairman Mark G. Parker sold 86,078 shares of the firm's stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $75.93, for a total value of $6,535,902.54. Following the sale, the chairman owned 744,988 shares of the company's stock, valued at $56,566,938.84. This trade represents a 10.36% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through 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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