NIKE, Inc. $NKE Shares Sold by HS Management Partners LLC

Key Points

• HS Management Partners LLC reduced its stake in NIKE by 21.2%, selling 162,600 shares and retaining a total of 603,125 shares, which represents 3.5% of its portfolio.
• Analysts have adjusted NIKE's price targets, with Morgan Stanley raising it from $64.00 to $70.00 and other firms adjusting it downwards; overall, the stock has a "Moderate Buy" rating and an average price target of $79.62.
• NIKE's quarterly revenue was $11.10 billion, surpassing analyst expectations, although it showed an 11.9% decline compared to the same quarter last year.

HS Management Partners LLC cut its position in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 21.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 603,125 shares of the footwear maker's stock after selling 162,600 shares during the quarter. NIKE comprises 3.5% of HS Management Partners LLC's portfolio, making the stock its 16th biggest position. HS Management Partners LLC's holdings in NIKE were worth $42,846,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Stone House Investment Management LLC acquired a new stake in NIKE during the first quarter worth about $25,000. Matrix Trust Co increased its stake in NIKE by 53.1% during the second quarter. Matrix Trust Co now owns 441 shares of the footwear maker's stock worth $31,000 after acquiring an additional 153 shares during the last quarter. Saudi Central Bank acquired a new stake in NIKE during the first quarter worth about $30,000. Opal Wealth Advisors LLC acquired a new stake in NIKE during the second quarter worth about $35,000. Finally, N.E.W. Advisory Services LLC acquired a new stake in shares of NIKE in the first quarter valued at about $37,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Morgan Stanley increased their target price on NIKE from $64.00 to $70.00 and gave the company an "equal weight" rating in a research note on Tuesday. Truist Financial reduced their price target on NIKE from $82.00 to $73.00 and set a "buy" rating for the company in a report on Tuesday, June 24th. Evercore ISI reduced their price target on NIKE from $97.00 to $75.00 and set an "outperform" rating for the company in a report on Tuesday, June 24th. Barclays increased their price target on NIKE from $64.00 to $65.00 and gave the company an "equal weight" rating in a report on Thursday, September 18th. Finally, Argus raised NIKE to a "buy" rating in a report on Sunday, July 6th. Three investment analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and ten have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $79.62.

Insider Activity

In related 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 approximately $56,566,938.84. This trade represents a 10.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.80% of the company's stock.

NIKE Trading Up 0.1%

NYSE:NKE opened at $69.31 on Friday. The company has a quick ratio of 1.50, a current ratio of 2.21 and a debt-to-equity ratio of 0.60. The business's 50 day moving average is $74.99 and its two-hundred day moving average is $67.34. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $90.26. The company has a market cap of $102.36 billion, a PE ratio of 32.09, a P/E/G ratio of 2.51 and a beta of 1.24.

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. 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 the consensus estimate of $10.69 billion. During the same quarter last year, the business posted $0.99 EPS. NIKE's quarterly revenue was down 11.9% compared to the same quarter last year. On average, analysts predict that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors 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 annualized dividend and a dividend yield of 2.3%. NIKE's dividend payout ratio (DPR) is 74.07%.

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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