NIKE, Inc. $NKE Shares Sold by JFS Wealth Advisors LLC

Key Points

• JFS Wealth Advisors LLC reduced its stake in NIKE, Inc. by 33.3%, selling 3,976 shares and holding a total of 7,977 shares valued at $567,000.
• Institutional investors currently hold 64.25% of NIKE's stock, with several firms, including Vanguard and Goldman Sachs, significantly increasing their positions during the first quarter.
• NIKE announced a quarterly dividend of $0.40 per share with a 2.5% dividend yield, and the company reported earnings that exceeded analysts' expectations, with $0.49 EPS against a consensus estimate of $0.27.

JFS Wealth Advisors LLC lowered its stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 33.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,977 shares of the footwear maker's stock after selling 3,976 shares during the quarter. JFS Wealth Advisors LLC's holdings in NIKE were worth $567,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted 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 period. Wellington Management Group LLP boosted its position in NIKE by 24.9% during the 1st quarter. Wellington Management Group LLP now owns 45,383,916 shares of the footwear maker's stock valued at $2,880,971,000 after purchasing an additional 9,043,180 shares during the period. Goldman Sachs Group Inc. boosted 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 worth $1,694,842,000 after acquiring an additional 20,688,013 shares during the period. Bank of New York Mellon Corp boosted its position in NIKE by 3.0% during the 1st quarter. Bank of New York Mellon Corp now owns 20,988,207 shares of the footwear maker's stock worth $1,332,331,000 after acquiring an additional 620,214 shares during the period. Finally, Flossbach Von Storch SE boosted 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 worth $652,995,000 after acquiring an additional 1,988,547 shares during the period. Institutional investors and hedge funds own 64.25% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on NKE shares. Needham & Company LLC reiterated a "buy" rating and set a $78.00 price target on shares of NIKE in a research report on Wednesday, October 1st. Weiss Ratings upgraded NIKE from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Wednesday. Jefferies Financial Group reiterated a "buy" rating and set a $115.00 price target on shares of NIKE in a research report on Monday, September 29th. Piper Sandler set a $84.00 price target on NIKE and gave the stock an "overweight" rating in a research report on Wednesday, October 1st. Finally, Hsbc Global Res upgraded NIKE from a "hold" rating to a "strong-buy" rating in a research report on Friday, June 27th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, NIKE presently has a consensus rating of "Moderate Buy" and an average price target of $81.57.

NIKE Stock Down 4.1%

NKE opened at $65.25 on Friday. NIKE, Inc. has a one year low of $52.28 and a one year high of $84.76. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.45 and a current ratio of 2.19. The stock's fifty day moving average is $73.80 and its 200-day moving average is $67.29. The company has a market capitalization of $96.45 billion, a PE ratio of 33.46, a P/E/G ratio of 2.38 and a beta of 1.29.

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

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.5%. NIKE's payout ratio is 82.05%.

Insiders Place Their Bets

In other news, Chairman Mark G. Parker sold 86,078 shares of the business's stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $75.93, for a total transaction of $6,535,902.54. Following the sale, the chairman directly owned 744,988 shares of the company's stock, valued at $56,566,938.84. The trade was a 10.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Treasure Heinle sold 4,300 shares of the business's stock in a transaction on Monday, October 6th. The stock was sold at an average price of $71.27, for a total value of $306,461.00. Following the sale, the executive vice president directly owned 29,396 shares in the company, valued at $2,095,052.92. This trade represents a 12.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 200,378 shares of company stock worth $14,794,264 over the last ninety days. 0.80% of the stock is owned by 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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