Neville Rodie & Shaw Inc. Cuts Stock Holdings in NIKE, Inc. $NKE

Key Points

• Neville Rodie & Shaw Inc. reduced its stake in NIKE, Inc. by 34.7% during the second quarter, selling 5,715 shares, leaving them with 10,746 shares valued at $763,000.
• Institutional investors and hedge funds own 64.25% of NIKE's stock, with notable increases in holdings from firms like Vanguard Group Inc. and Goldman Sachs Group Inc. in the first quarter.
• NIKE's recent quarterly earnings exceeded expectations, reporting a $11.10 billion revenue, significantly above analysts' forecasts of $10.69 billion, despite a 11.9% year-over-year decline.

Neville Rodie & Shaw Inc. trimmed its position in NIKE, Inc. (NYSE:NKE - Free Report) by 34.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,746 shares of the footwear maker's stock after selling 5,715 shares during the period. Neville Rodie & Shaw Inc.'s holdings in NIKE were worth $763,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Spire Wealth Management boosted its holdings in NIKE by 4.4% in the first quarter. Spire Wealth Management now owns 9,872 shares of the footwear maker's stock valued at $627,000 after purchasing an additional 416 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich boosted its holdings in NIKE by 0.6% in the first quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,008,340 shares of the footwear maker's stock valued at $69,932,000 after purchasing an additional 5,601 shares during the last quarter. Mackenzie Financial Corp boosted its holdings in NIKE by 75.1% in the fourth quarter. Mackenzie Financial Corp now owns 539,650 shares of the footwear maker's stock valued at $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 in the first quarter valued at $25,963,000. Finally, Olstein Capital Management L.P. boosted its holdings in NIKE by 42.2% in the first quarter. Olstein Capital Management L.P. now owns 91,000 shares of the footwear maker's stock valued at $5,777,000 after purchasing an additional 27,000 shares during the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at NIKE

In other news, Chairman Mark G. Parker sold 86,078 shares of the company'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 owned 744,988 shares of the company's stock, valued at approximately $56,566,938.84. This represents a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.80% of the company's stock.

NIKE Trading Down 0.4%

Shares of NYSE NKE traded down $0.31 during midday trading on Tuesday, reaching $72.72. 8,804,679 shares of the stock were exchanged, compared to its average volume of 9,952,769. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.50 and a current ratio of 2.21. The stock has a market capitalization of $107.40 billion, a P/E ratio of 33.67, a PEG ratio of 2.65 and a beta of 1.24. The company has a 50 day simple moving average of $75.30 and a 200 day simple moving average of $67.63. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $90.62.

NIKE (NYSE:NKE - Get Free Report) last posted its quarterly earnings data on Thursday, June 26th. The footwear maker reported $0.14 earnings per share for the quarter, topping analysts' consensus estimates of $0.12 by $0.02. The firm 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 firm's quarterly revenue was down 11.9% on a year-over-year basis. During the same quarter last year, the company posted $0.99 EPS. As a group, equities analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on NKE shares. Evercore ISI lowered their price target on shares of NIKE from $97.00 to $75.00 and set an "outperform" rating on the stock in a report on Tuesday, June 24th. Argus upgraded shares of NIKE to a "buy" rating in a research report on Sunday, July 6th. Citigroup increased their price objective on shares of NIKE from $68.00 to $74.00 and gave the company a "neutral" rating in a report on Tuesday. DZ Bank downgraded shares of NIKE from a "buy" rating to a "hold" rating and set a $76.00 price objective for the company. in a report on Thursday, July 10th. Finally, Piper Sandler increased their price objective on shares of NIKE from $70.00 to $80.00 and gave the company an "overweight" rating in a report on Friday, June 27th. Three research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat.com, NIKE currently has an average rating of "Moderate Buy" and a consensus target price of $78.89.

NIKE 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.