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

Three Bridge Wealth Advisors LLC lowered its holdings in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 74.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,099 shares of the footwear maker's stock after selling 8,877 shares during the period. Three Bridge Wealth Advisors LLC's holdings in NIKE were worth $225,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of NKE. Vanguard Group Inc. increased its holdings in shares of NIKE by 4.6% in 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 in the last quarter. Wellington Management Group LLP increased its holdings 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 acquiring an additional 9,043,180 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings 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 acquiring an additional 20,688,013 shares in the last quarter. Bank of New York Mellon Corp increased its holdings 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 valued at $1,332,331,000 after acquiring an additional 620,214 shares in the last quarter. Finally, Flossbach Von Storch SE increased its holdings 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 acquiring an additional 1,988,547 shares in the last quarter. Institutional investors and hedge funds own 64.25% of the company's stock.

NIKE Stock Performance

Shares of NYSE NKE opened at $72.01 on Monday. The company has a 50-day simple moving average of $74.62 and a 200-day simple moving average of $67.24. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.19 and a quick ratio of 1.45. NIKE, Inc. has a 12 month low of $52.28 and a 12 month high of $84.76. The company has a market cap of $106.34 billion, a PE ratio of 36.93, a price-to-earnings-growth ratio of 2.64 and a beta of 1.29.

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

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd were given a $0.40 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.2%. NIKE's dividend payout ratio (DPR) is currently 82.05%.

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 shares were sold at an average price of $75.93, for a total value of $6,535,902.54. Following the sale, the chairman directly 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.80% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Argus upgraded shares of NIKE to a "buy" rating in a report on Sunday, July 6th. Piper Sandler set a $84.00 target price on shares of NIKE and gave the company an "overweight" rating in a report on Wednesday. Citigroup upgraded shares of NIKE from a "neutral" rating to a "positive" rating in a report on Friday, September 19th. Needham & Company LLC restated a "buy" rating and set a $78.00 target price on shares of NIKE in a report on Wednesday, October 1st. Finally, Wall Street Zen upgraded shares of NIKE from a "sell" rating to a "hold" rating in a report on Saturday, September 6th. Three research analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $81.57.

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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