Benjamin Edwards Inc. Has $7.13 Million Stock Position in NIKE, Inc. (NYSE:NKE)

Key Points

• Benjamin Edwards Inc. has reduced its holdings in NIKE, Inc. by 3.2%, owning 112,309 shares valued at approximately $7.1 million after selling 3,741 shares.
• NIKE's Chairman, Mark G. Parker, sold 110,000 shares recently, reducing his stake by 11.55%, and now owns approximately 842,361 shares valued at about $60.9 million.
• The company has announced a quarterly dividend of $0.40 per share, with an annualized payout of $1.60 and a yield of 2.2%.

Benjamin Edwards Inc. trimmed its holdings in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 3.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 112,309 shares of the footwear maker's stock after selling 3,741 shares during the period. Benjamin Edwards Inc.'s holdings in NIKE were worth $7,129,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Heck Capital Advisors LLC acquired a new stake in shares of NIKE during the fourth quarter worth $28,000. Roxbury Financial LLC raised its holdings in shares of NIKE by 52.1% during the first quarter. Roxbury Financial LLC now owns 587 shares of the footwear maker's stock worth $37,000 after purchasing an additional 201 shares during the period. N.E.W. Advisory Services LLC acquired a new stake in shares of NIKE during the first quarter worth $37,000. Putney Financial Group LLC acquired a new stake in shares of NIKE during the fourth quarter worth $40,000. Finally, Minot DeBlois Advisors LLC acquired a new stake in shares of NIKE in the 4th quarter worth about $42,000. 64.25% of the stock is owned by institutional investors and hedge funds.

NIKE Stock Up 1.2%

Shares of NYSE NKE traded up $0.89 during mid-day trading on Tuesday, reaching $74.91. The company had a trading volume of 6,397,175 shares, compared to its average volume of 10,926,941. The stock has a fifty day moving average of $70.20 and a two-hundred day moving average of $67.60. 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 company has a market capitalization of $110.63 billion, a price-to-earnings ratio of 34.68, a PEG ratio of 2.69 and a beta of 1.27. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $90.62.

NIKE (NYSE:NKE - Get Free Report) last posted its quarterly earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.12 by $0.02. The business had revenue of $11.10 billion during the quarter, compared to analyst estimates of $10.69 billion. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The firm's revenue was down 11.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.99 earnings per share. As a group, equities research analysts expect 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 paid a $0.40 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.1%. NIKE's payout ratio is 74.07%.

Analyst Ratings Changes

NKE has been the topic of a number of analyst reports. Hsbc Global Res raised shares of NIKE from a "hold" rating to a "strong-buy" rating in a report on Friday, June 27th. HSBC upgraded shares of NIKE from a "hold" rating to a "buy" rating and set a $80.00 target price for the company in a research report on Friday, June 27th. DZ Bank lowered shares of NIKE from a "buy" rating to a "hold" rating and set a $76.00 target price for the company. in a research report on Thursday, July 10th. Piper Sandler increased their target price on shares of NIKE from $70.00 to $80.00 and gave the company an "overweight" rating in a research report on Friday, June 27th. Finally, Barclays increased their target price on shares of NIKE from $53.00 to $64.00 and gave the company an "equal weight" rating in a research report on Friday, June 27th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have given a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat.com, NIKE has an average rating of "Moderate Buy" and a consensus price target of $78.22.

Insider Transactions at NIKE

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $72.29, for a total value of $7,951,900.00. Following the completion of the sale, the chairman directly owned 842,361 shares in the company, valued at $60,894,276.69. The trade was a 11.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.80% of the stock is owned by company insiders.

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.