Harbour Trust & Investment Management Co Trims Holdings in NIKE, Inc. (NYSE:NKE)

Harbour Trust & Investment Management Co cut its stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 13.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 25,649 shares of the footwear maker's stock after selling 4,072 shares during the period. Harbour Trust & Investment Management Co's holdings in NIKE were worth $1,628,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in NKE. Heck Capital Advisors LLC acquired a new position in shares of NIKE in the fourth quarter valued at approximately $28,000. LFA Lugano Financial Advisors SA grew its holdings in shares of NIKE by 110.5% in the fourth quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker's stock valued at $30,000 after purchasing an additional 210 shares in the last quarter. Hopwood Financial Services Inc. acquired a new position in shares of NIKE in the fourth quarter valued at approximately $30,000. EnRich Financial Partners LLC grew its holdings in shares of NIKE by 196.4% in the fourth quarter. EnRich Financial Partners LLC now owns 412 shares of the footwear maker's stock valued at $31,000 after purchasing an additional 273 shares in the last quarter. Finally, Roxbury Financial LLC grew its holdings in shares of NIKE by 52.1% in the first quarter. Roxbury Financial LLC now owns 587 shares of the footwear maker's stock valued at $37,000 after purchasing an additional 201 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other NIKE news, Director Robert Holmes Swan purchased 8,600 shares of NIKE stock in a transaction that occurred on Friday, April 4th. The stock was purchased at an average price of $58.46 per share, for a total transaction of $502,756.00. Following the transaction, the director directly owned 31,983 shares in the company, valued at $1,869,726.18. This trade represents a 36.78% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on NKE. Piper Sandler lifted 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. Wells Fargo & Company lifted their price objective on shares of NIKE from $55.00 to $60.00 and gave the company an "equal weight" rating in a report on Wednesday, May 14th. Truist Financial dropped their price objective on shares of NIKE from $82.00 to $73.00 and set a "buy" rating for the company in a report on Tuesday, June 24th. Bank of America boosted their price target on shares of NIKE from $80.00 to $84.00 and gave the stock a "buy" rating in a report on Friday, June 27th. Finally, Evercore ISI lowered their price target on shares of NIKE from $97.00 to $75.00 and set an "outperform" rating for the company in a report on Tuesday, June 24th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, fifteen have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, NIKE currently has a consensus rating of "Moderate Buy" and an average price target of $77.19.

NIKE Stock Down 0.1%

Shares of NYSE:NKE traded down $0.11 during trading on Thursday, hitting $76.28. 12,022,568 shares of the company were exchanged, compared to its average volume of 15,372,369. The stock has a market capitalization of $112.83 billion, a P/E ratio of 35.31, a PEG ratio of 2.76 and a beta of 1.25. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.21 and a quick ratio of 1.50. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $90.62. The firm's 50 day moving average price is $61.99 and its 200-day moving average price is $67.50.

NIKE (NYSE:NKE - Get Free Report) last issued its quarterly earnings data on Thursday, June 26th. The footwear maker reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.02. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The business had revenue of $11.10 billion during the quarter, compared to the consensus estimate of $10.69 billion. During the same quarter in the previous year, the firm earned $0.99 EPS. The company's revenue was down 11.9% compared to the same quarter last year. On average, research analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Monday, June 2nd were given a $0.40 dividend. The ex-dividend date was Monday, June 2nd. This represents a $1.60 annualized dividend and a yield of 2.10%. NIKE's dividend payout ratio (DPR) is 53.16%.

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.