Prime Capital Investment Advisors LLC Reduces Position in NIKE, Inc. $NKE

Prime Capital Investment Advisors LLC cut its holdings in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 18.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 24,343 shares of the footwear maker's stock after selling 5,660 shares during the period. Prime Capital Investment Advisors LLC's holdings in NIKE were worth $1,729,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mascoma Wealth Management LLC acquired a new position in NIKE during the second quarter valued at $26,000. Stone House Investment Management LLC acquired a new position in NIKE during the first quarter valued at $25,000. Halbert Hargrove Global Advisors LLC lifted its position in NIKE by 952.6% during the second quarter. Halbert Hargrove Global Advisors LLC now owns 400 shares of the footwear maker's stock valued at $28,000 after purchasing an additional 362 shares during the period. Matrix Trust Co lifted its position in NIKE by 53.1% during the second quarter. Matrix Trust Co now owns 441 shares of the footwear maker's stock valued at $31,000 after purchasing an additional 153 shares during the period. Finally, Saudi Central Bank acquired a new position in NIKE during the first quarter valued at $30,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Stock Performance

NIKE stock opened at $69.10 on Thursday. The firm has a 50 day simple moving average of $74.12 and a 200-day simple moving average of $67.29. NIKE, Inc. has a 1-year low of $52.28 and a 1-year high of $84.76. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.19 and a quick ratio of 1.45. The stock has a market cap of $102.05 billion, a price-to-earnings ratio of 35.44, a price-to-earnings-growth ratio of 2.52 and a beta of 1.29.

NIKE (NYSE:NKE - Get Free Report) last posted its quarterly earnings results on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share for the quarter, beating 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 during the quarter, compared to analysts' expectations of $10.96 billion. During the same quarter in the prior year, the company posted $0.70 EPS. The business's revenue for the quarter was up 1.0% on a year-over-year basis. On average, analysts expect that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.3%. The ex-dividend date was Tuesday, September 2nd. NIKE's dividend payout ratio is currently 82.05%.

Insider Activity at NIKE

In other news, EVP Treasure Heinle sold 4,300 shares of the company's stock in a transaction that occurred on Monday, October 6th. The shares were sold at an average price of $71.27, for a total value of $306,461.00. Following the transaction, the executive vice president directly owned 29,396 shares in the company, valued at approximately $2,095,052.92. This represents a 12.76% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Mark G. Parker sold 110,000 shares of the company's stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $72.29, for a total transaction of $7,951,900.00. Following the completion of the transaction, the chairman owned 842,361 shares in the company, valued at approximately $60,894,276.69. This represents a 11.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 200,378 shares of company stock worth $14,794,264. Company insiders own 0.80% of the company's stock.

Analysts Set New Price Targets

NKE has been the subject of a number of analyst reports. Jefferies Financial Group reiterated a "buy" rating and issued a $115.00 price objective on shares of NIKE in a research report on Monday, September 29th. Citigroup upgraded shares of NIKE from a "neutral" rating to a "positive" rating in a research report on Friday, September 19th. Weiss Ratings upgraded shares of NIKE from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Wednesday. Hsbc Global Res upgraded shares of NIKE from a "hold" rating to a "strong-buy" rating in a research report on Friday, June 27th. Finally, Piper Sandler set a $84.00 price objective on shares of NIKE and gave the stock an "overweight" rating in a research report on Wednesday, October 1st. Three investment analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $81.57.

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.

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