Raymond James Financial Inc. Sells 135,853 Shares of NIKE, Inc. $NKE

Key Points

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Raymond James Financial Inc. lowered its stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 6.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 1,931,521 shares of the footwear maker's stock after selling 135,853 shares during the quarter. Raymond James Financial Inc. owned 0.13% of NIKE worth $122,613,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of NKE. AlTi Global Inc. grew its position in NIKE by 0.4% in the 4th quarter. AlTi Global Inc. now owns 36,996 shares of the footwear maker's stock valued at $2,813,000 after acquiring an additional 150 shares during the last quarter. Peregrine Asset Advisers Inc. lifted its holdings in NIKE by 1.2% during the 1st quarter. Peregrine Asset Advisers Inc. now owns 15,119 shares of the footwear maker's stock valued at $934,000 after buying an additional 181 shares in the last quarter. Aaron Wealth Advisors LLC lifted its holdings in NIKE by 4.3% during the 1st quarter. Aaron Wealth Advisors LLC now owns 4,666 shares of the footwear maker's stock valued at $296,000 after buying an additional 192 shares in the last quarter. Crew Capital Management Ltd. lifted its holdings in NIKE by 1.4% during the 1st quarter. Crew Capital Management Ltd. now owns 13,752 shares of the footwear maker's stock valued at $873,000 after buying an additional 192 shares in the last quarter. Finally, Sculati Wealth Management LLC lifted its holdings in NIKE by 1.4% during the 4th quarter. Sculati Wealth Management LLC now owns 14,387 shares of the footwear maker's stock valued at $1,089,000 after buying an additional 195 shares in the last quarter. Institutional investors own 64.25% of the company's stock.

Insider Transactions at NIKE

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the business'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 value of $7,951,900.00. Following the completion of the transaction, the chairman directly owned 842,361 shares of the company's stock, valued at approximately $60,894,276.69. The trade was a 11.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.80% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on NKE shares. HSBC upgraded shares of NIKE from a "hold" rating to a "buy" rating and set a $80.00 price objective for the company in a report on Friday, June 27th. Citigroup lifted their price objective on shares of NIKE from $57.00 to $68.00 and gave the company a "neutral" rating in a report on Friday, June 27th. Truist Financial dropped their price target on NIKE from $82.00 to $73.00 and set a "buy" rating on the stock in a research report on Tuesday, June 24th. Needham & Company LLC increased their price target on NIKE from $66.00 to $78.00 and gave the stock a "buy" rating in a research report on Friday, June 27th. Finally, The Goldman Sachs Group increased their price target on NIKE from $72.00 to $81.00 and gave the stock a "buy" rating in a research report on Friday, June 27th. One 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. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $78.22.

NIKE Price Performance

Shares of NYSE NKE opened at $77.43 on Tuesday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.50 and a current ratio of 2.21. NIKE, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $90.62. The company has a market cap of $114.36 billion, a PE ratio of 35.85, a P/E/G ratio of 2.80 and a beta of 1.27. The business has a 50-day simple moving average of $71.36 and a two-hundred day simple moving average of $67.56.

NIKE (NYSE:NKE - Get Free Report) last released its earnings results on Thursday, June 26th. The footwear maker reported $0.14 EPS for the quarter, topping analysts' consensus estimates of $0.12 by $0.02. NIKE had a return on equity of 23.33% and a net margin of 6.95%. The firm 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 company posted $0.99 earnings per share. The company's revenue was down 11.9% compared to the same quarter last year. As a group, equities analysts expect that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be issued a $0.40 dividend. The ex-dividend date of this dividend 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 presently 74.07%.

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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