Smithbridge Asset Management Inc. DE Has $403,000 Holdings in NIKE, Inc. $NKE

Key Points

• Smithbridge Asset Management Inc. DE significantly reduced its holdings in NIKE, Inc. by 86.7%, owning 5,671 shares worth $403,000 after selling 36,945 shares in the second quarter.
• NIKE reported a quarterly revenue of $11.72 billion, exceeding analyst expectations, and posted earnings per share of $0.49, beating the consensus estimate by $0.22.
• The company recently declared a quarterly dividend of $0.40 per share, reflecting an annualized dividend yield of 2.4% and a dividend payout ratio of 82.05%.

Smithbridge Asset Management Inc. DE cut its holdings in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 86.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,671 shares of the footwear maker's stock after selling 36,945 shares during the quarter. Smithbridge Asset Management Inc. DE's holdings in NIKE were worth $403,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Mitchell Mcleod Pugh & Williams Inc. lifted its stake in NIKE by 1.0% in the 2nd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 14,176 shares of the footwear maker's stock worth $1,007,000 after purchasing an additional 134 shares in the last quarter. Caldwell Sutter Capital Inc. lifted its stake in NIKE by 6.3% in the 2nd quarter. Caldwell Sutter Capital Inc. now owns 2,390 shares of the footwear maker's stock worth $170,000 after purchasing an additional 142 shares in the last quarter. Westmount Partners LLC lifted its stake in NIKE by 2.9% in the 2nd quarter. Westmount Partners LLC now owns 5,165 shares of the footwear maker's stock worth $367,000 after purchasing an additional 146 shares in the last quarter. HB Wealth Management LLC lifted its stake in NIKE by 0.3% in the 2nd quarter. HB Wealth Management LLC now owns 52,012 shares of the footwear maker's stock worth $3,695,000 after purchasing an additional 147 shares in the last quarter. Finally, Matrix Trust Co increased its holdings in shares of NIKE by 53.1% in the 2nd quarter. Matrix Trust Co now owns 441 shares of the footwear maker's stock worth $31,000 after buying an additional 153 shares during the last quarter. 64.25% of the stock is owned by institutional investors.

NIKE Stock Performance

NIKE stock opened at $66.82 on Friday. The stock's 50 day simple moving average is $73.23 and its two-hundred day simple moving average is $67.36. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.45 and a current ratio of 2.19. The stock has a market cap of $98.77 billion, a price-to-earnings ratio of 34.27, a PEG ratio of 2.52 and a beta of 1.29. NIKE, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $84.76.

NIKE (NYSE:NKE - Get Free Report) last posted its quarterly earnings data 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 return on equity of 21.16% and a net margin of 6.23%.The business had revenue of $11.72 billion for the quarter, compared to analysts' expectations of $10.96 billion. During the same period in the previous year, the firm posted $0.70 EPS. The business's revenue was up 1.0% on a year-over-year basis. As a group, analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend was Tuesday, September 2nd. NIKE's dividend payout ratio (DPR) is 82.05%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Robert W. Baird increased their price target on shares of NIKE from $80.00 to $88.00 and gave the stock an "outperform" rating in a report on Friday, June 27th. Piper Sandler set a $84.00 price target on shares of NIKE and gave the stock an "overweight" rating in a report on Wednesday, October 1st. Argus raised shares of NIKE to a "buy" rating in a report on Sunday, July 6th. Telsey Advisory Group reaffirmed a "market perform" rating and set a $75.00 target price on shares of NIKE in a report on Wednesday, October 1st. Finally, JPMorgan Chase & Co. increased their target price on shares of NIKE from $93.00 to $100.00 and gave the company an "overweight" rating in a report on Wednesday, October 1st. Three analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $82.21.

Insider Transactions at NIKE

In other NIKE news, EVP Treasure Heinle sold 4,300 shares of NIKE stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $71.27, for a total value of $306,461.00. Following the completion of the transaction, the executive vice president directly owned 29,396 shares of the company's stock, valued at approximately $2,095,052.92. The trade was a 12.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Mark G. Parker sold 86,078 shares of NIKE stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $75.93, for a total transaction of $6,535,902.54. Following the completion of the transaction, the chairman directly owned 744,988 shares of the company's stock, valued at $56,566,938.84. This trade represents a 10.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.80% of the company's stock.

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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