NIKE, Inc. $NKE Shares Sold by Stokes Capital Advisors LLC

Key Points

• Stokes Capital Advisors LLC significantly reduced its stake in NIKE, Inc. by 69.4%, selling 22,360 shares and holding 9,854 shares valued at $700,000.
• Chairman Mark G. Parker sold 110,000 shares for approximately $7.95 million, which represents an 11.55% decrease in his position.
• NIKE's recent quarterly earnings report revealed an EPS of $0.14, beating expectations, while its revenue of $11.10 billion showed an 11.9% decrease compared to the same quarter last year.

Stokes Capital Advisors LLC trimmed its position in NIKE, Inc. (NYSE:NKE - Free Report) by 69.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,854 shares of the footwear maker's stock after selling 22,360 shares during the quarter. Stokes Capital Advisors LLC's holdings in NIKE were worth $700,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Brighton Jones LLC raised its holdings in shares of NIKE by 388.5% in the fourth quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker's stock valued at $15,316,000 after buying an additional 160,980 shares during the last quarter. Bank Pictet & Cie Europe AG boosted its holdings in shares of NIKE by 10.3% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 190,915 shares of the footwear maker's stock valued at $14,447,000 after buying an additional 17,888 shares during the last quarter. Westwood Holdings Group Inc. bought a new stake in NIKE in the 4th quarter valued at $328,000. Vident Advisory LLC raised its stake in NIKE by 13.8% in the 4th quarter. Vident Advisory LLC now owns 53,572 shares of the footwear maker's stock valued at $4,054,000 after acquiring an additional 6,477 shares during the period. Finally, Waverly Advisors LLC increased its position in NIKE by 53.3% during the 4th quarter. Waverly Advisors LLC now owns 19,591 shares of the footwear maker's stock worth $1,482,000 after buying an additional 6,810 shares during the period. Institutional investors own 64.25% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on NKE. HSBC raised NIKE from a "hold" rating to a "buy" rating and set a $80.00 price target on the stock in a research note on Friday, June 27th. Jefferies Financial Group restated a "buy" rating and issued a $115.00 target price on shares of NIKE in a research note on Friday, August 22nd. Truist Financial decreased their target price on NIKE from $82.00 to $73.00 and set a "buy" rating on the stock in a research note on Tuesday, June 24th. Robert W. Baird increased their price objective on NIKE from $80.00 to $88.00 and gave the stock an "outperform" rating in a report on Friday, June 27th. Finally, Telsey Advisory Group reaffirmed a "market perform" rating and set a $70.00 price objective on shares of NIKE in a research report on Friday, June 27th. Three research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $79.04.

Insider Activity at NIKE

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the company's stock in a transaction 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 transaction, the chairman owned 842,361 shares in the company, valued at $60,894,276.69. This represents a 11.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.80% of the company's stock.

NIKE Stock Performance

Shares of NYSE NKE traded down $1.22 during trading on Friday, reaching $70.88. 33,397,876 shares of the company traded hands, compared to its average volume of 16,179,160. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $90.62. The company has a current ratio of 2.21, a quick ratio of 1.50 and a debt-to-equity ratio of 0.60. The stock has a market cap of $104.68 billion, a P/E ratio of 32.81, a PEG ratio of 2.63 and a beta of 1.24. The firm's fifty day simple moving average is $75.22 and its 200 day simple moving average is $67.61.

NIKE (NYSE:NKE - Get Free Report) last released its earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share for the quarter, topping analysts' consensus estimates of $0.12 by $0.02. The business had revenue of $11.10 billion for 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 business's revenue was down 11.9% on a year-over-year basis. During the same period last year, the company posted $0.99 EPS. As a group, research analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Tuesday, September 2nd. NIKE's payout ratio is presently 74.07%.

About NIKE

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.