Thurston Springer Miller Herd & Titak Inc. Has $1.52 Million Stock Position in NIKE, Inc. $NKE

Key Points

• Thurston Springer Miller Herd & Titak Inc. reduced its position in NIKE by 46% in the second quarter, now holding $1.52 million in stock.
• Multiple hedge funds have adjusted their positions in NIKE, with institutional investors owning 64.25% of the stock.
• NIKE recently announced a quarterly dividend of $0.40 per share, representing a 2.2% yield, with a payout ratio of 74.07%.

Thurston Springer Miller Herd & Titak Inc. reduced its position in NIKE, Inc. (NYSE:NKE - Free Report) by 46.0% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 21,424 shares of the footwear maker's stock after selling 18,269 shares during the period. Thurston Springer Miller Herd & Titak Inc.'s holdings in NIKE were worth $1,522,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Spire Wealth Management lifted its position in NIKE by 4.4% during the first quarter. Spire Wealth Management now owns 9,872 shares of the footwear maker's stock worth $627,000 after acquiring an additional 416 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich lifted its position in NIKE by 0.6% during the first quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,008,340 shares of the footwear maker's stock worth $69,932,000 after acquiring an additional 5,601 shares during the last quarter. Mackenzie Financial Corp lifted its position in NIKE by 75.1% during the fourth quarter. Mackenzie Financial Corp now owns 539,650 shares of the footwear maker's stock worth $40,835,000 after acquiring an additional 231,417 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd acquired a new stake in NIKE during the first quarter worth approximately $25,963,000. Finally, Olstein Capital Management L.P. lifted its position in NIKE by 42.2% during the first quarter. Olstein Capital Management L.P. now owns 91,000 shares of the footwear maker's stock worth $5,777,000 after acquiring an additional 27,000 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on NKE shares. Wall Street Zen upgraded shares of NIKE from a "sell" rating to a "hold" rating in a research report on Saturday, September 6th. HSBC upgraded shares of NIKE from a "hold" rating to a "buy" rating and set a $80.00 price target for the company in a research report on Friday, June 27th. Piper Sandler lifted their price target on shares of NIKE from $70.00 to $80.00 and gave the company an "overweight" rating in a research report on Friday, June 27th. Robert W. Baird lifted their price target on shares of NIKE from $80.00 to $88.00 and gave the company an "outperform" rating in a research report on Friday, June 27th. Finally, Hsbc Global Res upgraded shares of NIKE from a "hold" rating to a "strong-buy" rating in a research report on Friday, June 27th. Three equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and eleven have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $78.67.

Insider Buying and Selling at NIKE

In other NIKE news, Chairman Mark G. Parker sold 86,078 shares of the business's stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $75.93, for a total transaction of $6,535,902.54. Following the sale, the chairman owned 744,988 shares of the company's stock, valued at approximately $56,566,938.84. The trade was a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.80% of the company's stock.

NIKE Trading Down 1.6%

Shares of NKE stock opened at $73.12 on Monday. The stock's fifty day moving average price is $75.40 and its two-hundred day moving average price is $67.63. The company has a market cap of $107.98 billion, a PE ratio of 33.85, a P/E/G ratio of 2.65 and a beta of 1.24. NIKE, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $90.62. 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 (NYSE:NKE - Get Free Report) last posted 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 firm had revenue of $11.10 billion for the quarter, compared to analysts' expectations of $10.69 billion. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The company's revenue was down 11.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.99 earnings per share. Equities analysts predict that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.2%. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.