V Square Quantitative Management LLC Sells 15,114 Shares of NIKE, Inc. $NKE

Key Points

• V Square Quantitative Management LLC reduced its stake in NIKE, Inc. by 51.3% in the second quarter, selling 15,114 shares and now holding 14,358 shares valued at $1,020,000.
• Analysts have provided a mixed outlook on NIKE, with some upgrades, including Royal Bank of Canada raising its price target from $76.00 to $90.00 and Jefferies maintaining a buy rating with a target of $115.00.
• NIKE recently announced a quarterly dividend of $0.40 per share, reflecting an annualized yield of 2.3% and a payout ratio of 74.07%.

V Square Quantitative Management LLC lowered its stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 51.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,358 shares of the footwear maker's stock after selling 15,114 shares during the quarter. V Square Quantitative Management LLC's holdings in NIKE were worth $1,020,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. First County Bank CT bought a new stake in NIKE during the second quarter worth $252,000. Independence Bank of Kentucky grew its holdings in NIKE by 42.1% during the second quarter. Independence Bank of Kentucky now owns 4,061 shares of the footwear maker's stock worth $288,000 after buying an additional 1,203 shares in the last quarter. Addenda Capital Inc. grew its holdings in NIKE by 0.7% during the second quarter. Addenda Capital Inc. now owns 194,390 shares of the footwear maker's stock worth $13,881,000 after buying an additional 1,408 shares in the last quarter. Fort Washington Investment Advisors Inc. OH grew its holdings in NIKE by 19.9% during the second quarter. Fort Washington Investment Advisors Inc. OH now owns 447,599 shares of the footwear maker's stock worth $31,797,000 after buying an additional 74,260 shares in the last quarter. Finally, Avior Wealth Management LLC boosted its position in NIKE by 6.6% in the second quarter. Avior Wealth Management LLC now owns 32,527 shares of the footwear maker's stock worth $2,311,000 after purchasing an additional 2,019 shares during the last quarter. Institutional investors own 64.25% of the company's stock.

Analyst Ratings Changes

Several research firms have weighed in on NKE. Royal Bank Of Canada raised NIKE from a "sector perform" rating to an "outperform" rating and boosted their price objective for the stock from $76.00 to $90.00 in a research report on Thursday, September 18th. Jefferies Financial Group reissued a "buy" rating and issued a $115.00 price objective on shares of NIKE in a research report on Monday. Wall Street Zen raised NIKE from a "sell" rating to a "hold" rating in a research report on Saturday, September 6th. Barclays boosted their price objective on NIKE from $64.00 to $65.00 and gave the stock an "equal weight" rating in a research report on Thursday, September 18th. Finally, Needham & Company LLC boosted their price objective on NIKE from $66.00 to $78.00 and gave the stock a "buy" rating in a research report on Friday, June 27th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $79.62.

NIKE Stock Performance

Shares of NKE opened at $69.57 on Tuesday. The stock's 50-day simple moving average is $74.90 and its 200 day simple moving average is $67.25. The stock has a market capitalization of $102.75 billion, a price-to-earnings ratio of 32.21, a price-to-earnings-growth ratio of 2.53 and a beta of 1.24. 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 52-week low of $52.28 and a 52-week high of $89.75.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd will be issued a dividend of $0.40 per share. 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 2.3%. NIKE's dividend payout ratio is 74.07%.

Insider Transactions at NIKE

In related news, Chairman Mark G. Parker sold 86,078 shares of the 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 sale, the chairman owned 744,988 shares of the company's stock, valued at approximately $56,566,938.84. This represents a 10.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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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