Violich Capital Management Inc. Sells 13,870 Shares of NIKE, Inc. $NKE

Key Points

• Violich Capital Management Inc. reduced its holdings in NIKE, Inc. by 19.6%, selling 13,870 shares, leaving them with 57,030 shares valued at approximately $4.05 million.
• NIKE reported earnings per share of $0.49 for the last quarter, exceeding expectations of $0.27, along with revenues of $11.72 billion
• NIKE announced a quarterly dividend of $0.40 per share, resulting in a dividend yield of 2.4%, with an annualized payout amounting to $1.60.

Violich Capital Management Inc. lessened its position in NIKE, Inc. (NYSE:NKE - Free Report) by 19.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 57,030 shares of the footwear maker's stock after selling 13,870 shares during the quarter. Violich Capital Management Inc.'s holdings in NIKE were worth $4,051,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Spire Wealth Management increased its stake in NIKE by 4.4% in the 1st quarter. Spire Wealth Management now owns 9,872 shares of the footwear maker's stock worth $627,000 after buying an additional 416 shares during the period. Bank Julius Baer & Co. Ltd Zurich increased its stake in NIKE by 0.6% in the 1st quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,008,340 shares of the footwear maker's stock worth $69,932,000 after buying an additional 5,601 shares during the period. Clal Insurance Enterprises Holdings Ltd purchased a new position in NIKE in the 1st quarter worth about $25,963,000. BROOKFIELD Corp ON increased its stake in NIKE by 36.2% in the 1st quarter. BROOKFIELD Corp ON now owns 658,598 shares of the footwear maker's stock worth $41,808,000 after buying an additional 175,000 shares during the period. Finally, Cadence Bank increased its stake in NIKE by 10.0% in the 1st quarter. Cadence Bank now owns 83,002 shares of the footwear maker's stock worth $5,269,000 after buying an additional 7,574 shares during the period. Institutional investors own 64.25% of the company's stock.

NIKE Stock Performance

Shares of NYSE NKE opened at $67.46 on Friday. The company has a current ratio of 2.19, a quick ratio of 1.45 and a debt-to-equity ratio of 0.59. NIKE, Inc. has a 12 month low of $52.28 and a 12 month high of $83.95. The company has a 50 day simple moving average of $73.10 and a two-hundred day simple moving average of $67.40. The stock has a market cap of $99.72 billion, a price-to-earnings ratio of 34.59, a PEG ratio of 2.48 and a beta of 1.29.

NIKE (NYSE:NKE - Get Free Report) last announced its quarterly earnings data on Tuesday, September 30th. The footwear maker reported $0.49 EPS for the quarter, beating the consensus estimate of $0.27 by $0.22. NIKE had a net margin of 6.23% and a return on equity of 21.16%. The business had revenue of $11.72 billion during the quarter, compared to analysts' expectations of $10.96 billion. During the same period in the previous year, the business posted $0.70 EPS. The business's quarterly revenue was up 1.0% compared to the same quarter last year. As a group, analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.4%. The ex-dividend date was Tuesday, September 2nd. NIKE's payout ratio is currently 82.05%.

Insider Buying and Selling at NIKE

In related 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 value of $6,535,902.54. Following the completion of the transaction, the chairman directly owned 744,988 shares in the company, valued at $56,566,938.84. The trade was a 10.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Treasure Heinle sold 4,300 shares of the business's stock in a transaction on Monday, October 6th. The shares were sold at an average price of $71.27, for a total transaction of $306,461.00. Following the completion of the transaction, the executive vice president owned 29,396 shares of the company's stock, valued at approximately $2,095,052.92. This represents a 12.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.80% of the company's stock.

Wall Street Analyst Weigh In

NKE has been the topic of several recent analyst reports. Truist Financial reaffirmed a "buy" rating and issued a $85.00 price target on shares of NIKE in a research note on Wednesday, October 1st. Argus raised shares of NIKE to a "buy" rating in a research report on Sunday, July 6th. Bank of America raised their target price on shares of NIKE from $80.00 to $84.00 and gave the company a "buy" rating in a research report on Friday, June 27th. HSBC raised shares of NIKE from a "hold" rating to a "buy" rating and set a $80.00 price objective on the stock in a research report on Friday, June 27th. Finally, DZ Bank raised shares of NIKE from a "hold" rating to a "buy" rating in a research 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 assigned a Hold rating to the stock. According to data from MarketBeat.com, NIKE currently has an average rating of "Moderate Buy" and an average price target of $82.21.

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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