Whittier Trust Co. of Nevada Inc. lowered its stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 34.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 35,256 shares of the footwear maker's stock after selling 18,527 shares during the period. Whittier Trust Co. of Nevada Inc.'s holdings in NIKE were worth $2,505,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently bought and sold shares of the stock. Berkeley Capital Partners LLC lifted its holdings in NIKE by 4.9% during the second quarter. Berkeley Capital Partners LLC now owns 18,239 shares of the footwear maker's stock worth $1,296,000 after buying an additional 844 shares during the period. CORDA Investment Management LLC. lifted its holdings in NIKE by 9.2% during the second quarter. CORDA Investment Management LLC. now owns 170,535 shares of the footwear maker's stock worth $12,115,000 after buying an additional 14,333 shares during the period. Parthenon LLC lifted its holdings in NIKE by 3.0% during the second quarter. Parthenon LLC now owns 27,084 shares of the footwear maker's stock worth $1,924,000 after buying an additional 785 shares during the period. Cidel Asset Management Inc. lifted its holdings in NIKE by 14.2% during the second quarter. Cidel Asset Management Inc. now owns 8,130 shares of the footwear maker's stock worth $578,000 after buying an additional 1,011 shares during the period. Finally, Salomon & Ludwin LLC lifted its holdings in NIKE by 10.1% during the second quarter. Salomon & Ludwin LLC now owns 1,575 shares of the footwear maker's stock worth $120,000 after buying an additional 145 shares during the period. Hedge funds and other institutional investors own 64.25% of the company's stock.
Insider Buying and Selling at NIKE
In related news, EVP Treasure Heinle sold 4,300 shares of the company's stock in a transaction on Monday, October 6th. The stock was sold at an average price of $71.27, for a total value of $306,461.00. Following the transaction, the executive vice president directly owned 29,396 shares of the company's stock, valued at $2,095,052.92. This represents a 12.76% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Mark G. Parker sold 86,078 shares of the company'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 approximately $56,566,938.84. The trade was a 10.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.80% of the stock is owned by corporate insiders.
NIKE Stock Performance
Shares of NKE stock opened at $68.39 on Wednesday. The business's fifty day simple moving average is $72.84 and its 200-day simple moving average is $67.56. The company has a market cap of $101.09 billion, a PE ratio of 35.07, a PEG ratio of 2.49 and a beta of 1.29. 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 $82.44.
NIKE (NYSE:NKE - Get Free Report) last released its earnings results on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share (EPS) 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 firm had revenue of $11.72 billion for the quarter, compared to the consensus estimate of $10.96 billion. During the same period in the prior year, the firm earned $0.70 EPS. The firm's revenue was up 1.0% on a year-over-year basis. Analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current fiscal 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 given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend was Tuesday, September 2nd. NIKE's dividend payout ratio is presently 82.05%.
Analyst Upgrades and Downgrades
A number of analysts have weighed in on the company. BTIG Research assumed coverage on NIKE in a report on Tuesday, October 14th. They set a "buy" rating and a $100.00 target price for the company. The Goldman Sachs Group set a $85.00 target price on NIKE and gave the stock a "buy" rating in a report on Thursday, September 25th. Bank of America upped their target price on NIKE from $80.00 to $84.00 and gave the stock a "buy" rating in a report on Friday, June 27th. Piper Sandler set a $84.00 target price on NIKE and gave the stock an "overweight" rating in a report on Wednesday, October 1st. Finally, Stifel Nicolaus set a $68.00 price target on NIKE and gave the stock a "hold" rating in a research report on Wednesday, October 1st. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, NIKE currently has a consensus rating of "Moderate Buy" and an average target price of $82.21.
Check Out Our Latest Analysis on NKE
About NIKE
(
Free Report)
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.
Further Reading
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