NIKE, Inc. $NKE Shares Sold by YHB Investment Advisors Inc.

Key Points

• YHB Investment Advisors Inc. decreased its stake in NIKE, Inc. by 13.0% during the second quarter, resulting in ownership of 24,263 shares valued at $1,724,000.
• Other institutional investors, such as Brighton Jones LLC and Bank Pictet & Cie Europe AG, significantly increased their stakes in NIKE during the fourth quarter, indicating strong interest from large investors.
• NIKE's quarterly earnings report revealed earnings per share of $0.14, exceeding analysts' expectations, despite a year-over-year revenue decline of 11.9%.

YHB Investment Advisors Inc. reduced its stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 13.0% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 24,263 shares of the footwear maker's stock after selling 3,615 shares during the period. YHB Investment Advisors Inc.'s holdings in NIKE were worth $1,724,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NKE. Spire Wealth Management lifted its holdings in NIKE by 4.4% in the first quarter. Spire Wealth Management now owns 9,872 shares of the footwear maker's stock valued at $627,000 after acquiring an additional 416 shares during the period. Bank Julius Baer & Co. Ltd Zurich increased its holdings in shares of NIKE by 0.6% during the 1st quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,008,340 shares of the footwear maker's stock valued at $69,932,000 after purchasing an additional 5,601 shares in the last quarter. Mackenzie Financial Corp increased its holdings in shares of NIKE by 75.1% during the 4th quarter. Mackenzie Financial Corp now owns 539,650 shares of the footwear maker's stock valued at $40,835,000 after purchasing an additional 231,417 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd acquired a new stake in NIKE during the first quarter valued at $25,963,000. Finally, Olstein Capital Management L.P. grew 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 valued at $5,777,000 after buying an additional 27,000 shares during the period. 64.25% of the stock is owned by institutional investors and hedge funds.

NIKE Price Performance

NYSE NKE traded down $1.22 during trading hours on Friday, hitting $70.88. 33,397,876 shares of the company's stock traded hands, compared to its average volume of 10,678,684. NIKE, Inc. has a 52-week low of $52.28 and a 52-week high of $90.62. The company has a market capitalization of $104.68 billion, a PE ratio of 32.81, a PEG ratio of 2.57 and a beta of 1.24. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.21 and a quick ratio of 1.50. The firm's 50-day moving average is $75.19 and its 200-day moving average is $67.50.

NIKE (NYSE:NKE - Get Free Report) last issued its earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.02. The business had revenue of $11.10 billion for the quarter, compared to analysts' expectations of $10.69 billion. NIKE had a return on equity of 23.33% and a net margin of 6.95%.The business's revenue for the quarter was down 11.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.99 EPS. Equities analysts forecast that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

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 given a dividend of $0.40 per share. The ex-dividend date 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 (DPR) is presently 74.07%.

Insider Activity

In other NIKE news, Chairman Mark G. Parker sold 86,078 shares of the firm's stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $75.93, for a total value of $6,535,902.54. Following the completion of the sale, the chairman directly owned 744,988 shares of the company's stock, valued at $56,566,938.84. This trade represents a 10.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.80% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

NKE has been the subject of a number of recent analyst reports. Needham & Company LLC boosted their price objective on NIKE from $66.00 to $78.00 and gave the company a "buy" rating in a research report on Friday, June 27th. Truist Financial dropped their price target on shares of NIKE from $82.00 to $73.00 and set a "buy" rating on the stock in a research note on Tuesday, June 24th. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of NIKE in a report on Monday, August 18th. Citigroup upgraded shares of NIKE from a "neutral" rating to a "positive" rating in a research report on Friday. Finally, Bank of America upped their price target on shares of NIKE from $80.00 to $84.00 and gave the stock a "buy" rating in a research report on Friday, June 27th. Three investment analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $79.04.

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.