NIKE, Inc. (NYSE:NKE) Shares Sold by Alpha Omega Wealth Management LLC

Alpha Omega Wealth Management LLC reduced its holdings in shares of NIKE, Inc. (NYSE:NKE) by 4.1% in the 1st quarter, HoldingsChannel reports. The fund owned 7,294 shares of the footwear maker’s stock after selling 315 shares during the quarter. Alpha Omega Wealth Management LLC’s holdings in NIKE were worth $685,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Sherbrooke Park Advisers LLC purchased a new stake in shares of NIKE in the 3rd quarter valued at about $432,000. United Services Automobile Association lifted its holdings in shares of NIKE by 18.1% in the 3rd quarter. United Services Automobile Association now owns 33,626 shares of the footwear maker’s stock valued at $3,215,000 after purchasing an additional 5,165 shares during the last quarter. Kidder Stephen W lifted its holdings in shares of NIKE by 5.3% in the 3rd quarter. Kidder Stephen W now owns 36,552 shares of the footwear maker’s stock valued at $3,495,000 after purchasing an additional 1,850 shares during the last quarter. Gateway Advisory LLC purchased a new stake in shares of NIKE in the 3rd quarter valued at about $583,000. Finally, Quadrature Capital Ltd lifted its holdings in shares of NIKE by 80.9% in the 3rd quarter. Quadrature Capital Ltd now owns 1,066,172 shares of the footwear maker’s stock valued at $101,969,000 after purchasing an additional 476,837 shares during the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

NIKE Trading Down 20.0 %

Shares of NIKE stock traded down $18.82 during trading hours on Friday, reaching $75.37. 129,966,982 shares of the company’s stock were exchanged, compared to its average volume of 9,446,953. NIKE, Inc. has a 52-week low of $74.55 and a 52-week high of $123.39. The firm has a market capitalization of $113.76 billion, a price-to-earnings ratio of 20.21, a price-to-earnings-growth ratio of 1.79 and a beta of 1.05. The company has a fifty day moving average of $93.28 and a 200-day moving average of $99.00. The company has a current ratio of 2.74, a quick ratio of 1.89 and a debt-to-equity ratio of 0.63.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.16. NIKE had a return on equity of 42.87% and a net margin of 11.10%. The company had revenue of $12.60 billion for the quarter, compared to analyst estimates of $12.86 billion. During the same quarter in the prior year, the company posted $0.66 EPS. The business’s revenue for the quarter was down 1.6% compared to the same quarter last year. Sell-side analysts forecast that NIKE, Inc. will post 3.9 EPS for the current fiscal year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date is Monday, June 3rd. NIKE’s dividend payout ratio is presently 39.68%.

Analyst Ratings Changes

Several analysts have commented on the company. Wells Fargo & Company reduced their price objective on NIKE from $115.00 to $92.00 and set an “overweight” rating for the company in a research note on Friday. HSBC reduced their price objective on NIKE from $100.00 to $90.00 and set a “hold” rating for the company in a research note on Friday. Truist Financial reduced their price objective on NIKE from $99.00 to $81.00 and set a “hold” rating for the company in a research note on Friday. Robert W. Baird reduced their price objective on NIKE from $125.00 to $100.00 and set an “outperform” rating for the company in a research note on Friday. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $115.00 price objective on shares of NIKE in a research note on Thursday, June 13th. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $98.96.

Insider Buying and Selling

In related news, Chairman Mark G. Parker sold 168,378 shares of the stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $93.14, for a total value of $15,682,726.92. Following the transaction, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at approximately $102,648,662.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other NIKE news, Chairman Mark G. Parker sold 168,378 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $93.14, for a total value of $15,682,726.92. Following the transaction, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at $102,648,662.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Johanna Nielsen sold 282 shares of the firm’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $93.64, for a total value of $26,406.48. Following the completion of the transaction, the vice president now directly owns 730 shares in the company, valued at $68,357.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 213,660 shares of company stock valued at $19,946,333. 0.50% of the stock is currently owned by company insiders.

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.