NIKE, Inc. (NYSE:NKE) Shares Sold by Highland Capital Management LLC

Highland Capital Management LLC trimmed its holdings in shares of NIKE, Inc. (NYSE:NKE) by 4.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 99,358 shares of the footwear maker’s stock after selling 4,512 shares during the period. Highland Capital Management LLC’s holdings in NIKE were worth $7,489,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in NIKE by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 110,044,821 shares of the footwear maker’s stock worth $10,342,012,000 after purchasing an additional 501,792 shares during the period. Capital International Investors boosted its position in NIKE by 34.9% during the 4th quarter. Capital International Investors now owns 27,609,613 shares of the footwear maker’s stock worth $2,997,628,000 after purchasing an additional 7,143,775 shares during the period. Price T Rowe Associates Inc. MD boosted its position in NIKE by 87.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 17,135,431 shares of the footwear maker’s stock worth $1,860,395,000 after purchasing an additional 7,996,434 shares during the period. Norges Bank purchased a new stake in NIKE during the 4th quarter worth $1,315,097,000. Finally, Fisher Asset Management LLC boosted its position in NIKE by 2.3% in the 4th quarter. Fisher Asset Management LLC now owns 9,887,769 shares of the footwear maker’s stock valued at $1,073,515,000 after buying an additional 219,091 shares during the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other NIKE news, Director Robert Holmes Swan acquired 2,941 shares of NIKE stock in a transaction dated Friday, June 28th. The stock was bought at an average price of $77.02 per share, for a total transaction of $226,515.82. Following the transaction, the director now owns 20,946 shares in the company, valued at approximately $1,613,260.92. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Robert Holmes Swan bought 2,941 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The shares were acquired at an average cost of $77.02 per share, for a total transaction of $226,515.82. Following the acquisition, the director now directly owns 20,946 shares of the company’s stock, valued at approximately $1,613,260.92. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Mark G. Parker sold 52,487 shares of the business’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total value of $4,093,986.00. Following the sale, the chairman now directly owns 1,031,226 shares in the company, valued at $80,435,628. The disclosure for this sale can be found here. Insiders own 0.50% of the company’s stock.

NIKE Stock Performance

Shares of NYSE NKE traded up $0.64 during midday trading on Friday, reaching $84.05. 9,219,749 shares of the company traded hands, compared to its average volume of 11,466,775. The company has a market cap of $126.86 billion, a price-to-earnings ratio of 22.53, a PEG ratio of 1.92 and a beta of 1.01. The stock has a 50-day moving average price of $79.07 and a 200 day moving average price of $90.13. NIKE, Inc. has a 52 week low of $70.75 and a 52 week high of $123.39. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.40 and a quick ratio of 1.69.

NIKE (NYSE:NKE) last released its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.16. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The company had revenue of $12.60 billion for the quarter, compared to the consensus estimate of $12.86 billion. During the same period in the previous year, the firm earned $0.66 EPS. NIKE’s revenue was down 1.6% on a year-over-year basis. Sell-side analysts anticipate that NIKE, Inc. will post 3.12 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date of this dividend is Tuesday, September 3rd. NIKE’s dividend payout ratio is presently 39.68%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on NKE shares. Jefferies Financial Group decreased their price objective on shares of NIKE from $90.00 to $80.00 in a research report on Friday, July 12th. Barclays cut shares of NIKE from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $109.00 to $80.00 in a research report on Friday, June 28th. Citigroup decreased their price objective on shares of NIKE from $115.00 to $102.00 and set a “buy” rating for the company in a research report on Friday, June 28th. Wedbush decreased their price objective on shares of NIKE from $115.00 to $97.00 and set an “outperform” rating for the company in a research report on Friday, June 28th. Finally, Piper Sandler reissued a “neutral” rating and issued a $80.00 price objective on shares of NIKE in a research report on Friday. Fifteen research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $95.93.

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.