Harfst & Associates Inc. Sells 178 Shares of NIKE, Inc. (NYSE:NKE)

Harfst & Associates Inc. lessened its stake in shares of NIKE, Inc. (NYSE:NKE) by 0.8% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 23,339 shares of the footwear maker’s stock after selling 178 shares during the quarter. Harfst & Associates Inc.’s holdings in NIKE were worth $1,759,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in NKE. Annapolis Financial Services LLC lifted its stake in shares of NIKE by 440.0% in the first quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock worth $25,000 after buying an additional 220 shares during the last quarter. True Wealth Design LLC raised its holdings in NIKE by 106.4% in the 4th quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock worth $32,000 after acquiring an additional 150 shares during the period. Frank Rimerman Advisors LLC acquired a new position in NIKE during the 4th quarter worth $33,000. Core Wealth Advisors Inc. boosted its holdings in NIKE by 408.5% during the fourth quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock valued at $33,000 after acquiring an additional 241 shares during the period. Finally, Gold Investment Management Ltd. acquired a new stake in shares of NIKE in the fourth quarter valued at about $36,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Stock Up 0.1 %

Shares of NYSE NKE traded up $0.06 during mid-day trading on Monday, hitting $83.32. The company had a trading volume of 13,755,200 shares, compared to its average volume of 11,453,703. NIKE, Inc. has a one year low of $70.75 and a one year high of $123.39. The company has a market capitalization of $125.76 billion, a PE ratio of 22.34, a price-to-earnings-growth ratio of 2.19 and a beta of 1.01. The company has a current ratio of 2.40, a quick ratio of 1.69 and a debt-to-equity ratio of 0.55. The firm has a 50-day simple moving average of $77.91 and a two-hundred day simple moving average of $89.37.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.16. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The firm had revenue of $12.60 billion for the quarter, compared to analyst estimates of $12.86 billion. During the same period in the prior year, the firm posted $0.66 earnings per share. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. On average, equities analysts expect that NIKE, Inc. will post 3.1 EPS for the current year.

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd will be issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date is Tuesday, September 3rd. NIKE’s payout ratio is currently 39.68%.

Analyst Ratings Changes

Several analysts recently weighed in on NKE shares. Citigroup decreased their target price on NIKE from $115.00 to $102.00 and set a “buy” rating for the company in a research note on Friday, June 28th. UBS Group reiterated a “neutral” rating and issued a $78.00 target price on shares of NIKE in a research note on Friday, June 28th. Piper Sandler restated a “neutral” rating and set a $80.00 price target on shares of NIKE in a research note on Friday, August 23rd. BMO Capital Markets reduced their price objective on shares of NIKE from $118.00 to $100.00 and set an “outperform” rating for the company in a report on Friday, June 28th. Finally, HSBC dropped their price target on shares of NIKE from $100.00 to $90.00 and set a “hold” rating for the company in a research report on Friday, June 28th. Fifteen investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, NIKE presently has an average rating of “Moderate Buy” and a consensus price target of $95.59.

Insiders Place Their Bets

In other NIKE news, Director Robert Holmes Swan bought 2,941 shares of NIKE stock in a transaction dated Friday, June 28th. The stock was bought at an average cost of $77.02 per share, for a total transaction of $226,515.82. Following the purchase, the director now owns 20,946 shares of the company’s stock, valued at approximately $1,613,260.92. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other NIKE news, Director Robert Holmes Swan purchased 2,941 shares of the business’s stock in a transaction on Friday, June 28th. The stock was acquired at an average price of $77.02 per share, with a total value 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 NIKE stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the transaction, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at $80,435,628. The disclosure for this sale can be found here. Company insiders own 0.50% of the company’s stock.

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.