NIKE, Inc. (NYSE:NKE) Shares Sold by Gryphon Financial Partners LLC

Gryphon Financial Partners LLC lowered its holdings in NIKE, Inc. (NYSE:NKE) by 16.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,609 shares of the footwear maker’s stock after selling 1,088 shares during the quarter. Gryphon Financial Partners LLC’s holdings in NIKE were worth $423,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in NKE. Annapolis Financial Services LLC boosted its holdings in NIKE by 440.0% during 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 in the last quarter. True Wealth Design LLC boosted its holdings in NIKE by 106.4% during the fourth quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock worth $32,000 after buying an additional 150 shares in the last quarter. Frank Rimerman Advisors LLC purchased a new stake in NIKE during the fourth 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 worth $33,000 after buying an additional 241 shares in the last quarter. Finally, Gold Investment Management Ltd. purchased a new stake in NIKE during the fourth quarter worth $36,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

Insider Activity

In other NIKE news, Director Robert Holmes Swan acquired 2,941 shares of the stock in a transaction dated 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 completion of the purchase, the director now owns 20,946 shares in the company, valued at approximately $1,613,260.92. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Robert Holmes Swan purchased 2,941 shares of the firm’s stock in a transaction that occurred on 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 completion of the purchase, the director now directly owns 20,946 shares of the company’s stock, valued at $1,613,260.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the completion of the transaction, the chairman now owns 1,102,090 shares of the company’s stock, valued at approximately $80,419,507.30. The disclosure for this sale can be found here. Insiders own 0.50% of the company’s stock.

NIKE Price Performance

Shares of NKE opened at $78.07 on Wednesday. NIKE, Inc. has a 1-year low of $70.75 and a 1-year high of $123.39. The stock has a market cap of $117.06 billion, a PE ratio of 20.93, a P/E/G ratio of 2.11 and a beta of 1.02. The firm has a 50-day simple moving average of $77.03 and a two-hundred day simple moving average of $88.19. 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 posted its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, beating 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 business had revenue of $12.60 billion during the quarter, compared to analyst estimates of $12.86 billion. During the same quarter last year, the firm posted $0.66 earnings per share. The business’s revenue for the quarter was down 1.6% compared to the same quarter last year. As a group, analysts forecast that NIKE, Inc. will post 3.1 EPS for the current year.

NIKE Announces Dividend

The firm 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 annualized dividend and a dividend yield of 1.90%. The ex-dividend date of this dividend is Tuesday, September 3rd. NIKE’s payout ratio is 39.68%.

Wall Street Analysts Forecast Growth

NKE has been the topic of a number of recent analyst reports. Piper Sandler reissued a “neutral” rating and set a $80.00 price target on shares of NIKE in a report on Friday, August 23rd. StockNews.com downgraded shares of NIKE from a “buy” rating to a “hold” rating in a research note on Friday, June 21st. Truist Financial decreased their price target on shares of NIKE from $99.00 to $81.00 and set a “hold” rating on the stock in a research note on Friday, June 28th. Barclays downgraded shares of NIKE from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $109.00 to $80.00 in a research note on Friday, June 28th. Finally, Wedbush decreased their price target on shares of NIKE from $115.00 to $97.00 and set an “outperform” rating on the stock in a research note on Friday, June 28th. Fourteen investment 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 an average rating of “Moderate Buy” and a consensus target price of $95.59.

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.