NIKE, Inc. (NYSE:NKE) Shares Sold by Cullinan Associates Inc.

Cullinan Associates Inc. trimmed its stake in shares of NIKE, Inc. (NYSE:NKE) by 44.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 14,355 shares of the footwear maker’s stock after selling 11,592 shares during the quarter. Cullinan Associates Inc.’s holdings in NIKE were worth $1,174,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Ascent Wealth Partners LLC boosted its stake in shares of NIKE by 0.4% in the 1st quarter. Ascent Wealth Partners LLC now owns 28,513 shares of the footwear maker’s stock valued at $2,680,000 after purchasing an additional 115 shares in the last quarter. Condor Capital Management boosted its position in NIKE by 0.4% in the first quarter. Condor Capital Management now owns 26,079 shares of the footwear maker’s stock valued at $2,451,000 after buying an additional 116 shares in the last quarter. Lodestone Wealth Management LLC grew its stake in NIKE by 5.5% during the first quarter. Lodestone Wealth Management LLC now owns 2,248 shares of the footwear maker’s stock worth $211,000 after buying an additional 118 shares during the last quarter. Nvwm LLC increased its holdings in shares of NIKE by 1.0% during the first quarter. Nvwm LLC now owns 11,568 shares of the footwear maker’s stock worth $1,091,000 after buying an additional 120 shares in the last quarter. Finally, Garrison Point Advisors LLC raised its stake in shares of NIKE by 1.9% in the third quarter. Garrison Point Advisors LLC now owns 6,704 shares of the footwear maker’s stock valued at $593,000 after acquiring an additional 126 shares during the last quarter. Institutional investors own 64.25% of the company’s stock.

Analyst Ratings Changes

NKE has been the topic of several research analyst reports. The Goldman Sachs Group decreased their price target on shares of NIKE from $118.00 to $105.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. Daiwa America lowered NIKE from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Piper Sandler reissued a “neutral” rating and set a $80.00 price target on shares of NIKE in a research note on Friday, September 20th. Royal Bank of Canada cut their price objective on NIKE from $85.00 to $82.00 and set a “sector perform” rating on the stock in a report on Wednesday, October 2nd. Finally, Wedbush lowered their target price on NIKE from $115.00 to $97.00 and set an “outperform” rating for the company in a research note on Friday, June 28th. Fourteen investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $96.56.

NIKE Stock Up 0.6 %

NYSE:NKE traded up $0.44 during mid-day trading on Friday, hitting $79.48. 1,290,961 shares of the company’s stock were exchanged, compared to its average volume of 11,566,721. The company has a market cap of $119.17 billion, a PE ratio of 22.65, a P/E/G ratio of 1.95 and a beta of 1.02. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58. NIKE, Inc. has a one year low of $70.75 and a one year high of $123.39. The business has a fifty day moving average price of $82.86 and a 200 day moving average price of $85.10.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.18. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The firm had revenue of $11.59 billion during the quarter, compared to analyst estimates of $11.64 billion. During the same period in the previous year, the business posted $0.94 earnings per share. The business’s revenue for the quarter was down 10.4% on a year-over-year basis. Equities analysts predict that NIKE, Inc. will post 2.78 EPS for the current year.

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd were given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date of this dividend was Tuesday, September 3rd. NIKE’s dividend payout ratio (DPR) is presently 42.41%.

Insider Activity

In related news, Chairman Mark G. Parker sold 52,487 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the completion of the sale, the chairman now directly owns 1,031,226 shares in the company, valued at approximately $80,435,628. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.10% of the company’s stock.

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.