NIKE, Inc. (NYSE:NKE) Shares Sold by Plancorp LLC

Plancorp LLC cut its position in shares of NIKE, Inc. (NYSE:NKE) by 4.9% during the 2nd quarter, Holdings Channel reports. The firm owned 8,570 shares of the footwear maker’s stock after selling 442 shares during the period. Plancorp LLC’s holdings in NIKE were worth $646,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Annapolis Financial Services LLC boosted its position in shares of NIKE by 440.0% during the 1st quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock valued at $25,000 after purchasing an additional 220 shares in the last quarter. True Wealth Design LLC grew its position in NIKE by 106.4% in 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 during the last quarter. Frank Rimerman Advisors LLC acquired a new position in NIKE in the fourth quarter worth approximately $33,000. Core Wealth Advisors Inc. increased its holdings in shares of NIKE by 408.5% in the fourth quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock valued at $33,000 after buying an additional 241 shares in the last quarter. Finally, Gold Investment Management Ltd. acquired a new stake in shares of NIKE during the 4th quarter valued at $36,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on NKE. Williams Trading raised NIKE from a “sell” rating to a “buy” rating and boosted their target price for the stock from $67.00 to $93.00 in a research report on Friday, August 16th. Robert W. Baird decreased their target price on NIKE from $125.00 to $100.00 and set an “outperform” rating for the company in a research report on Friday, June 28th. Bank of America lowered their price objective on shares of NIKE from $113.00 to $104.00 and set a “buy” rating on the stock in a research report on Friday, June 28th. Stifel Nicolaus cut their price objective on NIKE from $88.00 to $79.00 and set a “hold” rating for the company in a report on Monday, August 26th. Finally, Truist Financial decreased their target price on NIKE from $99.00 to $81.00 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 assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $95.59.

NIKE Stock Performance

NIKE stock opened at $79.82 on Tuesday. The firm has a market capitalization of $120.48 billion, a P/E ratio of 21.40, a P/E/G ratio of 2.08 and a beta of 1.02. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.40 and a quick ratio of 1.69. The stock has a fifty day moving average price of $77.36 and a two-hundred day moving average price of $87.47. NIKE, Inc. has a 52-week low of $70.75 and a 52-week high of $123.39.

NIKE (NYSE:NKE) last posted its earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. The company had revenue of $12.60 billion during the quarter, compared to analysts’ expectations of $12.86 billion. NIKE had a net margin of 11.10% and a return on equity of 42.63%. NIKE’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.66 earnings per share. As a group, analysts anticipate that NIKE, Inc. will post 3.06 EPS for the current fiscal year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd will be given a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.85%. The ex-dividend date of this dividend is Tuesday, September 3rd. NIKE’s payout ratio is presently 39.68%.

Insider Buying and Selling

In other news, Director Robert Holmes Swan acquired 2,941 shares of the stock in a transaction that occurred on Friday, June 28th. The stock was purchased at an average cost of $77.02 per share, for a total transaction of $226,515.82. Following the completion of the transaction, the director now directly owns 20,946 shares in the company, valued at $1,613,260.92. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Chairman Mark G. Parker sold 52,487 shares of the firm’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 transaction, the chairman now directly owns 1,031,226 shares in the company, valued at approximately $80,435,628. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert Holmes Swan acquired 2,941 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The stock was bought 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 disclosure for this purchase can be found here. 0.50% of the stock is currently owned by corporate insiders.

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.