Marietta Wealth Management LLC Sells 46,740 Shares of NIKE, Inc. (NYSE:NKE)

Marietta Wealth Management LLC lowered its position in NIKE, Inc. (NYSE:NKE) by 94.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,708 shares of the footwear maker’s stock after selling 46,740 shares during the period. Marietta Wealth Management LLC’s holdings in NIKE were worth $239,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in NKE. Annapolis Financial Services LLC raised its position in shares of 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 purchasing an additional 220 shares during the period. Transcendent Capital Group LLC lifted its stake in NIKE by 97.6% in the first quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker’s stock valued at $38,000 after buying an additional 200 shares in the last quarter. VitalStone Financial LLC boosted its holdings in shares of NIKE by 52.6% in the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock valued at $38,000 after buying an additional 150 shares during the period. Bruce G. Allen Investments LLC increased its position in shares of NIKE by 272.5% during the second quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock worth $39,000 after acquiring an additional 376 shares in the last quarter. Finally, Triad Wealth Partners LLC acquired a new stake in shares of NIKE during the second quarter worth $44,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

Insider Buying and Selling at NIKE

In other news, 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 completion of the sale, the chairman now owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on NKE. Wedbush reduced their target price on shares of NIKE from $115.00 to $97.00 and set an “outperform” rating for the company in a research note on Friday, June 28th. Robert W. Baird increased their price objective on NIKE from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Friday, September 20th. Piper Sandler reissued a “neutral” rating and issued a $80.00 target price on shares of NIKE in a research report on Friday, September 20th. KeyCorp reaffirmed a “sector weight” rating on shares of NIKE in a research report on Friday, June 28th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $120.00 price objective on shares of NIKE in a report on Friday, June 28th. Fourteen analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $96.56.

NIKE Trading Down 0.1 %

NKE stock opened at $81.42 on Wednesday. The stock has a market cap of $122.89 billion, a price-to-earnings ratio of 21.83, a price-to-earnings-growth ratio of 1.96 and a beta of 1.02. The company has a fifty day moving average price of $82.83 and a two-hundred day moving average price of $85.14. NIKE, Inc. has a one year low of $70.75 and a one year high of $123.39. 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 (NYSE:NKE) last announced its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.18. The business had revenue of $11.59 billion for the quarter, compared to analyst estimates of $11.64 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. NIKE’s quarterly revenue was down 10.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.94 EPS. Equities analysts anticipate that NIKE, Inc. will post 2.8 EPS for the current year.

NIKE Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd were paid a $0.37 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.48 annualized dividend and a yield of 1.82%. NIKE’s dividend payout ratio (DPR) is presently 39.68%.

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.