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

Harfst & Associates Inc. cut its stake in shares of NIKE, Inc. (NYSE:NKE) by 54.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 11,406 shares of the footwear maker’s stock after selling 13,875 shares during the quarter. Harfst & Associates Inc.’s holdings in NIKE were worth $724,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Spire Wealth Management grew its position in shares of NIKE by 4.4% during the first quarter. Spire Wealth Management now owns 9,872 shares of the footwear maker’s stock worth $627,000 after buying an additional 416 shares in the last quarter. Capitolis Liquid Global Markets LLC grew its position in shares of NIKE by 40.9% during the fourth quarter. Capitolis Liquid Global Markets LLC now owns 310,000 shares of the footwear maker’s stock worth $23,458,000 after buying an additional 90,000 shares in the last quarter. Janus Henderson Group PLC grew its position in shares of NIKE by 8.3% during the fourth quarter. Janus Henderson Group PLC now owns 6,081,021 shares of the footwear maker’s stock worth $460,160,000 after buying an additional 463,470 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich boosted its holdings in NIKE by 0.6% in the first quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,008,340 shares of the footwear maker’s stock valued at $69,932,000 after purchasing an additional 5,601 shares in the last quarter. Finally, Evergreen Capital Management LLC boosted its holdings in NIKE by 3.3% in the fourth quarter. Evergreen Capital Management LLC now owns 237,199 shares of the footwear maker’s stock valued at $18,042,000 after purchasing an additional 7,536 shares in the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

NIKE Trading Up 3.2%

NYSE:NKE opened at $77.28 on Thursday. The stock has a fifty day moving average price of $70.49 and a two-hundred day moving average price of $67.67. The stock has a market capitalization of $114.13 billion, a price-to-earnings ratio of 35.78, a PEG ratio of 2.72 and a beta of 1.27. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.50 and a current ratio of 2.21. NIKE, Inc. has a 1 year low of $52.28 and a 1 year high of $90.62.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, June 26th. The footwear maker reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.02. The firm had revenue of $11.10 billion during the quarter, compared to analysts’ expectations of $10.69 billion. NIKE had a return on equity of 23.33% and a net margin of 6.95%. NIKE’s revenue was down 11.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.99 earnings per share. As a group, sell-side analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be given a $0.40 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $1.60 annualized dividend and a yield of 2.1%. NIKE’s dividend payout ratio is presently 74.07%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on NKE. Needham & Company LLC upped their price target on NIKE from $66.00 to $78.00 and gave the company a “buy” rating in a report on Friday, June 27th. Robert W. Baird upped their price target on NIKE from $80.00 to $88.00 and gave the company an “outperform” rating in a report on Friday, June 27th. Truist Financial lowered their price target on NIKE from $82.00 to $73.00 and set a “buy” rating for the company in a report on Tuesday, June 24th. JPMorgan Chase & Co. raised NIKE from a “neutral” rating to an “overweight” rating and upped their price target for the company from $64.00 to $93.00 in a report on Monday, July 28th. Finally, Citigroup upped their price target on NIKE from $57.00 to $68.00 and gave the company a “neutral” rating in a report on Friday, June 27th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, seventeen have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $78.22.

Insider Transactions at NIKE

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $72.29, for a total value of $7,951,900.00. Following the completion of the transaction, the chairman owned 842,361 shares in the company, valued at approximately $60,894,276.69. This represents a 11.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.80% 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.