J. Safra Sarasin Holding AG Sells 826 Shares of NIKE, Inc. $NKE

J. Safra Sarasin Holding AG lowered its stake in shares of NIKE, Inc. (NYSE:NKE) by 9.1% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,249 shares of the footwear maker’s stock after selling 826 shares during the quarter. J. Safra Sarasin Holding AG’s holdings in NIKE were worth $586,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in NKE. Brighton Jones LLC grew its position in NIKE by 388.5% during the fourth quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker’s stock valued at $15,316,000 after buying an additional 160,980 shares during the period. Merit Financial Group LLC grew its position in NIKE by 26.2% during the first quarter. Merit Financial Group LLC now owns 10,526 shares of the footwear maker’s stock valued at $668,000 after buying an additional 2,187 shares during the period. RFG Advisory LLC grew its position in NIKE by 11.6% during the first quarter. RFG Advisory LLC now owns 9,746 shares of the footwear maker’s stock valued at $619,000 after buying an additional 1,011 shares during the period. Naples Global Advisors LLC grew its position in NIKE by 16.3% during the first quarter. Naples Global Advisors LLC now owns 8,224 shares of the footwear maker’s stock valued at $525,000 after buying an additional 1,152 shares during the period. Finally, Curat Global LLC bought a new position in NIKE during the first quarter valued at about $119,000. Institutional investors own 64.25% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on NKE. Robert W. Baird increased their price target on shares of NIKE from $80.00 to $88.00 and gave the company an “outperform” rating in a research report on Friday, June 27th. Telsey Advisory Group reiterated a “market perform” rating and set a $75.00 target price on shares of NIKE in a research report on Wednesday. Jefferies Financial Group reiterated a “buy” rating and set a $115.00 target price on shares of NIKE in a research report on Monday, September 29th. Weiss Ratings reiterated a “sell (d+)” rating on shares of NIKE in a research report on Saturday, September 27th. Finally, Truist Financial reiterated a “buy” rating and set a $85.00 target price on shares of NIKE in a research report on Wednesday. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $81.57.

NIKE Price Performance

NKE stock opened at $72.01 on Friday. The firm has a 50 day moving average of $74.62 and a 200-day moving average of $67.27. The company has a current ratio of 2.19, a quick ratio of 1.50 and a debt-to-equity ratio of 0.59. NIKE, Inc. has a 12 month low of $52.28 and a 12 month high of $84.76. The firm has a market capitalization of $106.34 billion, a P/E ratio of 36.93, a price-to-earnings-growth ratio of 2.65 and a beta of 1.29.

NIKE (NYSE:NKE) last released its quarterly earnings data on Tuesday, September 30th. The footwear maker reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.22. NIKE had a net margin of 6.23% and a return on equity of 21.16%. The company had revenue of $11.72 billion during the quarter, compared to analyst estimates of $10.96 billion. During the same period last year, the business earned $0.70 earnings per share. NIKE’s revenue was up 1.0% compared to the same quarter last year. As a group, sell-side analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date was Tuesday, September 2nd. NIKE’s dividend payout ratio (DPR) is 82.05%.

Insider Activity at NIKE

In other news, Chairman Mark G. Parker sold 110,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 16th. The shares were 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 directly owned 842,361 shares in the company, valued at approximately $60,894,276.69. This trade represents a 11.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.80% of the company’s stock.

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.