CFM Wealth Partners LLC Sells 260 Shares of NIKE, Inc. $NKE

CFM Wealth Partners LLC trimmed its stake in NIKE, Inc. (NYSE:NKE) by 7.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,469 shares of the footwear maker’s stock after selling 260 shares during the period. CFM Wealth Partners LLC’s holdings in NIKE were worth $246,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in NIKE by 4.6% in the first quarter. Vanguard Group Inc. now owns 113,151,080 shares of the footwear maker’s stock worth $7,182,831,000 after purchasing an additional 4,957,494 shares in the last quarter. Wellington Management Group LLP boosted its stake in NIKE by 24.9% in the first quarter. Wellington Management Group LLP now owns 45,383,916 shares of the footwear maker’s stock worth $2,880,971,000 after purchasing an additional 9,043,180 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in NIKE by 344.2% in the first quarter. Goldman Sachs Group Inc. now owns 26,698,835 shares of the footwear maker’s stock worth $1,694,842,000 after purchasing an additional 20,688,013 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in NIKE by 3.0% in the first quarter. Bank of New York Mellon Corp now owns 20,988,207 shares of the footwear maker’s stock worth $1,332,331,000 after purchasing an additional 620,214 shares in the last quarter. Finally, Flossbach Von Storch SE boosted its stake in NIKE by 24.0% in the first quarter. Flossbach Von Storch SE now owns 10,286,619 shares of the footwear maker’s stock worth $652,995,000 after purchasing an additional 1,988,547 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors.

NIKE Trading Down 0.9%

Shares of NKE opened at $71.25 on Tuesday. The company has a quick ratio of 1.45, a current ratio of 2.19 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 $105.23 billion, a PE ratio of 36.54, a price-to-earnings-growth ratio of 2.64 and a beta of 1.29. The stock’s fifty day simple moving average is $74.46 and its 200-day simple moving average is $67.26.

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

NIKE Dividend Announcement

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

Insider Transactions at NIKE

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the firm’s stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $72.29, for a total transaction of $7,951,900.00. Following the transaction, the chairman 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.80% of the company’s stock.

Analyst Upgrades and Downgrades

NKE has been the topic of a number of recent analyst reports. Truist Financial reissued a “buy” rating and issued a $85.00 price objective on shares of NIKE in a research note on Wednesday, October 1st. Sanford C. Bernstein reissued a “buy” rating and issued a $90.00 price objective on shares of NIKE in a research note on Wednesday, October 1st. Evercore ISI reduced their price objective on NIKE from $97.00 to $75.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 24th. Jefferies Financial Group reissued a “buy” rating and issued a $115.00 price objective on shares of NIKE in a research note on Monday, September 29th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of NIKE in a research note on Saturday, September 27th. Three analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $81.57.

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.