Bridges Investment Management Inc. Has $2 Million Stake in NIKE, Inc. $NKE

Bridges Investment Management Inc. trimmed its stake in shares of NIKE, Inc. (NYSE:NKE) by 2.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 28,097 shares of the footwear maker’s stock after selling 654 shares during the period. Bridges Investment Management Inc.’s holdings in NIKE were worth $1,996,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Spire Wealth Management lifted 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 purchasing an additional 416 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich lifted its position in shares of NIKE by 0.6% during the first quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,008,340 shares of the footwear maker’s stock worth $69,932,000 after purchasing an additional 5,601 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd acquired a new position in shares of NIKE during the first quarter worth approximately $25,963,000. BROOKFIELD Corp ON lifted its position in shares of NIKE by 36.2% during the first quarter. BROOKFIELD Corp ON now owns 658,598 shares of the footwear maker’s stock worth $41,808,000 after purchasing an additional 175,000 shares in the last quarter. Finally, Cadence Bank lifted its position in shares of NIKE by 10.0% during the first quarter. Cadence Bank now owns 83,002 shares of the footwear maker’s stock worth $5,269,000 after purchasing an additional 7,574 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

NKE has been the topic of a number of research reports. Bank of America upped their target price on shares of NIKE from $80.00 to $84.00 and gave the stock a “buy” rating in a research report on Friday, June 27th. Zacks Research raised shares of NIKE from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 26th. Evercore ISI lowered their target price on shares of NIKE from $97.00 to $75.00 and set an “outperform” rating for the company in a research note on Tuesday, June 24th. JPMorgan Chase & Co. upped their target price on shares of NIKE from $93.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, October 1st. Finally, The Goldman Sachs Group set a $85.00 target price on shares of NIKE and gave the company a “buy” rating in a research note on Thursday, September 25th. Three research analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, NIKE currently has an average rating of “Moderate Buy” and an average target price of $82.21.

Insider Buying and Selling at NIKE

In other news, Chairman Mark G. Parker sold 86,078 shares of the stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $75.93, for a total transaction of $6,535,902.54. Following the completion of the sale, the chairman owned 744,988 shares of the company’s stock, valued at $56,566,938.84. This represents a 10.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Treasure Heinle sold 4,300 shares of the firm’s stock in a transaction on Monday, October 6th. The shares were sold at an average price of $71.27, for a total transaction of $306,461.00. Following the completion of the transaction, the executive vice president directly owned 29,396 shares of the company’s stock, valued at approximately $2,095,052.92. This trade represents a 12.76% decrease in their position. The disclosure for this sale can be found here. 0.80% of the stock is owned by corporate insiders.

NIKE Stock Down 2.4%

Shares of NKE stock opened at $66.82 on Friday. The firm has a fifty day moving average of $73.23 and a 200-day moving average of $67.36. 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 company has a market capitalization of $98.77 billion, a price-to-earnings ratio of 34.27, a P/E/G ratio of 2.52 and a beta of 1.29.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate of $10.96 billion. During the same quarter in the prior year, the firm earned $0.70 earnings per share. The firm’s revenue was up 1.0% compared to the same quarter last year. As a group, equities research analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.4%. NIKE’s dividend payout ratio is currently 82.05%.

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.