Terra Alpha Investments LLC Reduces Stock Position in NIKE, Inc. $NKE

Terra Alpha Investments LLC cut its stake in NIKE, Inc. (NYSE:NKE) by 1.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 25,215 shares of the footwear maker’s stock after selling 382 shares during the period. NIKE makes up about 1.9% of Terra Alpha Investments LLC’s holdings, making the stock its 22nd largest holding. Terra Alpha Investments LLC’s holdings in NIKE were worth $1,791,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Spire Wealth Management raised its position in shares of NIKE by 4.4% during the 1st quarter. Spire Wealth Management now owns 9,872 shares of the footwear maker’s stock valued at $627,000 after buying an additional 416 shares during the period. Bank Julius Baer & Co. Ltd Zurich raised its position in shares of NIKE by 0.6% during the 1st 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 buying an additional 5,601 shares during the period. Clal Insurance Enterprises Holdings Ltd purchased a new stake in shares of NIKE during the 1st quarter valued at approximately $25,963,000. BROOKFIELD Corp ON raised its position in shares of NIKE by 36.2% during the 1st quarter. BROOKFIELD Corp ON now owns 658,598 shares of the footwear maker’s stock valued at $41,808,000 after buying an additional 175,000 shares during the period. Finally, Cadence Bank raised its position in shares of NIKE by 10.0% during the 1st quarter. Cadence Bank now owns 83,002 shares of the footwear maker’s stock valued at $5,269,000 after buying an additional 7,574 shares during the period. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Stock Performance

NYSE:NKE opened at $68.39 on Wednesday. The company has a fifty day simple moving average of $72.84 and a two-hundred day simple moving average of $67.56. The company has a market cap of $101.09 billion, a price-to-earnings ratio of 35.07, a price-to-earnings-growth ratio of 2.49 and a beta of 1.29. 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 52 week low of $52.28 and a 52 week high of $82.44.

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

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd were paid 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 dividend yield of 2.3%. NIKE’s payout ratio is presently 82.05%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on NKE shares. The Goldman Sachs Group set a $85.00 price target on shares of NIKE and gave the company a “buy” rating in a research report on Thursday, September 25th. Citigroup raised NIKE from a “neutral” rating to a “positive” rating in a research report on Friday, September 19th. Piper Sandler set a $84.00 target price on NIKE and gave the company an “overweight” rating in a research report on Wednesday, October 1st. Stifel Nicolaus set a $68.00 target price on NIKE and gave the company a “hold” rating in a research report on Wednesday, October 1st. Finally, Sanford C. Bernstein reissued a “buy” rating and issued a $90.00 target price on shares of NIKE in a research report on Monday, October 13th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $82.21.

Insiders Place Their Bets

In related news, Chairman Mark G. Parker sold 86,078 shares of the business’s 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 transaction, the chairman owned 744,988 shares in the company, valued at approximately $56,566,938.84. The trade was a 10.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Treasure Heinle sold 4,300 shares of the business’s stock in a transaction on Monday, October 6th. The stock was sold at an average price of $71.27, for a total transaction of $306,461.00. Following the transaction, the executive vice president owned 29,396 shares of the company’s stock, valued at approximately $2,095,052.92. The trade was a 12.76% decrease in their position. The disclosure for this sale can be found here. 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.