NIKE, Inc. $NKE Shares Sold by Saybrook Capital NC

Saybrook Capital NC decreased its stake in NIKE, Inc. (NYSE:NKE) by 14.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 168,578 shares of the footwear maker’s stock after selling 28,089 shares during the period. NIKE accounts for 3.4% of Saybrook Capital NC’s investment portfolio, making the stock its 10th largest holding. Saybrook Capital NC’s holdings in NIKE were worth $11,976,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Spire Wealth Management boosted its holdings in shares of NIKE by 4.4% in 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 in the last quarter. Bank Julius Baer & Co. Ltd Zurich raised its position in NIKE by 0.6% in 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 purchasing an additional 5,601 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd purchased a new stake in NIKE in the 1st quarter valued at $25,963,000. BROOKFIELD Corp ON raised its position in NIKE by 36.2% in the 1st quarter. BROOKFIELD Corp ON now owns 658,598 shares of the footwear maker’s stock valued at $41,808,000 after purchasing an additional 175,000 shares during the last quarter. Finally, Cadence Bank raised its position in NIKE by 10.0% in the 1st quarter. Cadence Bank now owns 83,002 shares of the footwear maker’s stock valued at $5,269,000 after purchasing an additional 7,574 shares during the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on NKE shares. Weiss Ratings reiterated a “hold (c-)” rating on shares of NIKE in a research report on Saturday. UBS Group set a $71.00 price target on shares of NIKE and gave the company a “neutral” rating in a research report on Friday, September 19th. KeyCorp set a $90.00 price target on shares of NIKE and gave the company an “overweight” rating in a research report on Thursday, October 2nd. Truist Financial reiterated a “buy” rating and issued a $85.00 price target on shares of NIKE in a research report on Wednesday, October 1st. Finally, BTIG Research assumed coverage on shares of NIKE in a research report on Tuesday, October 14th. They issued a “buy” rating and a $100.00 price target for the company. Three analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $82.21.

Insider Transactions at NIKE

In other news, Chairman Mark G. Parker sold 86,078 shares of the stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $75.93, for a total value of $6,535,902.54. Following the completion of the transaction, the chairman owned 744,988 shares in the company, valued at $56,566,938.84. This trade represents a 10.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Treasure Heinle sold 4,300 shares of the stock in a transaction dated 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 sale, the executive vice president directly owned 29,396 shares in the company, valued at approximately $2,095,052.92. The trade was a 12.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.80% of the company’s stock.

NIKE Stock Performance

Shares of NKE opened at $69.15 on Friday. The company has a 50-day simple moving average of $72.38 and a 200-day simple moving average of $67.88. The company has a quick ratio of 1.45, a current ratio of 2.19 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $102.22 billion, a PE ratio of 35.46, a P/E/G ratio of 2.55 and a beta of 1.29. NIKE, Inc. has a 52-week low of $52.28 and a 52-week high of $82.44.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business’s revenue was up 1.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.70 EPS. 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 declared a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date was Tuesday, September 2nd. NIKE’s dividend payout ratio (DPR) is currently 82.05%.

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.