Davis R M Inc. Sells 2,267 Shares of NIKE, Inc. (NYSE:NKE)

Davis R M Inc. trimmed its position in NIKE, Inc. (NYSE:NKE) by 2.1% during the second quarter, HoldingsChannel.com reports. The fund owned 103,800 shares of the footwear maker’s stock after selling 2,267 shares during the period. Davis R M Inc.’s holdings in NIKE were worth $11,456,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. America First Investment Advisors LLC acquired a new position in shares of NIKE during the 1st quarter worth about $27,000. Marquette Asset Management LLC raised its position in shares of NIKE by 201.3% in the second quarter. Marquette Asset Management LLC now owns 241 shares of the footwear maker’s stock valued at $27,000 after purchasing an additional 161 shares during the period. Tucker Asset Management LLC acquired a new stake in NIKE during the first quarter worth approximately $29,000. Horizon Bancorp Inc. IN bought a new position in NIKE during the 2nd quarter worth $29,000. Finally, Financial Freedom LLC acquired a new stake in NIKE in the 4th quarter worth about $29,000. 63.42% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Robert Holmes Swan acquired 13,072 shares of NIKE stock in a transaction dated Monday, October 2nd. The shares were purchased at an average price of $96.13 per share, for a total transaction of $1,256,611.36. Following the completion of the transaction, the director now directly owns 18,005 shares in the company, valued at approximately $1,730,820.65. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other NIKE news, Chairman Mark G. Parker sold 58,091 shares of the company’s stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $99.60, for a total transaction of $5,785,863.60. Following the sale, the chairman now directly owns 1,255,600 shares in the company, valued at $125,057,760. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Robert Holmes Swan purchased 13,072 shares of the stock in a transaction that occurred on Monday, October 2nd. The stock was bought at an average price of $96.13 per share, with a total value of $1,256,611.36. Following the completion of the transaction, the director now owns 18,005 shares of the company’s stock, valued at $1,730,820.65. The disclosure for this purchase can be found here. 0.50% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on NKE. TheStreet downgraded NIKE from a “b-” rating to a “c+” rating in a research report on Tuesday, September 5th. Guggenheim restated a “buy” rating and issued a $135.00 price target on shares of NIKE in a research report on Friday, September 22nd. Truist Financial started coverage on shares of NIKE in a research report on Friday. They set a “hold” rating and a $108.00 price objective for the company. BNP Paribas lowered shares of NIKE from a “neutral” rating to an “underperform” rating in a report on Tuesday, July 25th. Finally, Stifel Nicolaus reduced their price target on shares of NIKE from $143.00 to $135.00 and set a “buy” rating on the stock in a research report on Monday, August 28th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty-two have issued a buy rating to the company. Based on data from MarketBeat.com, NIKE currently has a consensus rating of “Moderate Buy” and an average price target of $122.03.

NIKE Trading Up 0.3 %

NYSE:NKE opened at $106.32 on Tuesday. The company has a 50 day simple moving average of $99.94 and a two-hundred day simple moving average of $105.52. The company has a market cap of $161.81 billion, a PE ratio of 32.81, a price-to-earnings-growth ratio of 1.79 and a beta of 1.09. The company has a current ratio of 2.87, a quick ratio of 1.84 and a debt-to-equity ratio of 0.64. NIKE, Inc. has a 12 month low of $88.66 and a 12 month high of $131.31.

NIKE (NYSE:NKE) last announced its earnings results on Thursday, September 28th. The footwear maker reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.20. NIKE had a return on equity of 34.97% and a net margin of 9.82%. The company had revenue of $12.90 billion for the quarter, compared to analysts’ expectations of $13 billion. During the same period last year, the firm earned $0.93 EPS. NIKE’s revenue for the quarter was up 1.6% compared to the same quarter last year. Research analysts forecast that NIKE, Inc. will post 3.74 earnings per share for the current year.

NIKE Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Monday, December 4th will be paid a dividend of $0.37 per share. This is a boost from NIKE’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend is Friday, December 1st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.39%. NIKE’s payout ratio is 41.98%.

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.