J. W. Coons Advisors LLC Sells 400 Shares of NIKE, Inc. (NYSE:NKE)

J. W. Coons Advisors LLC lowered its holdings in NIKE, Inc. (NYSE:NKE) by 1.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 39,815 shares of the footwear maker’s stock after selling 400 shares during the quarter. J. W. Coons Advisors LLC’s holdings in NIKE were worth $3,001,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Cim LLC acquired a new stake in shares of NIKE in the 4th quarter worth about $14,275,000. TKG Advisors LLC bought a new stake in NIKE during the 4th quarter worth approximately $1,012,000. Brown Advisory Inc. raised its stake in shares of NIKE by 4.3% in the fourth quarter. Brown Advisory Inc. now owns 4,668,949 shares of the footwear maker’s stock worth $506,908,000 after purchasing an additional 192,752 shares during the last quarter. Missouri Trust & Investment Co boosted its position in shares of NIKE by 11.3% during the fourth quarter. Missouri Trust & Investment Co now owns 11,492 shares of the footwear maker’s stock valued at $1,248,000 after buying an additional 1,167 shares during the last quarter. Finally, Spartan Planning & Wealth Management purchased a new position in shares of NIKE during the fourth quarter valued at approximately $182,000. Institutional investors own 64.25% of the company’s stock.

Insider Transactions at NIKE

In related news, Chairman Mark G. Parker sold 52,487 shares of NIKE stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the completion of the sale, the chairman now owns 1,031,226 shares of the company’s stock, valued at $80,435,628. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total value of $4,093,986.00. Following the transaction, the chairman now directly owns 1,031,226 shares in the company, valued at $80,435,628. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Robert Holmes Swan bought 2,941 shares of the company’s stock in a transaction on Friday, June 28th. The shares were bought at an average price of $77.02 per share, with a total value of $226,515.82. Following the completion of the transaction, the director now owns 20,946 shares of the company’s stock, valued at $1,613,260.92. The disclosure for this purchase can be found here. Insiders own 0.50% of the company’s stock.

NIKE Stock Performance

NYSE:NKE opened at $83.32 on Friday. The business’s fifty day moving average is $77.91 and its 200 day moving average is $89.49. The firm has a market cap of $124.93 billion, a price-to-earnings ratio of 22.34, a PEG ratio of 2.19 and a beta of 1.01. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.69 and a current ratio of 2.40. NIKE, Inc. has a 52-week low of $70.75 and a 52-week high of $123.39.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.16. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The firm had revenue of $12.60 billion for the quarter, compared to analysts’ expectations of $12.86 billion. During the same period in the prior year, the business posted $0.66 earnings per share. The company’s revenue was down 1.6% on a year-over-year basis. Research analysts predict that NIKE, Inc. will post 3.1 EPS for the current year.

NIKE Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.78%. The ex-dividend date of this dividend is Tuesday, September 3rd. NIKE’s payout ratio is 39.68%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on NKE shares. Evercore ISI cut their price objective on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a report on Friday, June 28th. Robert W. Baird cut their price target on shares of NIKE from $125.00 to $100.00 and set an “outperform” rating on the stock in a report on Friday, June 28th. Jefferies Financial Group reduced their price objective on shares of NIKE from $90.00 to $80.00 in a research report on Friday, July 12th. Truist Financial dropped their target price on shares of NIKE from $99.00 to $81.00 and set a “hold” rating on the stock in a research report on Friday, June 28th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $120.00 price target on shares of NIKE in a research report on Friday, June 28th. Fifteen research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, NIKE has a consensus rating of “Moderate Buy” and a consensus price target of $95.59.

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.