NIKE, Inc. (NYSE:NKE) Stock Holdings Trimmed by Wedbush Securities Inc.

Wedbush Securities Inc. reduced its position in NIKE, Inc. (NYSE:NKE) by 6.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 27,001 shares of the footwear maker’s stock after selling 1,832 shares during the quarter. Wedbush Securities Inc.’s holdings in NIKE were worth $2,035,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cim LLC bought a new position in shares of NIKE during the fourth quarter valued at approximately $14,275,000. TKG Advisors LLC bought a new position in shares of NIKE during the fourth quarter valued at approximately $1,012,000. Brown Advisory Inc. grew its holdings in shares of NIKE by 4.3% during the fourth quarter. Brown Advisory Inc. now owns 4,668,949 shares of the footwear maker’s stock valued at $506,908,000 after purchasing an additional 192,752 shares during the last quarter. Missouri Trust & Investment Co grew its holdings 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 purchasing an additional 1,167 shares during the last quarter. Finally, Spartan Planning & Wealth Management bought a new position in shares of NIKE during the fourth quarter valued at approximately $182,000. 64.25% of the stock is owned by institutional investors.

NIKE Price Performance

NKE opened at $79.50 on Tuesday. The stock has a fifty day moving average of $76.99 and a 200-day moving average of $88.38. The firm has a market capitalization of $119.20 billion, a P/E ratio of 21.31, a PEG ratio of 2.11 and a beta of 1.02. NIKE, Inc. has a 12-month low of $70.75 and a 12-month high of $123.39. The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.55.

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

NIKE Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date is Tuesday, September 3rd. NIKE’s dividend payout ratio (DPR) is presently 39.68%.

Insider Transactions at NIKE

In other news, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction 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 of the company’s stock, valued at $80,435,628. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the transaction, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at $80,435,628. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Mark G. Parker sold 110,000 shares of the stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the transaction, the chairman now directly owns 1,102,090 shares in the company, valued at $80,419,507.30. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on NKE shares. Bank of America lowered their target price on NIKE from $113.00 to $104.00 and set a “buy” rating for the company in a report on Friday, June 28th. Oppenheimer reissued an “outperform” rating and issued a $120.00 price objective on shares of NIKE in a report on Friday, June 28th. Piper Sandler reissued a “neutral” rating and issued a $80.00 price objective on shares of NIKE in a report on Friday, August 23rd. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $83.00 price objective (down from $116.00) on shares of NIKE in a report on Friday, June 28th. Finally, Royal Bank of Canada decreased their price objective on NIKE from $100.00 to $75.00 and set a “sector perform” rating for the company in a report on Tuesday, July 2nd. Fourteen analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $95.59.

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.