Simplicity Wealth LLC Decreases Stake in NIKE, Inc. (NYSE:NKE)

Simplicity Wealth LLC cut its holdings in shares of NIKE, Inc. (NYSE:NKE) by 47.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,255 shares of the footwear maker’s stock after selling 17,383 shares during the period. Simplicity Wealth LLC’s holdings in NIKE were worth $1,702,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of NKE. Annapolis Financial Services LLC grew its stake in shares of NIKE by 440.0% during the 1st quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock valued at $25,000 after purchasing an additional 220 shares during the period. Pineridge Advisors LLC purchased a new position in shares of NIKE in the fourth quarter worth approximately $38,000. Transcendent Capital Group LLC boosted its holdings in shares of NIKE by 97.6% in the first quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker’s stock worth $38,000 after buying an additional 200 shares during the last quarter. Bruce G. Allen Investments LLC grew its position in NIKE by 272.5% during the second quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock valued at $39,000 after buying an additional 376 shares during the period. Finally, Scarborough Advisors LLC bought a new position in NIKE in the fourth quarter worth approximately $42,000. 64.25% of the stock is currently owned by institutional investors.

Insider Buying and Selling at NIKE

In related news, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction on Wednesday, August 14th. The stock was 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. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $72.97, for a total value of $8,026,700.00. Following the completion of the transaction, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at approximately $80,419,507.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Mark G. Parker sold 52,487 shares of the firm’s stock in a transaction that occurred 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 sale, the chairman now directly owns 1,031,226 shares in the company, valued at $80,435,628. The trade was a 0.00 % decrease in their position. 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

A number of brokerages have recently issued reports on NKE. BMO Capital Markets reduced their price objective on NIKE from $118.00 to $100.00 and set an “outperform” rating for the company in a research note on Friday, June 28th. Truist Financial upgraded NIKE from a “hold” rating to a “buy” rating and upped their price target for the stock from $83.00 to $97.00 in a research report on Thursday. Bank of America lowered their price objective on NIKE from $104.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, October 2nd. Wells Fargo & Company increased their target price on shares of NIKE from $86.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of NIKE from $95.00 to $92.00 and set a “buy” rating on the stock in a report on Wednesday, October 2nd. Fourteen analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, NIKE currently has a consensus rating of “Moderate Buy” and a consensus target price of $96.56.

NIKE Stock Performance

NIKE stock opened at $82.15 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58. The firm has a market capitalization of $123.99 billion, a P/E ratio of 22.02, a price-to-earnings-growth ratio of 1.96 and a beta of 1.02. NIKE, Inc. has a 1-year low of $70.75 and a 1-year high of $123.39. The company’s 50-day moving average is $81.66 and its 200 day moving average is $85.64.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.18. The company had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $11.64 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. NIKE’s revenue was down 10.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.94 earnings per share. Research analysts forecast that NIKE, Inc. will post 2.8 EPS for the current year.

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd were issued a dividend of $0.37 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.48 annualized dividend and a dividend yield of 1.80%. NIKE’s dividend payout ratio is presently 39.68%.

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.