LaFleur & Godfrey LLC Sells 5,616 Shares of NIKE, Inc. (NYSE:NKE)

LaFleur & Godfrey LLC cut its position in NIKE, Inc. (NYSE:NKE) by 12.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 39,392 shares of the footwear maker’s stock after selling 5,616 shares during the period. LaFleur & Godfrey LLC’s holdings in NIKE were worth $3,482,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in shares of NIKE by 0.5% during the first quarter. Vanguard Group Inc. now owns 110,044,821 shares of the footwear maker’s stock worth $10,342,012,000 after buying an additional 501,792 shares during the last quarter. Legal & General Group Plc grew its position in shares of NIKE by 5.5% during the 2nd quarter. Legal & General Group Plc now owns 11,049,294 shares of the footwear maker’s stock worth $832,785,000 after buying an additional 571,544 shares during the period. Jennison Associates LLC increased its stake in shares of NIKE by 45.6% in the 1st quarter. Jennison Associates LLC now owns 8,859,580 shares of the footwear maker’s stock valued at $832,623,000 after acquiring an additional 2,775,510 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of NIKE by 0.9% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 6,025,616 shares of the footwear maker’s stock valued at $454,151,000 after acquiring an additional 52,500 shares during the period. Finally, Longview Partners Guernsey LTD bought a new position in NIKE during the 1st quarter worth approximately $533,533,000. Institutional investors own 64.25% of the company’s stock.

Insiders Place Their Bets

In related news, Chairman Mark G. Parker sold 52,487 shares of the firm’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 owns 1,031,226 shares in the company, valued at approximately $80,435,628. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Chairman Mark G. Parker sold 110,000 shares of the stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the sale, the chairman now owns 1,102,090 shares in the company, valued at approximately $80,419,507.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Mark G. Parker sold 52,487 shares of the business’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 trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.50% of the company’s stock.

NIKE Stock Performance

NYSE:NKE traded up $1.27 during mid-day trading on Wednesday, hitting $83.39. 3,383,382 shares of the stock were exchanged, compared to its average volume of 11,697,703. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36. The firm’s 50-day simple moving average is $82.05 and its 200 day simple moving average is $85.41. NIKE, Inc. has a fifty-two week low of $70.75 and a fifty-two week high of $123.39. The stock has a market capitalization of $125.87 billion, a price-to-earnings ratio of 22.18, a price-to-earnings-growth ratio of 1.96 and a beta of 1.02.

NIKE (NYSE:NKE) last announced its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.18. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The company had revenue of $11.59 billion during the quarter, compared to analysts’ expectations of $11.64 billion. During the same quarter in the previous year, the business posted $0.94 earnings per share. NIKE’s quarterly revenue was down 10.4% on a year-over-year basis. As a group, equities analysts anticipate that NIKE, Inc. will post 2.8 EPS for the current fiscal year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd were paid a dividend of $0.37 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $1.48 dividend on an annualized basis and a yield of 1.77%. NIKE’s dividend payout ratio (DPR) is presently 39.68%.

Analysts Set New Price Targets

NKE has been the topic of a number of recent analyst reports. Piper Sandler reissued a “neutral” rating and set a $80.00 price target on shares of NIKE in a research report on Friday, September 20th. Evercore ISI cut their price objective on NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a report on Wednesday, October 2nd. Morgan Stanley increased their target price on NIKE from $79.00 to $82.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 25th. Royal Bank of Canada lowered their price objective on shares of NIKE from $85.00 to $82.00 and set a “sector perform” rating for the company in a research report on Wednesday, October 2nd. Finally, Raymond James reaffirmed a “market perform” rating on shares of NIKE in a research report on Friday, June 28th. Fourteen equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $96.56.

About NIKE

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.