Summit Place Financial Advisors LLC Has $2.21 Million Stake in NIKE, Inc. (NYSE:NKE)

Summit Place Financial Advisors LLC reduced its holdings in shares of NIKE, Inc. (NYSE:NKE) by 5.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 25,040 shares of the footwear maker’s stock after selling 1,500 shares during the period. Summit Place Financial Advisors LLC’s holdings in NIKE were worth $2,214,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Transcendent Capital Group LLC grew its stake in NIKE by 97.6% during the first quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker’s stock worth $38,000 after purchasing an additional 200 shares during the period. VitalStone Financial LLC grew its position in shares of NIKE by 52.6% during the 3rd quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock worth $38,000 after buying an additional 150 shares during the period. Bruce G. Allen Investments LLC increased its stake in shares of NIKE by 272.5% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock valued at $39,000 after acquiring an additional 376 shares in the last quarter. Triad Wealth Partners LLC acquired a new position in shares of NIKE during the 2nd quarter valued at $44,000. Finally, Riverview Trust Co bought a new position in NIKE during the third quarter worth $52,000. 64.25% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on NKE shares. TD Cowen lifted their price target on shares of NIKE from $71.00 to $78.00 and gave the company a “hold” rating in a research note on Wednesday, October 2nd. Piper Sandler reaffirmed a “neutral” rating and set a $80.00 target price on shares of NIKE in a research report on Friday, September 20th. Evercore ISI reduced their price target on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a research report on Wednesday, October 2nd. Bank of America lowered their price objective on shares of NIKE from $104.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, October 2nd. Finally, Royal Bank of Canada reduced their price objective on shares of NIKE from $85.00 to $82.00 and set a “sector perform” rating for the company in a report on Wednesday, October 2nd. Fourteen equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, NIKE has an average rating of “Moderate Buy” and a consensus target price of $96.56.

NIKE Stock Up 0.8 %

NKE opened at $79.46 on Monday. The company’s 50-day moving average price is $82.71 and its two-hundred day moving average price is $84.91. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a twelve month low of $70.75 and a twelve month high of $123.39. The stock has a market cap of $119.93 billion, a price-to-earnings ratio of 21.14, a PEG ratio of 1.95 and a beta of 1.02.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, beating the consensus estimate of $0.52 by $0.18. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The business had revenue of $11.59 billion for the quarter, compared to the consensus estimate of $11.64 billion. During the same quarter in the prior year, the business earned $0.94 earnings per share. NIKE’s revenue for the quarter was down 10.4% on a year-over-year basis. As a group, equities analysts expect that NIKE, Inc. will post 2.78 earnings per share for the current year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.86%. The ex-dividend date was Tuesday, September 3rd. NIKE’s dividend payout ratio (DPR) is currently 39.68%.

Insider Activity at NIKE

In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the stock in a transaction dated 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 completion of the transaction, the chairman now owns 1,031,226 shares in the company, valued at $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 available through this link. 0.50% of the stock is currently owned by company insiders.

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.