NIKE, Inc. $NKE Stake Reduced by Baker Ellis Asset Management LLC

Baker Ellis Asset Management LLC reduced its stake in shares of NIKE, Inc. (NYSE:NKE) by 11.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,597 shares of the footwear maker’s stock after selling 1,355 shares during the quarter. Baker Ellis Asset Management LLC’s holdings in NIKE were worth $753,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the business. Advance Capital Management Inc. boosted its position in NIKE by 63.5% during the 2nd quarter. Advance Capital Management Inc. now owns 5,599 shares of the footwear maker’s stock worth $398,000 after acquiring an additional 2,175 shares during the period. Martin Capital Partners LLC boosted its position in NIKE by 229.3% during the 2nd quarter. Martin Capital Partners LLC now owns 49,827 shares of the footwear maker’s stock worth $3,540,000 after acquiring an additional 34,694 shares during the period. Webster Bank N. A. lifted its holdings in shares of NIKE by 19.0% in the second quarter. Webster Bank N. A. now owns 1,568 shares of the footwear maker’s stock valued at $111,000 after buying an additional 250 shares during the period. Apella Capital LLC lifted its holdings in shares of NIKE by 16.8% in the second quarter. Apella Capital LLC now owns 5,127 shares of the footwear maker’s stock valued at $392,000 after buying an additional 737 shares during the period. Finally, Boltwood Capital Management acquired a new stake in shares of NIKE in the second quarter valued at $223,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Stock Down 1.6%

NKE opened at $73.12 on Monday. NIKE, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $90.62. The business has a 50-day moving average of $75.40 and a 200-day moving average of $67.63. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.21 and a quick ratio of 1.50. The company has a market capitalization of $107.98 billion, a PE ratio of 33.85, a price-to-earnings-growth ratio of 2.65 and a beta of 1.24.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.02. NIKE had a return on equity of 23.33% and a net margin of 6.95%.The company had revenue of $11.10 billion during the quarter, compared to the consensus estimate of $10.69 billion. During the same period last year, the business earned $0.99 EPS. The business’s quarterly revenue was down 11.9% on a year-over-year basis. Equities research analysts forecast that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.2%. NIKE’s dividend payout ratio is currently 74.07%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on NKE shares. TD Cowen upgraded NIKE from a “hold” rating to a “buy” rating and upped their price objective for the company from $62.00 to $85.00 in a report on Wednesday, September 10th. Barclays upped their target price on NIKE from $53.00 to $64.00 and gave the company an “equal weight” rating in a report on Friday, June 27th. Piper Sandler upped their target price on NIKE from $70.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, June 27th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of NIKE in a report on Monday, August 18th. Finally, Needham & Company LLC increased their price objective on NIKE from $66.00 to $78.00 and gave the stock a “buy” rating in a research note on Friday, June 27th. Three research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $78.67.

Insider Activity at NIKE

In other news, Chairman Mark G. Parker sold 110,000 shares of the stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $72.29, for a total transaction of $7,951,900.00. Following the transaction, the chairman owned 842,361 shares of the company’s stock, valued at approximately $60,894,276.69. This represents a 11.55% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.80% of the company’s stock.

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.