Camelot Portfolios LLC Trims Position in NIKE, Inc. $NKE

Camelot Portfolios LLC reduced its position in shares of NIKE, Inc. (NYSE:NKE) by 5.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,942 shares of the footwear maker’s stock after selling 543 shares during the period. Camelot Portfolios LLC’s holdings in NIKE were worth $706,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Stone House Investment Management LLC purchased a new stake in NIKE in the 1st quarter valued at about $25,000. Saudi Central Bank acquired a new stake in NIKE in the 1st quarter valued at approximately $30,000. Matrix Trust Co boosted its position in shares of NIKE by 53.1% during the second quarter. Matrix Trust Co now owns 441 shares of the footwear maker’s stock worth $31,000 after buying an additional 153 shares during the period. Opal Wealth Advisors LLC purchased a new position in NIKE during the 2nd quarter valued at about $35,000. Finally, Roxbury Financial LLC increased its stake in NIKE by 52.1% during the first quarter. Roxbury Financial LLC now owns 587 shares of the footwear maker’s stock worth $37,000 after purchasing an additional 201 shares during the period. Institutional investors and hedge funds own 64.25% of the company’s stock.

Insider Buying and Selling at NIKE

In related news, Chairman Mark G. Parker sold 110,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $72.29, for a total transaction of $7,951,900.00. Following the sale, the chairman owned 842,361 shares in the company, valued at approximately $60,894,276.69. This trade represents a 11.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.80% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on NKE shares. Wall Street Zen raised shares of NIKE from a “sell” rating to a “hold” rating in a research note on Saturday, September 6th. Piper Sandler increased their price target on NIKE from $70.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, June 27th. UBS Group set a $71.00 price objective on shares of NIKE and gave the company a “neutral” rating in a report on Friday, September 19th. Argus upgraded shares of NIKE to a “buy” rating in a research note on Sunday, July 6th. Finally, Hsbc Global Res raised shares of NIKE from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 27th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $79.62.

NIKE Stock Up 0.1%

Shares of NYSE NKE opened at $69.31 on Friday. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $90.26. The company has a quick ratio of 1.50, a current ratio of 2.21 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $102.36 billion, a price-to-earnings ratio of 32.09, a price-to-earnings-growth ratio of 2.52 and a beta of 1.24. The firm has a 50-day moving average price of $74.99 and a 200 day moving average price of $67.30.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, June 26th. The footwear maker reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.02. NIKE had a return on equity of 23.33% and a net margin of 6.95%.The firm 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 posted $0.99 EPS. NIKE’s quarterly revenue was down 11.9% on a year-over-year basis. Equities research analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

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 given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Tuesday, September 2nd. NIKE’s dividend payout ratio is currently 74.07%.

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.