NIKE, Inc. $NKE Shares Sold by Campbell Newman Asset Management Inc.

Campbell Newman Asset Management Inc. trimmed its stake in shares of NIKE, Inc. (NYSE:NKE) by 1.7% in the 2nd quarter, HoldingsChannel reports. The firm owned 13,367 shares of the footwear maker’s stock after selling 236 shares during the period. Campbell Newman Asset Management Inc.’s holdings in NIKE were worth $950,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Summit Financial Strategies Inc. raised its position in NIKE by 3.8% in the 2nd quarter. Summit Financial Strategies Inc. now owns 4,270 shares of the footwear maker’s stock valued at $303,000 after purchasing an additional 155 shares in the last quarter. HB Wealth Management LLC raised its holdings in NIKE by 0.3% in the second quarter. HB Wealth Management LLC now owns 52,012 shares of the footwear maker’s stock valued at $3,695,000 after acquiring an additional 147 shares in the last quarter. Janney Montgomery Scott LLC lifted its stake in NIKE by 10.0% in the second quarter. Janney Montgomery Scott LLC now owns 154,890 shares of the footwear maker’s stock worth $11,003,000 after acquiring an additional 14,126 shares during the last quarter. SWS Partners grew its holdings in NIKE by 31.7% during the 2nd quarter. SWS Partners now owns 35,822 shares of the footwear maker’s stock worth $2,556,000 after acquiring an additional 8,630 shares in the last quarter. Finally, FARMERS & MERCHANTS TRUST Co OF LONG BEACH grew its holdings in NIKE by 3.9% during the 2nd quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 22,141 shares of the footwear maker’s stock worth $1,573,000 after acquiring an additional 835 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Insider Buying and Selling

In other NIKE news, Chairman Mark G. Parker sold 86,078 shares of the stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $75.93, for a total transaction of $6,535,902.54. Following the completion of the sale, the chairman directly owned 744,988 shares of the company’s stock, valued at approximately $56,566,938.84. This trade represents a 10.36% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.80% of the stock is currently owned by corporate insiders.

NIKE Trading Up 0.4%

Shares of NIKE stock opened at $69.57 on Tuesday. NIKE, Inc. has a 1 year low of $52.28 and a 1 year high of $89.75. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.50 and a current ratio of 2.21. The company has a market capitalization of $102.75 billion, a P/E ratio of 32.21, a PEG ratio of 2.53 and a beta of 1.24. The company’s fifty day moving average is $74.90 and its two-hundred day moving average is $67.25.

NIKE Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.3%. The ex-dividend date is Tuesday, September 2nd. NIKE’s payout ratio is 74.07%.

Wall Street Analyst Weigh In

NKE has been the subject of several recent analyst reports. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of NIKE in a research report on Monday, August 18th. Truist Financial decreased their price target on NIKE from $82.00 to $73.00 and set a “buy” rating for the company in a report on Tuesday, June 24th. Zacks Research upgraded NIKE from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 26th. TD Cowen raised NIKE from a “hold” rating to a “buy” rating and raised their target price for the stock from $62.00 to $85.00 in a research report on Wednesday, September 10th. Finally, Citigroup raised NIKE from a “neutral” rating to a “positive” rating in a report on Friday, September 19th. Three investment analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $79.62.

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.