NIKE, Inc. $NKE Shares Sold by 1900 Wealth Management LLC

1900 Wealth Management LLC reduced its holdings in NIKE, Inc. (NYSE:NKE) by 9.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,595 shares of the footwear maker’s stock after selling 820 shares during the quarter. 1900 Wealth Management LLC’s holdings in NIKE were worth $540,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in NKE. Goldman Sachs Group Inc. increased its stake in NIKE by 344.2% in the first quarter. Goldman Sachs Group Inc. now owns 26,698,835 shares of the footwear maker’s stock valued at $1,694,842,000 after purchasing an additional 20,688,013 shares during the last quarter. Wellington Management Group LLP increased its stake in NIKE by 24.9% in the first quarter. Wellington Management Group LLP now owns 45,383,916 shares of the footwear maker’s stock valued at $2,880,971,000 after purchasing an additional 9,043,180 shares during the last quarter. Jennison Associates LLC acquired a new position in NIKE in the first quarter valued at $509,051,000. Nuveen LLC acquired a new position in NIKE in the first quarter valued at $502,285,000. Finally, Vanguard Group Inc. increased its stake in NIKE by 4.6% in the first quarter. Vanguard Group Inc. now owns 113,151,080 shares of the footwear maker’s stock valued at $7,182,831,000 after purchasing an additional 4,957,494 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on NKE shares. Telsey Advisory Group reissued a “market perform” rating and set a $75.00 price target on shares of NIKE in a research report on Wednesday. Truist Financial reissued a “buy” rating and set a $85.00 price target on shares of NIKE in a research report on Wednesday. DZ Bank raised NIKE from a “hold” rating to a “buy” rating in a research report on Wednesday. Piper Sandler set a $84.00 price target on NIKE and gave the company an “overweight” rating in a research report on Wednesday. Finally, KeyCorp set a $90.00 price target on NIKE and gave the company an “overweight” rating in a research report on Thursday. Four analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $81.57.

Insider Buying and Selling

In related 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 value of $7,951,900.00. Following the completion of 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.80% of the company’s stock.

NIKE Price Performance

Shares of NYSE NKE opened at $74.59 on Friday. NIKE, Inc. has a 1-year low of $52.28 and a 1-year high of $84.76. The business has a 50-day moving average of $74.71 and a 200-day moving average of $67.32. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.19 and a quick ratio of 1.50. The company has a market capitalization of $110.16 billion, a price-to-earnings ratio of 38.25, a PEG ratio of 2.79 and a beta of 1.29.

NIKE (NYSE:NKE) last issued its earnings results on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.22. NIKE had a return on equity of 21.16% and a net margin of 6.23%.The company had revenue of $11.72 billion during the quarter, compared to the consensus estimate of $10.96 billion. During the same quarter in the prior year, the business earned $0.70 earnings per share. The company’s revenue was up 1.0% compared to the same quarter last year. On average, equities analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd were issued a $0.40 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.1%. NIKE’s dividend payout ratio is currently 82.05%.

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.