Fifth Third Wealth Advisors LLC Lowers Holdings in NIKE, Inc. $NKE

Fifth Third Wealth Advisors LLC trimmed its holdings in NIKE, Inc. (NYSE:NKE) by 1.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 24,379 shares of the footwear maker’s stock after selling 391 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in NIKE were worth $1,732,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in NKE. Stone House Investment Management LLC purchased a new stake in shares of NIKE during the 1st quarter worth about $25,000. Mascoma Wealth Management LLC purchased a new stake in shares of NIKE during the 2nd quarter worth about $26,000. Halbert Hargrove Global Advisors LLC boosted its stake in shares of NIKE by 952.6% during the 2nd quarter. Halbert Hargrove Global Advisors LLC now owns 400 shares of the footwear maker’s stock worth $28,000 after acquiring an additional 362 shares in the last quarter. Saudi Central Bank purchased a new stake in shares of NIKE during the 1st quarter worth about $30,000. Finally, Matrix Trust Co boosted its stake in shares of NIKE by 53.1% during the 2nd quarter. Matrix Trust Co now owns 441 shares of the footwear maker’s stock worth $31,000 after acquiring an additional 153 shares in the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

NIKE Stock Down 4.1%

NKE stock opened at $65.25 on Friday. The firm has a 50-day moving average of $73.80 and a two-hundred day moving average of $67.29. The company has a market cap of $96.45 billion, a price-to-earnings ratio of 33.46, a PEG ratio of 2.38 and a beta of 1.29. The company has a current ratio of 2.19, a quick ratio of 1.45 and a debt-to-equity ratio of 0.59. NIKE, Inc. has a 12 month low of $52.28 and a 12 month high of $84.76.

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

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend was Tuesday, September 2nd. NIKE’s dividend payout ratio (DPR) is currently 82.05%.

Insider Activity at NIKE

In other NIKE news, EVP Treasure Heinle sold 4,300 shares of the firm’s stock in a transaction that occurred on Monday, October 6th. The shares were sold at an average price of $71.27, for a total value of $306,461.00. Following the completion of the transaction, the executive vice president owned 29,396 shares of the company’s stock, valued at $2,095,052.92. This trade represents a 12.76% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, 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 completion of the transaction, the chairman directly owned 842,361 shares of the company’s stock, valued at $60,894,276.69. This represents a 11.55% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 200,378 shares of company stock valued at $14,794,264 in the last three months. 0.80% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

NKE has been the topic of several recent analyst reports. Zacks Research raised shares of NIKE from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 26th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $115.00 price target on shares of NIKE in a research note on Monday, September 29th. Argus raised shares of NIKE to a “buy” rating in a research note on Sunday, July 6th. Truist Financial reaffirmed a “buy” rating and issued a $85.00 price target on shares of NIKE in a research note on Wednesday, October 1st. Finally, Evercore ISI decreased their price target on shares of NIKE from $97.00 to $75.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 24th. Three research analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, NIKE currently has an average rating of “Moderate Buy” and an average target price of $81.57.

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.