GFS Advisors LLC Sells 2,605 Shares of NIKE, Inc. $NKE

GFS Advisors LLC decreased its position in shares of NIKE, Inc. (NYSE:NKE) by 1.5% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 166,088 shares of the footwear maker’s stock after selling 2,605 shares during the quarter. NIKE makes up 1.6% of GFS Advisors LLC’s holdings, making the stock its 20th largest holding. GFS Advisors LLC’s holdings in NIKE were worth $11,799,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Spire Wealth Management grew its stake in NIKE by 4.4% during the 1st quarter. Spire Wealth Management now owns 9,872 shares of the footwear maker’s stock worth $627,000 after buying an additional 416 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich grew its position in shares of NIKE by 0.6% in the first quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,008,340 shares of the footwear maker’s stock valued at $69,932,000 after purchasing an additional 5,601 shares during the period. Clal Insurance Enterprises Holdings Ltd purchased a new position in shares of NIKE in the first quarter worth about $25,963,000. BROOKFIELD Corp ON lifted its stake in shares of NIKE by 36.2% in the first quarter. BROOKFIELD Corp ON now owns 658,598 shares of the footwear maker’s stock worth $41,808,000 after buying an additional 175,000 shares in the last quarter. Finally, Cadence Bank raised its stake in NIKE by 10.0% during the first quarter. Cadence Bank now owns 83,002 shares of the footwear maker’s stock worth $5,269,000 after purchasing an additional 7,574 shares during the period. 64.25% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other NIKE news, EVP Treasure Heinle sold 4,300 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $2,095,052.92. This represents a 12.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Mark G. Parker sold 110,000 shares of the company’s stock in a transaction dated 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 directly 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 200,378 shares of company stock worth $14,794,264. Corporate insiders own 0.80% of the company’s stock.

NIKE Stock Performance

Shares of NIKE stock opened at $65.25 on Friday. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $84.76. The business has a 50 day moving average price of $73.80 and a 200-day moving average price of $67.29. The company has a quick ratio of 1.45, a current ratio of 2.19 and a debt-to-equity ratio of 0.59. The company has a market cap of $96.45 billion, a PE ratio of 33.46, a price-to-earnings-growth ratio of 2.38 and a beta of 1.29.

NIKE (NYSE:NKE) last released its quarterly earnings results on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.22. NIKE had a return on equity of 21.16% and a net margin of 6.23%.The business had revenue of $11.72 billion for the quarter, compared to the consensus estimate of $10.96 billion. During the same quarter last year, the business posted $0.70 earnings per share. The company’s revenue for the quarter was up 1.0% on a year-over-year basis. Equities analysts anticipate that NIKE, Inc. will post 2.05 earnings per share 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 dividend yield of 2.5%. NIKE’s dividend payout ratio (DPR) is presently 82.05%.

Analyst Upgrades and Downgrades

NKE has been the subject of several analyst reports. Barclays set a $70.00 price target on shares of NIKE and gave the stock a “positive” rating in a report on Wednesday, October 1st. Bank of America increased their price objective on shares of NIKE from $80.00 to $84.00 and gave the stock a “buy” rating in a report on Friday, June 27th. Sanford C. Bernstein reaffirmed a “buy” rating and issued a $90.00 price objective on shares of NIKE in a report on Wednesday, October 1st. UBS Group set a $71.00 price target on NIKE and gave the stock a “neutral” rating in a research note on Friday, September 19th. Finally, Truist Financial reiterated a “buy” rating and set a $85.00 price target on shares of NIKE in a report on Wednesday, October 1st. Three analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, NIKE has a consensus rating of “Moderate Buy” and an average price target of $81.57.

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.