Cwm LLC Sells 51,192 Shares of NIKE, Inc. $NKE

Cwm LLC trimmed its position in NIKE, Inc. (NYSE:NKE) by 59.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 35,636 shares of the footwear maker’s stock after selling 51,192 shares during the period. Cwm LLC’s holdings in NIKE were worth $2,532,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Caldwell Sutter Capital Inc. grew its stake in NIKE by 6.3% in the second quarter. Caldwell Sutter Capital Inc. now owns 2,390 shares of the footwear maker’s stock worth $170,000 after purchasing an additional 142 shares during the period. Westmount Partners LLC grew its stake in NIKE by 2.9% in the second quarter. Westmount Partners LLC now owns 5,165 shares of the footwear maker’s stock worth $367,000 after purchasing an additional 146 shares during the period. HB Wealth Management LLC grew its stake in NIKE by 0.3% in the second quarter. HB Wealth Management LLC now owns 52,012 shares of the footwear maker’s stock worth $3,695,000 after purchasing an additional 147 shares during the period. Matrix Trust Co grew its stake in NIKE by 53.1% in the second quarter. Matrix Trust Co now owns 441 shares of the footwear maker’s stock worth $31,000 after purchasing an additional 153 shares during the period. Finally, Summit Financial Strategies Inc. grew its stake in NIKE by 3.8% in the second quarter. Summit Financial Strategies Inc. now owns 4,270 shares of the footwear maker’s stock worth $303,000 after purchasing an additional 155 shares during the period. 64.25% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at NIKE

In other NIKE news, EVP Treasure Heinle sold 4,300 shares of the stock in a transaction dated Monday, October 6th. The stock was sold at an average price of $71.27, for a total value of $306,461.00. Following the transaction, the executive vice president owned 29,396 shares of the company’s stock, valued at approximately $2,095,052.92. This represents a 12.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Mark G. Parker sold 86,078 shares of the stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $75.93, for a total value of $6,535,902.54. Following the completion of the transaction, the chairman directly owned 744,988 shares in the company, valued at approximately $56,566,938.84. This represents a 10.36% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.80% of the company’s stock.

NIKE Trading Up 0.9%

NIKE stock opened at $67.46 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.19 and a quick ratio of 1.45. NIKE, Inc. has a one year low of $52.28 and a one year high of $83.95. The stock has a market capitalization of $99.72 billion, a PE ratio of 34.59, a price-to-earnings-growth ratio of 2.48 and a beta of 1.29. The business’s fifty day moving average is $73.10 and its 200 day moving average is $67.40.

NIKE (NYSE:NKE) last released its quarterly earnings data on Tuesday, September 30th. The footwear maker reported $0.49 EPS for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $10.96 billion. During the same period last year, the firm posted $0.70 earnings per share. NIKE’s revenue was up 1.0% compared to the same quarter last year. On average, sell-side analysts predict that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.4%. NIKE’s dividend payout ratio (DPR) is 82.05%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. The Goldman Sachs Group set a $85.00 target price on NIKE and gave the stock a “buy” rating in a research note on Thursday, September 25th. Bank of America increased their target price on NIKE from $80.00 to $84.00 and gave the stock a “buy” rating in a research note on Friday, June 27th. Cowen raised NIKE from a “hold” rating to a “buy” rating in a research note on Wednesday, September 10th. HSBC raised NIKE from a “hold” rating to a “buy” rating and set a $80.00 target price on the stock in a research note on Friday, June 27th. Finally, Piper Sandler set a $84.00 target price on NIKE and gave the stock an “overweight” rating in a research note on Wednesday, October 1st. Three investment analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, NIKE presently has an average rating of “Moderate Buy” and an average price target of $82.21.

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.