Gleason Group Inc. Cuts Stock Position in NIKE, Inc. $NKE

Gleason Group Inc. cut its holdings in shares of NIKE, Inc. (NYSE:NKE) by 27.1% during the second quarter, Holdings Channel reports. The firm owned 435 shares of the footwear maker’s stock after selling 162 shares during the quarter. Gleason Group Inc.’s holdings in NIKE were worth $31,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of NKE. Brighton Jones LLC increased its stake in NIKE by 388.5% during the fourth quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker’s stock worth $15,316,000 after purchasing an additional 160,980 shares during the period. GAMMA Investing LLC increased its stake in NIKE by 8,726.9% during the first quarter. GAMMA Investing LLC now owns 1,325,272 shares of the footwear maker’s stock worth $84,128,000 after purchasing an additional 1,310,258 shares during the period. Legacy Wealth Asset Management LLC increased its stake in NIKE by 20.7% during the first quarter. Legacy Wealth Asset Management LLC now owns 4,425 shares of the footwear maker’s stock worth $281,000 after purchasing an additional 760 shares during the period. Czech National Bank increased its stake in NIKE by 5.1% during the first quarter. Czech National Bank now owns 271,294 shares of the footwear maker’s stock worth $17,222,000 after purchasing an additional 13,148 shares during the period. Finally, American National Bank & Trust increased its stake in NIKE by 668.9% during the first quarter. American National Bank & Trust now owns 5,751 shares of the footwear maker’s stock worth $365,000 after purchasing an additional 5,003 shares during the period. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

NIKE Stock Performance

Shares of NKE opened at $69.57 on Tuesday. The stock has a 50 day moving average price of $74.90 and a 200 day moving average price of $67.25. The company has a quick ratio of 1.50, a current ratio of 2.21 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $102.75 billion, a price-to-earnings ratio of 32.21, a price-to-earnings-growth ratio of 2.53 and a beta of 1.24. NIKE, Inc. has a 52-week low of $52.28 and a 52-week high of $89.75.

NIKE Dividend Announcement

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

Insiders Place Their Bets

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

Analyst Ratings Changes

A number of analysts have issued reports on the stock. The Goldman Sachs Group set a $85.00 price target on shares of NIKE and gave the stock a “buy” rating in a research note on Thursday. UBS Group set a $71.00 price objective on NIKE and gave the stock a “neutral” rating in a research report on Friday, September 19th. Deutsche Bank Aktiengesellschaft lowered their price objective on NIKE from $77.00 to $71.00 and set a “buy” rating for the company in a research report on Friday, June 20th. Piper Sandler boosted their price objective on NIKE from $70.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, June 27th. Finally, TD Cowen raised NIKE from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $62.00 to $85.00 in a research report on Wednesday, September 10th. Three analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target 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.