Milestone Asset Management LLC Sells 9,962 Shares of NIKE, Inc. $NKE

Milestone Asset Management LLC decreased its holdings in NIKE, Inc. (NYSE:NKE) by 38.9% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 15,628 shares of the footwear maker’s stock after selling 9,962 shares during the period. Milestone Asset Management LLC’s holdings in NIKE were worth $1,110,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Stone House Investment Management LLC purchased a new position in shares of NIKE in the first quarter worth about $25,000. Mascoma Wealth Management LLC bought a new stake in NIKE in the second quarter valued at approximately $26,000. Halbert Hargrove Global Advisors LLC grew its holdings in shares of NIKE by 952.6% in the second quarter. Halbert Hargrove Global Advisors LLC now owns 400 shares of the footwear maker’s stock worth $28,000 after purchasing an additional 362 shares during the last quarter. Saudi Central Bank purchased a new position in shares of NIKE in the first quarter worth $30,000. Finally, Matrix Trust Co raised its holdings in NIKE by 53.1% during the 2nd quarter. Matrix Trust Co now owns 441 shares of the footwear maker’s stock valued at $31,000 after buying an additional 153 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Insider Buying and Selling

In other news, EVP Treasure Heinle sold 4,300 shares of the company’s 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 completion of the transaction, the executive vice president owned 29,396 shares of the company’s stock, valued at $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 SEC, which is available at this hyperlink. Also, 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 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.80% of the company’s stock.

NIKE Price Performance

Shares of NYSE:NKE opened at $62.77 on Tuesday. 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 stock has a market capitalization of $92.79 billion, a PE ratio of 32.19, a price-to-earnings-growth ratio of 2.41 and a beta of 1.29. The firm’s 50 day moving average price is $70.97 and its 200-day moving average price is $68.46. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $82.44.

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, topping the consensus estimate of $0.27 by $0.22. NIKE had a net margin of 6.23% and a return on equity of 21.16%. The business had revenue of $11.72 billion for the quarter, compared to the consensus estimate of $10.96 billion. During the same period last year, the firm earned $0.70 earnings per share. The company’s quarterly revenue was up 1.0% on a year-over-year basis. Equities research analysts expect that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd were paid a dividend of $0.40 per share. The ex-dividend date was Tuesday, September 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.5%. NIKE’s payout ratio is 82.05%.

Analysts Set New Price Targets

NKE has been the topic of several recent analyst reports. 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. Needham & Company LLC reiterated a “buy” rating and issued a $78.00 price target on shares of NIKE in a research note on Wednesday, October 1st. Telsey Advisory Group reiterated a “market perform” rating and issued a $75.00 target price on shares of NIKE in a research note on Wednesday, October 1st. Sanford C. Bernstein reissued a “buy” rating and set a $90.00 price target on shares of NIKE in a research report on Monday, October 13th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $115.00 price objective on shares of NIKE in a research report on Monday, September 29th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $82.21.

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.