NIKE, Inc. $NKE Shares Sold by US Bancorp DE

US Bancorp DE lessened its position in shares of NIKE, Inc. (NYSE:NKE) by 5.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 826,937 shares of the footwear maker’s stock after selling 50,540 shares during the quarter. US Bancorp DE’s holdings in NIKE were worth $58,746,000 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 NKE. Stone House Investment Management LLC acquired a new stake in NIKE during the first quarter valued at $25,000. Mascoma Wealth Management LLC acquired a new stake in NIKE during the second quarter valued at $26,000. Halbert Hargrove Global Advisors LLC grew its position in NIKE by 952.6% during the second quarter. Halbert Hargrove Global Advisors LLC now owns 400 shares of the footwear maker’s stock valued at $28,000 after buying an additional 362 shares during the period. Saudi Central Bank acquired a new stake in NIKE during the first quarter valued at $30,000. Finally, Matrix Trust Co grew its position in NIKE by 53.1% during the second 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 period. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Stock Performance

NYSE:NKE opened at $68.09 on Friday. The company’s 50-day moving average price is $73.99 and its 200-day moving average price is $67.29. The company has a current ratio of 2.19, a quick ratio of 1.45 and a debt-to-equity ratio of 0.59. The company has a market cap of $100.56 billion, a P/E ratio of 34.92, a P/E/G ratio of 2.52 and a beta of 1.29. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $84.76.

NIKE (NYSE:NKE) last posted 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. The firm had revenue of $11.72 billion for 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 company’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same period last year, the firm posted $0.70 earnings per share. On average, sell-side analysts forecast 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. Stockholders of record on Tuesday, September 2nd were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend was Tuesday, September 2nd. NIKE’s dividend payout ratio (DPR) is currently 82.05%.

Insider Activity

In other NIKE news, EVP Treasure Heinle sold 4,300 shares of NIKE stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $71.27, for a total transaction of $306,461.00. Following the transaction, the executive vice president directly owned 29,396 shares of the company’s stock, valued at $2,095,052.92. The trade was a 12.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $72.29, for a total transaction of $7,951,900.00. Following the transaction, the chairman directly owned 842,361 shares in the company, valued at $60,894,276.69. This trade represents a 11.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 200,378 shares of company stock worth $14,794,264. Insiders own 0.80% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Stifel Nicolaus set a $68.00 price target on shares of NIKE and gave the company a “hold” rating in a research report on Wednesday, October 1st. Royal Bank Of Canada raised shares of NIKE from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $76.00 to $90.00 in a report on Thursday, September 18th. Sanford C. Bernstein reaffirmed a “buy” rating and set a $90.00 price objective on shares of NIKE in a report on Wednesday, October 1st. Truist Financial reaffirmed a “buy” rating and set a $85.00 price objective on shares of NIKE in a report on Wednesday, October 1st. Finally, Barclays set a $70.00 price objective on shares of NIKE and gave the company a “positive” rating in a report on Wednesday, October 1st. Three investment analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, NIKE 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.