TFG Advisers LLC Cuts Stake in NIKE, Inc. $NKE

TFG Advisers LLC lowered its position in shares of NIKE, Inc. (NYSE:NKE) by 11.3% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 4,329 shares of the footwear maker’s stock after selling 553 shares during the period. TFG Advisers LLC’s holdings in NIKE were worth $308,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of NIKE by 4.6% during the first quarter. Vanguard Group Inc. now owns 113,151,080 shares of the footwear maker’s stock worth $7,182,831,000 after acquiring an additional 4,957,494 shares during the last quarter. Wellington Management Group LLP grew its holdings in NIKE by 24.9% in the 1st quarter. Wellington Management Group LLP now owns 45,383,916 shares of the footwear maker’s stock valued at $2,880,971,000 after buying an additional 9,043,180 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of NIKE by 344.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 26,698,835 shares of the footwear maker’s stock worth $1,694,842,000 after purchasing an additional 20,688,013 shares during the period. Bank of New York Mellon Corp lifted its stake in NIKE by 3.0% during the 1st quarter. Bank of New York Mellon Corp now owns 20,988,207 shares of the footwear maker’s stock worth $1,332,331,000 after acquiring an additional 620,214 shares in the last quarter. Finally, Flossbach Von Storch SE raised its position in NIKE by 24.0% in the 1st quarter. Flossbach Von Storch SE now owns 10,286,619 shares of the footwear maker’s stock valued at $652,995,000 after purchasing an additional 1,988,547 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. JPMorgan Chase & Co. raised their price target on NIKE from $93.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday. Piper Sandler set a $84.00 price objective on NIKE and gave the stock an “overweight” rating in a report on Wednesday. Morgan Stanley set a $72.00 price objective on NIKE and gave the stock a “positive” rating in a report on Wednesday. Wall Street Zen raised NIKE from a “sell” rating to a “hold” rating in a report on Saturday, September 6th. Finally, The Goldman Sachs Group set a $85.00 target price on NIKE and gave the company a “buy” rating in a research note on Thursday, September 25th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $81.57.

NIKE Trading Up 6.2%

NYSE:NKE opened at $74.04 on Thursday. 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 business’s 50 day moving average is $74.73 and its two-hundred day moving average is $67.31. The company has a market cap of $109.35 billion, a PE ratio of 37.97, a P/E/G ratio of 2.60 and a beta of 1.29. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $85.23.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.22. NIKE had a return on equity of 21.05% and a net margin of 6.23%.The business had revenue of $11.72 billion for the quarter, compared to analysts’ expectations of $10.96 billion. During the same period in the prior year, the firm earned $0.70 EPS. The business’s quarterly revenue was up 1.0% on a year-over-year basis. On average, analysts predict 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. Stockholders of record on Tuesday, September 2nd were paid 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 2.2%. NIKE’s dividend payout ratio (DPR) is currently 74.07%.

Insider Activity

In other news, Chairman Mark G. Parker sold 86,078 shares of the business’s stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $75.93, for a total transaction of $6,535,902.54. Following the sale, the chairman owned 744,988 shares in the company, valued at $56,566,938.84. The trade was a 10.36% 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. 0.80% of the stock is owned by corporate insiders.

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.