Topsail Wealth Management LLC Sells 319 Shares of NIKE, Inc. $NKE

Topsail Wealth Management LLC trimmed its stake in shares of NIKE, Inc. (NYSE:NKE) by 3.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,248 shares of the footwear maker’s stock after selling 319 shares during the quarter. Topsail Wealth Management LLC’s holdings in NIKE were worth $661,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Spire Wealth Management grew its position in NIKE by 4.4% during the 1st quarter. Spire Wealth Management now owns 9,872 shares of the footwear maker’s stock worth $627,000 after acquiring an additional 416 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich grew its position in NIKE by 0.6% during the 1st quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,008,340 shares of the footwear maker’s stock worth $69,932,000 after acquiring an additional 5,601 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd bought a new position in NIKE during the 1st quarter worth approximately $25,963,000. BROOKFIELD Corp ON grew its position in NIKE by 36.2% during the 1st quarter. BROOKFIELD Corp ON now owns 658,598 shares of the footwear maker’s stock worth $41,808,000 after acquiring an additional 175,000 shares during the last quarter. Finally, Cadence Bank grew its position in NIKE by 10.0% during the 1st quarter. Cadence Bank now owns 83,002 shares of the footwear maker’s stock worth $5,269,000 after acquiring an additional 7,574 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on NKE shares. DZ Bank upgraded NIKE from a “hold” rating to a “buy” rating in a research report on Wednesday, October 1st. 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. Wall Street Zen upgraded NIKE from a “sell” rating to a “hold” rating in a research report on Saturday, September 6th. Piper Sandler set a $84.00 price objective on NIKE and gave the stock an “overweight” rating in a research report on Wednesday, October 1st. Finally, Truist Financial reiterated a “buy” rating and issued a $85.00 price objective on shares of NIKE in a research report on Wednesday, October 1st. Three equities research 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 stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $82.21.

Insiders Place Their Bets

In other NIKE news, EVP Treasure Heinle sold 4,300 shares of NIKE stock in a transaction on Monday, October 6th. The stock was sold at an average price of $71.27, for a total transaction of $306,461.00. Following the completion of the transaction, the executive vice president owned 29,396 shares in the company, valued at approximately $2,095,052.92. The trade was a 12.76% 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. Also, Chairman Mark G. Parker sold 86,078 shares of NIKE stock in a transaction on 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 transaction, the chairman owned 744,988 shares of the company’s stock, valued at $56,566,938.84. The trade was a 10.36% decrease in their position. The disclosure for this sale can be found here. 0.80% of the stock is currently owned by insiders.

NIKE Trading Down 0.8%

NKE opened at $69.15 on Friday. The stock has a market cap of $102.22 billion, a PE ratio of 35.46, a PEG ratio of 2.55 and a beta of 1.29. 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 business has a 50 day moving average of $72.38 and a 200-day moving average of $67.88. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $82.44.

NIKE (NYSE:NKE) last released its earnings results on Tuesday, September 30th. The footwear maker reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.22. The company had revenue of $11.72 billion during the quarter, compared to analysts’ expectations of $10.96 billion. NIKE had a return on equity of 21.16% and a net margin of 6.23%.The firm’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.70 EPS. Equities research analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders 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 yield of 2.3%. NIKE’s payout ratio is presently 82.05%.

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.