NIKE, Inc. $NKE Shares Sold by Diversified Enterprises LLC

Diversified Enterprises LLC cut its holdings in shares of NIKE, Inc. (NYSE:NKE) by 5.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,304 shares of the footwear maker’s stock after selling 246 shares during the quarter. Diversified Enterprises LLC’s holdings in NIKE were worth $306,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Spire Wealth Management increased its stake in shares of NIKE by 4.4% in the first quarter. Spire Wealth Management now owns 9,872 shares of the footwear maker’s stock worth $627,000 after purchasing an additional 416 shares during the period. Bank Julius Baer & Co. Ltd Zurich grew its holdings in shares of NIKE by 0.6% during the first quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,008,340 shares of the footwear maker’s stock valued at $69,932,000 after buying an additional 5,601 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd bought a new stake in NIKE during the 1st quarter worth approximately $25,963,000. BROOKFIELD Corp ON boosted 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 valued at $41,808,000 after buying an additional 175,000 shares during the period. Finally, Olstein Capital Management L.P. grew its stake in shares of NIKE by 42.2% in the first quarter. Olstein Capital Management L.P. now owns 91,000 shares of the footwear maker’s stock worth $5,777,000 after acquiring an additional 27,000 shares during the period. 64.25% of the stock is owned by institutional investors.

NIKE Stock Up 0.1%

Shares of NKE opened at $69.31 on Friday. The firm has a 50 day simple moving average of $74.99 and a two-hundred day simple moving average of $67.30. The company has a market cap of $102.36 billion, a P/E ratio of 32.09, a P/E/G ratio of 2.52 and a beta of 1.24. NIKE, Inc. has a one year low of $52.28 and a one year high of $90.26. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.21 and a quick ratio of 1.50.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, June 26th. The footwear maker reported $0.14 EPS for the quarter, beating the consensus estimate of $0.12 by $0.02. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The firm had revenue of $11.10 billion during the quarter, compared to analyst estimates of $10.69 billion. During the same quarter last year, the business posted $0.99 EPS. The company’s revenue for the quarter was down 11.9% on a year-over-year basis. Research analysts forecast that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

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

Insider Buying and Selling

In other news, Chairman Mark G. Parker sold 110,000 shares of the firm’s stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $72.29, for a total value of $7,951,900.00. Following the sale, the chairman directly owned 842,361 shares in the company, valued at approximately $60,894,276.69. This trade represents a 11.55% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.80% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

NKE has been the subject of a number of research reports. Hsbc Global Res raised shares of NIKE from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 27th. Piper Sandler boosted their target price on NIKE from $70.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, June 27th. Citigroup raised NIKE from a “neutral” rating to a “positive” rating in a report on Friday, September 19th. Argus raised NIKE to a “buy” rating in a research note on Sunday, July 6th. Finally, Telsey Advisory Group lifted their price objective on NIKE from $70.00 to $75.00 and gave the stock a “market perform” rating in a report on Tuesday, September 23rd. Three research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $79.62.

About NIKE

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.