Sachetta LLC Reduces Holdings in NIKE, Inc. $NKE

Sachetta LLC trimmed its position in shares of NIKE, Inc. (NYSE:NKE) by 17.5% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,288 shares of the footwear maker’s stock after selling 273 shares during the quarter. Sachetta LLC’s holdings in NIKE were worth $92,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of NKE. Caldwell Sutter Capital Inc. raised its holdings in shares of NIKE by 6.3% in the second quarter. Caldwell Sutter Capital Inc. now owns 2,390 shares of the footwear maker’s stock valued at $170,000 after acquiring an additional 142 shares in the last quarter. Westmount Partners LLC raised its holdings in NIKE by 2.9% in the second quarter. Westmount Partners LLC now owns 5,165 shares of the footwear maker’s stock worth $367,000 after purchasing an additional 146 shares in the last quarter. HB Wealth Management LLC raised its holdings in NIKE by 0.3% in the second quarter. HB Wealth Management LLC now owns 52,012 shares of the footwear maker’s stock worth $3,695,000 after purchasing an additional 147 shares in the last quarter. Matrix Trust Co raised its holdings in NIKE by 53.1% in the second quarter. Matrix Trust Co now owns 441 shares of the footwear maker’s stock worth $31,000 after purchasing an additional 153 shares in the last quarter. Finally, Summit Financial Strategies Inc. raised its holdings in NIKE by 3.8% in the second quarter. Summit Financial Strategies Inc. now owns 4,270 shares of the footwear maker’s stock worth $303,000 after purchasing an additional 155 shares in the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NKE has been the subject of a number of recent research reports. Weiss Ratings reiterated a “sell (d+)” rating on shares of NIKE in a report on Saturday, September 27th. Piper Sandler set a $84.00 target price on shares of NIKE and gave the stock an “overweight” rating in a report on Wednesday, October 1st. Stifel Nicolaus set a $68.00 target price on shares of NIKE and gave the stock a “hold” rating in a report on Wednesday, October 1st. Needham & Company LLC reiterated a “buy” rating and issued a $78.00 target price on shares of NIKE in a report on Wednesday, October 1st. Finally, Truist Financial reiterated a “buy” rating and issued a $85.00 target price on shares of NIKE in a report on Wednesday, October 1st. Three investment analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, NIKE currently has a consensus rating of “Moderate Buy” and a consensus target price of $81.57.

Insider Buying and Selling at NIKE

In other news, Chairman Mark G. Parker sold 86,078 shares of the business’s stock in a transaction dated Thursday, August 14th. The stock was 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 approximately $56,566,938.84. The trade was a 10.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.80% of the company’s stock.

NIKE Price Performance

Shares of NKE stock opened at $71.25 on Tuesday. NIKE, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $84.76. The firm has a market capitalization of $105.23 billion, a price-to-earnings ratio of 36.54, a PEG ratio of 2.64 and a beta of 1.29. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.45 and a current ratio of 2.19. The stock’s 50-day simple moving average is $74.46 and its 200-day simple moving average is $67.26.

NIKE (NYSE:NKE) last issued 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 21.16% and a net margin of 6.23%.The business had revenue of $11.72 billion for the quarter, compared to analyst estimates of $10.96 billion. During the same quarter in the previous year, the firm earned $0.70 earnings per share. The company’s revenue was up 1.0% on a year-over-year basis. As a group, equities 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 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 2.2%. 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.