Axxcess Wealth Management LLC Sells 892 Shares of NIKE, Inc. $NKE

Axxcess Wealth Management LLC decreased its holdings in shares of NIKE, Inc. (NYSE:NKE) by 15.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,874 shares of the footwear maker’s stock after selling 892 shares during the quarter. Axxcess Wealth Management LLC’s holdings in NIKE were worth $346,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. raised its holdings in NIKE by 4.6% during the 1st quarter. Vanguard Group Inc. now owns 113,151,080 shares of the footwear maker’s stock valued at $7,182,831,000 after acquiring an additional 4,957,494 shares during the period. Wellington Management Group LLP raised its holdings in NIKE by 24.9% during 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 acquiring an additional 9,043,180 shares during the period. Goldman Sachs Group Inc. raised its holdings in NIKE by 344.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 26,698,835 shares of the footwear maker’s stock valued at $1,694,842,000 after acquiring an additional 20,688,013 shares during the period. Bank of New York Mellon Corp grew its position in shares of 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 valued at $1,332,331,000 after purchasing an additional 620,214 shares in the last quarter. Finally, Flossbach Von Storch SE grew its position in shares of NIKE by 24.0% during 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. Institutional investors own 64.25% of the company’s stock.

NIKE Stock Up 0.9%

Shares of NYSE:NKE opened at $67.46 on Friday. NIKE, Inc. has a 52-week low of $52.28 and a 52-week high of $83.95. The firm has a fifty day moving average of $73.10 and a 200 day moving average of $67.40. The firm has a market capitalization of $99.72 billion, a PE ratio of 34.59, a price-to-earnings-growth ratio of 2.48 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.

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

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.4%. The ex-dividend date was Tuesday, September 2nd. NIKE’s dividend payout ratio is presently 82.05%.

Insider Activity

In other NIKE news, Chairman Mark G. Parker sold 86,078 shares of the company’s stock in a transaction dated 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 completion of the sale, the chairman directly owned 744,988 shares in the company, valued at $56,566,938.84. This represents a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Treasure Heinle sold 4,300 shares of the company’s 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 sale, the executive vice president owned 29,396 shares of the company’s stock, valued at approximately $2,095,052.92. The trade was a 12.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. KeyCorp set a $90.00 price target on shares of NIKE and gave the company an “overweight” rating in a research report on Thursday, October 2nd. The Goldman Sachs Group set a $85.00 price target on shares of NIKE and gave the company a “buy” rating in a research report on Thursday, September 25th. Piper Sandler set a $84.00 price target on shares of NIKE and gave the company an “overweight” rating in a research report on Wednesday, October 1st. Evercore ISI reduced their price target on shares of NIKE from $97.00 to $75.00 and set an “outperform” rating for the company in a research report on Tuesday, June 24th. Finally, Jefferies Financial Group restated a “buy” rating and set a $115.00 price target on shares of NIKE in a research report on Monday, September 29th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $82.21.

NIKE 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.