NIKE, Inc. $NKE Shares Sold by GM Advisory Group LLC

GM Advisory Group LLC cut its stake in NIKE, Inc. (NYSE:NKE) by 51.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,585 shares of the footwear maker’s stock after selling 13,260 shares during the period. GM Advisory Group LLC’s holdings in NIKE were worth $878,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Brighton Jones LLC increased its stake in shares of NIKE by 388.5% in the 4th quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker’s stock worth $15,316,000 after acquiring an additional 160,980 shares during the last quarter. Caxton Associates LLP purchased a new stake in shares of NIKE in the first quarter valued at about $311,000. United Bank increased its position in NIKE by 11.3% during the second quarter. United Bank now owns 17,067 shares of the footwear maker’s stock worth $1,212,000 after purchasing an additional 1,736 shares during the last quarter. Foundations Investment Advisors LLC raised its stake in NIKE by 3.1% during the second quarter. Foundations Investment Advisors LLC now owns 5,269 shares of the footwear maker’s stock worth $374,000 after purchasing an additional 159 shares during the period. Finally, Cetera Investment Advisers boosted its holdings in NIKE by 24.3% in the 2nd quarter. Cetera Investment Advisers now owns 250,803 shares of the footwear maker’s stock valued at $17,817,000 after purchasing an additional 48,953 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. DZ Bank restated a “buy” rating on shares of NIKE in a report on Friday, December 19th. Bank of America cut their target price on NIKE from $84.00 to $73.00 and set a “buy” rating for the company in a research note on Friday, December 19th. Telsey Advisory Group decreased their price target on NIKE from $75.00 to $72.00 and set a “market perform” rating on the stock in a research note on Friday, December 19th. Piper Sandler set a $75.00 price objective on NIKE and gave the stock an “overweight” rating in a research report on Friday, December 19th. Finally, BTIG Research reaffirmed a “buy” rating and issued a $100.00 target price on shares of NIKE in a research report on Tuesday, January 27th. Twenty-three equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $74.90.

NIKE Stock Performance

Shares of NKE stock opened at $53.43 on Thursday. The firm has a 50 day moving average of $61.94 and a two-hundred day moving average of $65.12. The stock has a market capitalization of $79.10 billion, a PE ratio of 31.43, a P/E/G ratio of 2.82 and a beta of 1.27. The company has a quick ratio of 1.40, a current ratio of 2.06 and a debt-to-equity ratio of 0.50. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $80.17.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, December 18th. The footwear maker reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.16. NIKE had a return on equity of 18.43% and a net margin of 5.43%.The business had revenue of $12.43 billion for the quarter, compared to analysts’ expectations of $12.19 billion. During the same period last year, the firm earned $0.78 earnings per share. The company’s revenue for the quarter was up .6% compared to the same quarter last year. On average, research analysts predict that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Monday, March 2nd will be given a $0.41 dividend. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $1.64 dividend on an annualized basis and a yield of 3.1%. NIKE’s dividend payout ratio (DPR) is currently 96.47%.

Insider Activity

In other news, Director Robert Holmes Swan bought 8,691 shares of the business’s stock in a transaction that occurred on Monday, December 22nd. The shares were purchased at an average cost of $57.54 per share, for a total transaction of $500,080.14. Following the completion of the purchase, the director owned 43,293 shares of the company’s stock, valued at approximately $2,491,079.22. This represents a 25.12% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Elliott Hill bought 16,388 shares of NIKE stock in a transaction that occurred on Monday, December 29th. The stock was purchased at an average cost of $61.10 per share, for a total transaction of $1,001,306.80. Following the acquisition, the chief executive officer owned 241,587 shares of the company’s stock, valued at $14,760,965.70. This represents a 7.28% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders purchased 75,079 shares of company stock worth $4,449,887. 0.80% of the stock is currently owned by company insiders.

NIKE Profile

Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).