Sunbelt Securities Inc. Sells 6,186 Shares of NIKE, Inc. (NYSE:NKE)

Sunbelt Securities Inc. trimmed its holdings in shares of NIKE, Inc. (NYSE:NKE) by 64.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,412 shares of the footwear maker’s stock after selling 6,186 shares during the period. Sunbelt Securities Inc.’s holdings in NIKE were worth $321,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in NKE. Richelieu Gestion SA increased its holdings in NIKE by 27.8% during the first quarter. Richelieu Gestion SA now owns 24,448 shares of the footwear maker’s stock valued at $2,298,000 after buying an additional 5,315 shares during the period. Prentice Wealth Management LLC raised its position in shares of NIKE by 8.6% in the 1st quarter. Prentice Wealth Management LLC now owns 4,450 shares of the footwear maker’s stock worth $418,000 after acquiring an additional 352 shares in the last quarter. Thompson Investment Management Inc. lifted its stake in shares of NIKE by 52.0% during the 1st quarter. Thompson Investment Management Inc. now owns 833 shares of the footwear maker’s stock worth $78,000 after purchasing an additional 285 shares during the last quarter. Etesian Wealth Advisors Inc. boosted its position in NIKE by 1.2% during the first quarter. Etesian Wealth Advisors Inc. now owns 14,627 shares of the footwear maker’s stock valued at $1,375,000 after purchasing an additional 170 shares in the last quarter. Finally, DLK Investment Management LLC grew its stake in NIKE by 4.2% in the first quarter. DLK Investment Management LLC now owns 31,699 shares of the footwear maker’s stock valued at $2,979,000 after purchasing an additional 1,277 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Price Performance

Shares of NIKE stock opened at $94.23 on Friday. The firm has a market cap of $142.22 billion, a PE ratio of 27.71, a P/E/G ratio of 1.79 and a beta of 1.05. NIKE, Inc. has a twelve month low of $88.66 and a twelve month high of $123.39. The company has a quick ratio of 1.89, a current ratio of 2.74 and a debt-to-equity ratio of 0.63. The business has a 50-day moving average price of $93.70 and a 200 day moving average price of $99.48.

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 1.57%. The ex-dividend date is Monday, June 3rd. NIKE’s payout ratio is 43.53%.

Analyst Ratings Changes

NKE has been the subject of several analyst reports. Evercore ISI decreased their price target on shares of NIKE from $127.00 to $117.00 and set an “outperform” rating for the company in a research report on Friday, March 22nd. Wedbush restated an “outperform” rating and issued a $115.00 target price on shares of NIKE in a research note on Tuesday, April 30th. Morgan Stanley reduced their price target on NIKE from $116.00 to $114.00 and set an “overweight” rating on the stock in a research report on Monday, June 17th. Piper Sandler decreased their price objective on NIKE from $107.00 to $98.00 and set a “neutral” rating for the company in a report on Friday, March 22nd. Finally, Stifel Nicolaus dropped their target price on NIKE from $129.00 to $117.00 and set a “buy” rating on the stock in a research note on Friday, March 22nd. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $114.81.

Insider Activity

In other NIKE news, Chairman Mark G. Parker sold 168,378 shares of the stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $93.14, for a total transaction of $15,682,726.92. Following the transaction, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at $102,648,662.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, EVP Monique S. Matheson sold 45,000 shares of the business’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $94.16, for a total transaction of $4,237,200.00. Following the transaction, the executive vice president now directly owns 44,997 shares in the company, valued at $4,236,917.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Mark G. Parker sold 168,378 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $93.14, for a total value of $15,682,726.92. Following the transaction, the chairman now owns 1,102,090 shares in the company, valued at $102,648,662.60. The disclosure for this sale can be found here. Insiders have sold 213,660 shares of company stock worth $19,946,333 in the last quarter. Corporate insiders own 0.50% of the company’s stock.

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.