Park Place Capital Corp Trims Holdings in NIKE, Inc. (NYSE:NKE)

Park Place Capital Corp lowered its position in shares of NIKE, Inc. (NYSE:NKE) by 21.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,541 shares of the footwear maker’s stock after selling 974 shares during the quarter. Park Place Capital Corp’s holdings in NIKE were worth $333,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of NKE. Sherbrooke Park Advisers LLC bought a new position in NIKE in the 3rd quarter worth $432,000. SRS Capital Advisors Inc. raised its stake in NIKE by 5.0% during the 3rd quarter. SRS Capital Advisors Inc. now owns 4,107 shares of the footwear maker’s stock valued at $393,000 after purchasing an additional 196 shares during the period. Insigneo Advisory Services LLC lifted its holdings in NIKE by 12.1% in the 3rd quarter. Insigneo Advisory Services LLC now owns 10,551 shares of the footwear maker’s stock worth $1,012,000 after purchasing an additional 1,140 shares in the last quarter. Truist Financial Corp boosted its stake in NIKE by 21.7% in the 3rd quarter. Truist Financial Corp now owns 705,830 shares of the footwear maker’s stock worth $67,491,000 after purchasing an additional 126,074 shares during the period. Finally, Axxcess Wealth Management LLC grew its holdings in NIKE by 32.3% during the 3rd quarter. Axxcess Wealth Management LLC now owns 9,133 shares of the footwear maker’s stock valued at $873,000 after buying an additional 2,229 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors.

Insider Activity at NIKE

In other news, VP Johanna Nielsen sold 282 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $93.64, for a total transaction of $26,406.48. Following the completion of the transaction, the vice president now directly owns 730 shares of the company’s stock, valued at $68,357.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other NIKE news, Chairman Mark G. Parker sold 168,378 shares of NIKE stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $93.14, for a total transaction of $15,682,726.92. Following the sale, the chairman now owns 1,102,090 shares of the company’s stock, valued at approximately $102,648,662.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Johanna Nielsen sold 282 shares of the business’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $93.64, for a total value of $26,406.48. Following the transaction, the vice president now owns 730 shares of the company’s stock, valued at approximately $68,357.20. The disclosure for this sale can be found here. Insiders sold a total of 213,660 shares of company stock valued at $19,946,333 in the last quarter. Insiders own 0.50% of the company’s stock.

NIKE Trading Up 1.9 %

Shares of NIKE stock opened at $76.83 on Tuesday. The business’s fifty day moving average is $93.28 and its two-hundred day moving average is $98.85. The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.55. NIKE, Inc. has a fifty-two week low of $74.29 and a fifty-two week high of $123.39. The firm has a market cap of $115.96 billion, a PE ratio of 20.60, a P/E/G ratio of 1.43 and a beta of 1.01.

NIKE (NYSE:NKE) last released its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, topping the consensus estimate of $0.85 by $0.16. The firm had revenue of $12.60 billion for the quarter, compared to analyst estimates of $12.86 billion. NIKE had a return on equity of 42.63% and a net margin of 11.10%. NIKE’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.66 EPS. Analysts anticipate that NIKE, Inc. will post 3.9 earnings per share for the current year.

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Monday, June 3rd were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 1.93%. The ex-dividend date of this dividend was Monday, June 3rd. NIKE’s dividend payout ratio (DPR) is presently 39.68%.

Analysts Set New Price Targets

Several equities analysts have recently commented on NKE shares. Jefferies Financial Group lowered their target price on shares of NIKE from $110.00 to $100.00 and set a “hold” rating on the stock in a report on Friday, March 22nd. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $83.00 price target (down previously from $116.00) on shares of NIKE in a research note on Friday. Telsey Advisory Group cut their price objective on NIKE from $115.00 to $100.00 and set an “outperform” rating for the company in a research report on Friday. Wedbush decreased their target price on NIKE from $115.00 to $97.00 and set an “outperform” rating on the stock in a research report on Friday. Finally, Stifel Nicolaus restated a “hold” rating and set a $88.00 price target (down previously from $117.00) on shares of NIKE in a report on Friday. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $98.96.

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.