ZRC Wealth Management LLC Decreases Holdings in NIKE, Inc. (NYSE:NKE)

ZRC Wealth Management LLC cut its holdings in shares of NIKE, Inc. (NYSE:NKE) by 19.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 961 shares of the footwear maker’s stock after selling 238 shares during the quarter. ZRC Wealth Management LLC’s holdings in NIKE were worth $90,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in NKE. Axxcess Wealth Management LLC increased its stake in shares of NIKE by 32.3% in the third quarter. Axxcess Wealth Management LLC now owns 9,133 shares of the footwear maker’s stock worth $873,000 after buying an additional 2,229 shares during the period. Alps Advisors Inc. increased its stake in shares of NIKE by 114.5% in the third quarter. Alps Advisors Inc. now owns 73,649 shares of the footwear maker’s stock worth $7,042,000 after buying an additional 39,310 shares during the period. London Co. of Virginia increased its stake in shares of NIKE by 10.0% in the third quarter. London Co. of Virginia now owns 148,269 shares of the footwear maker’s stock worth $14,177,000 after buying an additional 13,503 shares during the period. Lake Street Advisors Group LLC increased its stake in shares of NIKE by 1.6% in the third quarter. Lake Street Advisors Group LLC now owns 16,321 shares of the footwear maker’s stock worth $1,561,000 after buying an additional 264 shares during the period. Finally, Seven Eight Capital LP purchased a new position in shares of NIKE in the third quarter worth $5,288,000. 64.25% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at NIKE

In related news, VP Johanna Nielsen sold 282 shares of the firm’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $93.64, for a total transaction of $26,406.48. Following the sale, the vice president now owns 730 shares of the company’s stock, valued at $68,357.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, VP Johanna Nielsen sold 282 shares of the firm’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $93.64, for a total transaction of $26,406.48. Following the sale, the vice president now owns 730 shares of the company’s stock, valued at $68,357.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Monique S. Matheson sold 45,000 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $94.16, for a total value of $4,237,200.00. Following the sale, the executive vice president now directly owns 44,997 shares in the company, valued at approximately $4,236,917.52. The disclosure for this sale can be found here. Insiders have sold a total of 213,660 shares of company stock valued at $19,946,333 over the last quarter. 0.50% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts recently weighed in on NKE shares. Wells Fargo & Company cut their price target on shares of NIKE from $115.00 to $92.00 and set an “overweight” rating on the stock in a report on Friday, June 28th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $79.00 price target (down previously from $114.00) on shares of NIKE in a research report on Friday, June 28th. Piper Sandler lowered their price target on NIKE from $107.00 to $98.00 and set a “neutral” rating for the company in a research report on Friday, March 22nd. Oppenheimer reaffirmed an “outperform” rating and issued a $120.00 price target on shares of NIKE in a research report on Friday, June 28th. Finally, Raymond James reissued a “market perform” rating on shares of NIKE in a research report on Friday, June 28th. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, NIKE presently has a consensus rating of “Hold” and an average price target of $97.19.

NIKE Stock Performance

NYSE:NKE opened at $75.24 on Friday. The stock’s fifty day moving average is $91.81 and its 200 day moving average is $97.90. 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 capitalization of $113.56 billion, a PE ratio of 20.17, a PEG ratio of 1.85 and a beta of 1.01. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.69 and a current ratio of 2.40.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, beating 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%. The business’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.66 earnings per share. On average, sell-side analysts anticipate that NIKE, Inc. will post 3.29 earnings per share for the current year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Monday, June 3rd were given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date was Monday, June 3rd. NIKE’s payout ratio is currently 39.68%.

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.