Moors & Cabot Inc. Sells 11,825 Shares of NIKE, Inc. (NYSE:NKE)

Moors & Cabot Inc. decreased its holdings in shares of NIKE, Inc. (NYSE:NKE) by 43.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,297 shares of the footwear maker’s stock after selling 11,825 shares during the quarter. Moors & Cabot Inc.’s holdings in NIKE were worth $1,153,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Annapolis Financial Services LLC raised its holdings in NIKE by 440.0% during the 1st quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock valued at $25,000 after acquiring an additional 220 shares during the period. True Wealth Design LLC grew its position in shares of NIKE by 106.4% during the 4th quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock valued at $32,000 after purchasing an additional 150 shares in the last quarter. Frank Rimerman Advisors LLC purchased a new position in shares of NIKE during the 4th quarter valued at $33,000. Core Wealth Advisors Inc. grew its position in shares of NIKE by 408.5% during the 4th quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock valued at $33,000 after purchasing an additional 241 shares in the last quarter. Finally, Gold Investment Management Ltd. purchased a new position in shares of NIKE during the 4th quarter valued at $36,000. Institutional investors own 64.25% of the company’s stock.

Insider Activity

In related news, Chairman Mark G. Parker sold 110,000 shares of the stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $72.97, for a total value of $8,026,700.00. Following the completion of the transaction, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at $80,419,507.30. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, Chairman Mark G. Parker sold 110,000 shares of the stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $72.97, for a total value of $8,026,700.00. Following the completion of the transaction, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at $80,419,507.30. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Robert Holmes Swan purchased 2,941 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The stock was bought at an average cost of $77.02 per share, with a total value of $226,515.82. Following the completion of the purchase, the director now owns 20,946 shares of the company’s stock, valued at $1,613,260.92. The disclosure for this purchase can be found here. Insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on NKE shares. Truist Financial reduced their price target on shares of NIKE from $99.00 to $81.00 and set a “hold” rating for the company in a research report on Friday, June 28th. Citigroup reduced their price target on shares of NIKE from $115.00 to $102.00 and set a “buy” rating for the company in a research report on Friday, June 28th. Oppenheimer restated an “outperform” rating and set a $120.00 price target on shares of NIKE in a research report on Friday, June 28th. Daiwa America lowered shares of NIKE from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Finally, Wedbush cut their target price on shares of NIKE from $115.00 to $97.00 and set an “outperform” rating for the company in a research report on Friday, June 28th. Fifteen research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $95.74.

NIKE Stock Performance

Shares of NYSE:NKE opened at $80.94 on Thursday. The company has a market cap of $122.17 billion, a price-to-earnings ratio of 21.70, a price-to-earnings-growth ratio of 2.08 and a beta of 1.02. The company has a 50-day moving average price of $77.69 and a 200-day moving average price of $87.28. The company has a current ratio of 2.40, a quick ratio of 1.69 and a debt-to-equity ratio of 0.55. NIKE, Inc. has a 12 month low of $70.75 and a 12 month high of $123.39.

NIKE (NYSE:NKE) last issued its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $12.86 billion. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.66 earnings per share. As a group, equities analysts anticipate that NIKE, Inc. will post 3.06 EPS for the current year.

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 1.83%. The ex-dividend date of this dividend is Tuesday, September 3rd. NIKE’s dividend payout ratio (DPR) is 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.