NIKE, Inc. (NYSE:NKE) Shares Sold by Benjamin Edwards Inc.

Benjamin Edwards Inc. cut its holdings in shares of NIKE, Inc. (NYSE:NKE) by 55.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,932 shares of the footwear maker’s stock after selling 3,714 shares during the period. Benjamin Edwards Inc.’s holdings in NIKE were worth $221,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in NKE. Cim LLC purchased a new stake in shares of NIKE in the 4th quarter valued at approximately $14,275,000. TKG Advisors LLC purchased a new stake in shares of NIKE in the 4th quarter valued at approximately $1,012,000. Spartan Planning & Wealth Management purchased a new stake in shares of NIKE in the 4th quarter valued at approximately $182,000. Edmond DE Rothschild Holding S.A. lifted its position in shares of NIKE by 27.9% in the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 113,299 shares of the footwear maker’s stock valued at $12,301,000 after acquiring an additional 24,686 shares in the last quarter. Finally, Advisors Asset Management Inc. lifted its position in shares of NIKE by 86.0% in the 1st quarter. Advisors Asset Management Inc. now owns 20,957 shares of the footwear maker’s stock valued at $1,970,000 after acquiring an additional 9,689 shares in the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

NIKE Stock Performance

Shares of NKE opened at $86.52 on Friday. The company has a market capitalization of $130.59 billion, a PE ratio of 23.20, a price-to-earnings-growth ratio of 2.08 and a beta of 1.02. NIKE, Inc. has a one year low of $70.75 and a one year high of $123.39. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.40 and a quick ratio of 1.69. The company’s fifty day moving average price is $78.11 and its 200 day moving average price is $87.06.

NIKE (NYSE:NKE) last announced its 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 the consensus estimate of $12.86 billion. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The business’s quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.66 EPS. As a group, analysts expect that NIKE, Inc. will post 3.06 earnings per share for the current year.

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd will be issued a $0.37 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.48 annualized dividend and a yield of 1.71%. NIKE’s dividend payout ratio (DPR) is presently 39.68%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on NKE. TD Cowen reduced their price target on shares of NIKE from $75.00 to $71.00 and set a “hold” rating for the company in a research report on Thursday, July 25th. BMO Capital Markets reduced their price target on shares of NIKE from $118.00 to $100.00 and set an “outperform” rating for the company in a research report on Friday, June 28th. Truist Financial upped their price objective on shares of NIKE from $81.00 to $85.00 and gave the company a “hold” rating in a research note on Friday. Guggenheim dropped their price objective on shares of NIKE from $130.00 to $115.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. Finally, StockNews.com lowered shares of NIKE from a “buy” rating to a “hold” rating in a research note on Friday, June 21st. Fifteen analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, NIKE presently has an average rating of “Moderate Buy” and a consensus price target of $96.15.

Insiders Place Their Bets

In related news, Director Robert Holmes Swan purchased 2,941 shares of the firm’s stock in a transaction on Friday, June 28th. The shares were bought at an average cost of $77.02 per share, for a total transaction of $226,515.82. Following the transaction, the director now directly owns 20,946 shares of the company’s stock, valued at approximately $1,613,260.92. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the firm’s stock in a transaction on 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 sale, the chairman now directly owns 1,102,090 shares in the company, valued at approximately $80,419,507.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert Holmes Swan purchased 2,941 shares of the firm’s stock in a transaction on Friday, June 28th. The stock was bought at an average price of $77.02 per share, for a total transaction of $226,515.82. Following the completion of the transaction, the director now directly owns 20,946 shares in the company, valued at $1,613,260.92. The disclosure for this purchase can be found here. Company insiders own 0.50% of the company’s stock.

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.