NIKE, Inc. (NYSE:NKE) Shares Sold by Westwood Wealth Management

Westwood Wealth Management lessened its holdings in NIKE, Inc. (NYSE:NKE) by 24.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,302 shares of the footwear maker’s stock after selling 2,650 shares during the period. NIKE comprises approximately 0.2% of Westwood Wealth Management’s holdings, making the stock its 29th biggest holding. Westwood Wealth Management’s holdings in NIKE were worth $626,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Annapolis Financial Services LLC increased its stake in NIKE by 440.0% during the 1st quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock worth $25,000 after buying an additional 220 shares during the period. True Wealth Design LLC increased its position in shares of NIKE by 106.4% during the fourth quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock worth $32,000 after acquiring an additional 150 shares during the last quarter. Frank Rimerman Advisors LLC acquired a new position in shares of NIKE in the fourth quarter worth about $33,000. Core Wealth Advisors Inc. boosted its holdings in NIKE by 408.5% in the fourth 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 during the last quarter. Finally, Gold Investment Management Ltd. acquired a new stake in shares of NIKE during the fourth quarter worth $36,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

Insider Activity

In related news, Chairman Mark G. Parker sold 110,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the transaction, the chairman now owns 1,102,090 shares of the company’s stock, valued at $80,419,507.30. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the completion of the transaction, the chairman now owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction dated Thursday, July 18th. The stock was 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 owns 1,102,090 shares in the company, valued at $80,419,507.30. The disclosure for this sale can be found here. 0.50% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

NKE has been the subject of several research reports. Royal Bank of Canada decreased their price target on shares of NIKE from $100.00 to $75.00 and set a “sector perform” rating for the company in a report on Tuesday, July 2nd. Robert W. Baird lifted their target price on NIKE from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Friday. UBS Group reiterated a “neutral” rating and set a $78.00 price target on shares of NIKE in a research report on Friday, June 28th. 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 report on Thursday, July 25th. Finally, Oppenheimer reissued an “outperform” rating and issued a $120.00 price target on shares of NIKE in a research note 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’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $96.04.

NIKE Stock Down 0.4 %

NYSE:NKE opened at $86.19 on Tuesday. The business’s fifty day moving average price is $78.40 and its 200 day moving average price is $86.90. The firm has a market capitalization of $130.08 billion, a price-to-earnings ratio of 23.11, a PEG ratio of 2.08 and a beta of 1.02. 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 1-year low of $70.75 and a 1-year high of $123.39.

NIKE (NYSE:NKE) last issued its earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. The company had revenue of $12.60 billion for the quarter, compared to the consensus estimate of $12.86 billion. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The firm’s quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.66 EPS. On average, sell-side analysts forecast that NIKE, Inc. will post 3.06 earnings per share for the current fiscal year.

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd will be given a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.72%. The ex-dividend date is Tuesday, September 3rd. NIKE’s payout ratio is currently 39.68%.

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.