IMS Capital Management Sells 277 Shares of NIKE, Inc. (NYSE:NKE)

IMS Capital Management lessened its position in NIKE, Inc. (NYSE:NKE) by 1.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 22,361 shares of the footwear maker’s stock after selling 277 shares during the period. IMS Capital Management’s holdings in NIKE were worth $1,868,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Kampmann Melissa S. boosted its stake in NIKE by 0.8% during the 4th quarter. Kampmann Melissa S. now owns 15,050 shares of the footwear maker’s stock valued at $1,634,000 after purchasing an additional 115 shares during the last quarter. Ascent Wealth Partners LLC increased its holdings in NIKE by 0.4% in the 1st quarter. Ascent Wealth Partners LLC now owns 28,513 shares of the footwear maker’s stock worth $2,680,000 after buying an additional 115 shares in the last quarter. Condor Capital Management raised its position in NIKE by 0.4% in the 1st quarter. Condor Capital Management now owns 26,079 shares of the footwear maker’s stock worth $2,451,000 after buying an additional 116 shares during the last quarter. Bell Investment Advisors Inc lifted its stake in NIKE by 4.7% during the 4th quarter. Bell Investment Advisors Inc now owns 2,610 shares of the footwear maker’s stock valued at $283,000 after acquiring an additional 118 shares during the period. Finally, Lodestone Wealth Management LLC grew its stake in shares of NIKE by 5.5% in the first quarter. Lodestone Wealth Management LLC now owns 2,248 shares of the footwear maker’s stock worth $211,000 after acquiring an additional 118 shares during the period. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Williams Trading upgraded shares of NIKE from a “sell” rating to a “buy” rating and raised their target price for the stock from $67.00 to $93.00 in a report on Friday, August 16th. Telsey Advisory Group restated an “outperform” rating and issued a $100.00 price target on shares of NIKE in a research note on Friday, September 20th. Piper Sandler reiterated a “neutral” rating and set a $80.00 price objective on shares of NIKE in a research report on Friday, September 20th. Wedbush dropped 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, June 28th. Finally, Truist Financial upped their price target on shares of NIKE from $81.00 to $85.00 and gave the company a “hold” rating in a research report on Friday, September 20th. Fifteen research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, NIKE has a consensus rating of “Moderate Buy” and a consensus price target of $96.70.

NIKE Stock Down 1.2 %

NKE opened at $88.37 on Tuesday. NIKE, Inc. has a 52 week low of $70.75 and a 52 week high of $123.39. The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.55. The firm has a 50-day simple moving average of $79.94 and a two-hundred day simple moving average of $86.49. The company has a market capitalization of $133.37 billion, a PE ratio of 23.69, a price-to-earnings-growth ratio of 2.30 and a beta of 1.02.

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date is Tuesday, September 3rd. NIKE’s payout ratio is 39.68%.

Insider Transactions at NIKE

In related news, Chairman Mark G. Parker sold 52,487 shares of the firm’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total value of $4,093,986.00. Following the completion of the transaction, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at $80,435,628. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 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 owns 1,102,090 shares of the company’s stock, valued at approximately $80,419,507.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Mark G. Parker sold 52,487 shares of NIKE stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total value 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 disclosure for this sale can be found here. Insiders own 0.50% of the company’s stock.

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.