Cim LLC Sells 116,659 Shares of NIKE, Inc. (NYSE:NKE)

Cim LLC lessened its stake in NIKE, Inc. (NYSE:NKE) by 85.2% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,286 shares of the footwear maker’s stock after selling 116,659 shares during the quarter. Cim LLC’s holdings in NIKE were worth $1,640,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Eagle Asset Management Inc. boosted its holdings in NIKE by 19.2% during the fourth quarter. Eagle Asset Management Inc. now owns 7,816 shares of the footwear maker’s stock worth $849,000 after purchasing an additional 1,257 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in shares of NIKE by 3.6% in the 4th quarter. Jones Financial Companies Lllp now owns 3,662 shares of the footwear maker’s stock worth $398,000 after buying an additional 126 shares during the last quarter. CWA Asset Management Group LLC grew its holdings in shares of NIKE by 26.4% in the fourth quarter. CWA Asset Management Group LLC now owns 8,962 shares of the footwear maker’s stock valued at $973,000 after acquiring an additional 1,873 shares in the last quarter. Belpointe Asset Management LLC increased its position in shares of NIKE by 35.6% during the fourth quarter. Belpointe Asset Management LLC now owns 3,254 shares of the footwear maker’s stock valued at $353,000 after acquiring an additional 855 shares during the last quarter. Finally, Edge Capital Group LLC lifted its holdings in NIKE by 3.1% during the fourth quarter. Edge Capital Group LLC now owns 9,613 shares of the footwear maker’s stock worth $1,044,000 after acquiring an additional 289 shares during the period. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Stock Performance

NYSE NKE opened at $89.13 on Wednesday. NIKE, Inc. has a 52-week low of $70.75 and a 52-week high of $123.39. The company has a fifty day moving average of $80.26 and a 200-day moving average of $86.41. The company has a market capitalization of $134.53 billion, a P/E ratio of 23.90, a P/E/G ratio of 2.30 and a beta of 1.02. 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.48 annualized dividend and a dividend yield of 1.66%. NIKE’s dividend payout ratio (DPR) is presently 39.68%.

Insider Activity at NIKE

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

Analyst Ratings Changes

NKE has been the topic of a number of recent analyst reports. Truist Financial lifted their target price on NIKE from $81.00 to $85.00 and gave the stock a “hold” rating in a research note on Friday, September 20th. Guggenheim dropped their target price 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. Sanford C. Bernstein decreased their price target on shares of NIKE from $112.00 to $109.00 and set an “outperform” rating for the company in a research note on Thursday, September 19th. Stifel Nicolaus dropped their price objective on NIKE from $88.00 to $79.00 and set a “hold” rating on the stock in a research note on Monday, August 26th. Finally, TD Cowen decreased their target price on NIKE from $75.00 to $71.00 and set a “hold” rating for the company in a research report on Thursday, July 25th. Fifteen equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, NIKE presently has a consensus rating of “Moderate Buy” and an average price target of $96.70.

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.