NIKE, Inc. (NYSE:NKE) Shares Sold by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. lowered its position in NIKE, Inc. (NYSE:NKE) by 44.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 32,506 shares of the footwear maker’s stock after selling 25,519 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in NIKE were worth $2,461,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analyst Ratings Changes

Several research firms recently commented on NKE. BMO Capital Markets reduced their price target on NIKE from $118.00 to $100.00 and set an “outperform” rating on the stock in a research report on Friday, June 28th. Truist Financial upped their target price on shares of NIKE from $81.00 to $85.00 and gave the company a “hold” rating in a research note on Friday, September 20th. Royal Bank of Canada raised their price target on shares of NIKE from $75.00 to $85.00 and gave the company a “sector perform” rating in a report on Wednesday, September 25th. Telsey Advisory Group reiterated an “outperform” rating and issued a $100.00 price objective on shares of NIKE in a report on Friday, September 20th. Finally, Wells Fargo & Company upped their price objective on shares of NIKE from $86.00 to $95.00 and gave the company an “overweight” rating in a research report on Friday, September 20th. Fifteen investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $96.70.

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 owns 1,102,090 shares in the company, valued at approximately $80,419,507.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Chairman Mark G. Parker sold 110,000 shares of the company’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 value 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 approximately $80,419,507.30. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Mark G. Parker sold 52,487 shares of the firm’s 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 owns 1,031,226 shares in the company, valued at approximately $80,435,628. The disclosure for this sale can be found here. Corporate insiders own 0.50% of the company’s stock.

NIKE Stock Performance

Shares of NYSE NKE opened at $89.13 on Wednesday. NIKE, Inc. has a 12-month low of $70.75 and a 12-month high of $123.39. The company has a market cap of $134.53 billion, a PE ratio of 23.90, a P/E/G ratio of 2.30 and a beta of 1.02. The stock has a 50 day simple moving average of $80.26 and a 200-day simple moving average of $86.41. 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 Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd were paid a $0.37 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $1.48 annualized dividend and a dividend yield of 1.66%. NIKE’s payout ratio is 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.