Prio Wealth Limited Partnership Cuts Stock Position in NIKE, Inc. (NYSE:NKE)

Prio Wealth Limited Partnership decreased its stake in shares of NIKE, Inc. (NYSE:NKE) by 11.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 182,685 shares of the footwear maker’s stock after selling 24,560 shares during the quarter. Prio Wealth Limited Partnership’s holdings in NIKE were worth $13,769,000 at the end of the most recent quarter.

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

Insider Buying and Selling

In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction that occurred on 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 directly owns 1,031,226 shares in the company, valued at approximately $80,435,628. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the business’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 owns 1,102,090 shares in the company, valued at approximately $80,419,507.30. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Mark G. Parker sold 52,487 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $80,435,628. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on NKE. Sanford C. Bernstein decreased their price target on NIKE from $112.00 to $109.00 and set an “outperform” rating for the company in a research note on Thursday, September 19th. Piper Sandler reissued a “neutral” rating and issued a $80.00 target price on shares of NIKE in a research report on Friday, September 20th. Oppenheimer reaffirmed an “outperform” rating and set a $120.00 price target on shares of NIKE in a report on Friday, June 28th. Bank of America reissued a “buy” rating and set a $104.00 price objective on shares of NIKE in a report on Monday, September 23rd. Finally, Stifel Nicolaus dropped their target price on shares of NIKE from $88.00 to $79.00 and set a “hold” rating on the stock in a report on Monday, August 26th. 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 MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $96.70.

NIKE Trading Up 0.8 %

Shares of NIKE stock opened at $89.13 on Wednesday. NIKE, Inc. has a fifty-two week low of $70.75 and a fifty-two week high of $123.39. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.69 and a current ratio of 2.40. 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 fifty day moving average of $80.26 and a 200 day moving average of $86.41.

NIKE Announces Dividend

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