Clean Yield Group Cuts Position in NIKE, Inc. (NYSE:NKE)

Clean Yield Group lowered its position in NIKE, Inc. (NYSE:NKE) by 49.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 700 shares of the footwear maker’s stock after selling 675 shares during the period. Clean Yield Group’s holdings in NIKE were worth $62,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of NIKE by 0.5% in the first quarter. Vanguard Group Inc. now owns 110,044,821 shares of the footwear maker’s stock valued at $10,342,012,000 after buying an additional 501,792 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in NIKE by 87.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 17,135,431 shares of the footwear maker’s stock valued at $1,860,395,000 after acquiring an additional 7,996,434 shares during the last quarter. Legal & General Group Plc increased its holdings in NIKE by 5.5% during the 2nd quarter. Legal & General Group Plc now owns 11,049,294 shares of the footwear maker’s stock valued at $832,785,000 after acquiring an additional 571,544 shares in the last quarter. Fisher Asset Management LLC raised its position in NIKE by 2.2% during the fourth quarter. Fisher Asset Management LLC now owns 9,880,038 shares of the footwear maker’s stock worth $1,072,676,000 after acquiring an additional 211,360 shares during the last quarter. Finally, Jennison Associates LLC lifted its holdings in shares of NIKE by 45.6% in the first quarter. Jennison Associates LLC now owns 8,859,580 shares of the footwear maker’s stock valued at $832,623,000 after purchasing an additional 2,775,510 shares in the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of NIKE 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 in the company, valued at $80,419,507.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 stock was 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 $80,435,628. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Mark G. Parker sold 110,000 shares of NIKE 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 transaction, the chairman now owns 1,102,090 shares in the company, valued at $80,419,507.30. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have commented on NKE. TD Cowen upped their price objective on shares of NIKE from $71.00 to $78.00 and gave the company a “hold” rating in a research note on Wednesday, October 2nd. Stifel Nicolaus cut their price target on NIKE from $88.00 to $79.00 and set a “hold” rating on the stock in a research note on Monday, August 26th. Truist Financial lowered their price objective on NIKE from $85.00 to $83.00 and set a “hold” rating for the company in a research note on Wednesday, October 2nd. JPMorgan Chase & Co. reduced their target price on NIKE from $80.00 to $77.00 and set a “neutral” rating for the company in a research note on Wednesday, October 2nd. Finally, Barclays dropped their price target on shares of NIKE from $84.00 to $81.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 2nd. Fifteen analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $96.04.

NIKE Price Performance

NYSE NKE traded down $0.66 on Tuesday, reaching $80.17. The company’s stock had a trading volume of 1,000,925 shares, compared to its average volume of 11,731,295. The firm’s 50 day moving average is $80.90 and its two-hundred day moving average is $86.05. The stock has a market cap of $121.01 billion, a PE ratio of 21.67, a PEG 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, Inc. has a twelve month low of $70.75 and a twelve month high of $123.39.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.18. The company had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $11.64 billion. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The firm’s revenue was down 10.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.94 earnings per share. As a group, sell-side analysts predict that NIKE, Inc. will post 3.04 EPS for the current year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd were given a $0.37 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.85%. NIKE’s dividend payout ratio (DPR) is 39.68%.

NIKE Company 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.