Delap Wealth Advisory LLC Has $263,000 Position in NIKE, Inc. (NYSE:NKE)

Delap Wealth Advisory LLC lessened its holdings in NIKE, Inc. (NYSE:NKE) by 16.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,493 shares of the footwear maker’s stock after selling 688 shares during the period. Delap Wealth Advisory LLC’s holdings in NIKE were worth $263,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of NKE. 9258 Wealth Management LLC lifted its position in shares of NIKE by 23.9% in the fourth quarter. 9258 Wealth Management LLC now owns 4,366 shares of the footwear maker’s stock worth $474,000 after purchasing an additional 842 shares in the last quarter. Gryphon Financial Partners LLC lifted its position in NIKE by 34.6% in the 4th quarter. Gryphon Financial Partners LLC now owns 11,598 shares of the footwear maker’s stock worth $1,259,000 after buying an additional 2,981 shares in the last quarter. TrinityPoint Wealth LLC boosted its stake in shares of NIKE by 0.8% during the 4th quarter. TrinityPoint Wealth LLC now owns 21,561 shares of the footwear maker’s stock valued at $2,341,000 after buying an additional 166 shares during the period. Cambridge Investment Research Advisors Inc. grew its holdings in shares of NIKE by 6.5% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 126,803 shares of the footwear maker’s stock valued at $13,767,000 after acquiring an additional 7,769 shares in the last quarter. Finally, SageView Advisory Group LLC increased its stake in shares of NIKE by 192.9% in the fourth quarter. SageView Advisory Group LLC now owns 9,496 shares of the footwear maker’s stock worth $989,000 after acquiring an additional 6,254 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on NKE. Bank of America reduced their price target on NIKE from $113.00 to $104.00 and set a “buy” rating for the company in a report on Friday, June 28th. HSBC decreased their target price on shares of NIKE from $100.00 to $90.00 and set a “hold” rating for the company in a research report on Friday, June 28th. Williams Trading upgraded shares of NIKE from a “sell” rating to a “buy” rating and raised their price target for the company from $67.00 to $93.00 in a report on Friday, August 16th. Truist Financial upped their price objective on shares of NIKE from $81.00 to $85.00 and gave the stock a “hold” rating in a report on Friday. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $92.00 target price on shares of NIKE in a report on Friday. Fifteen equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $96.15.

NIKE Stock Up 6.8 %

NYSE NKE opened at $86.52 on Friday. NIKE, Inc. has a twelve month low of $70.75 and a twelve month high of $123.39. The stock has a market cap of $130.59 billion, a PE ratio of 23.20, a PEG ratio of 2.08 and a beta of 1.02. The firm has a 50-day simple moving average of $78.11 and a 200 day simple moving average of $87.06. 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 (NYSE:NKE) last announced its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.16. The company had revenue of $12.60 billion during the quarter, compared to the consensus estimate of $12.86 billion. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The company’s quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter last year, the company earned $0.66 EPS. On average, research analysts forecast that NIKE, Inc. will post 3.06 EPS for the current year.

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd will be paid a dividend of $0.37 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.48 dividend on an annualized basis and a yield of 1.71%. NIKE’s dividend payout ratio is currently 39.68%.

Insider Buying and Selling at NIKE

In other news, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the sale, the chairman now directly owns 1,102,090 shares in the company, valued at approximately $80,419,507.30. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Chairman Mark G. Parker sold 110,000 shares of the firm’s stock in a transaction that occurred 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 approximately $80,419,507.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robert Holmes Swan purchased 2,941 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The stock was bought at an average cost of $77.02 per share, for a total transaction of $226,515.82. Following the purchase, the director now owns 20,946 shares in the company, valued at $1,613,260.92. The disclosure for this purchase 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.