NIKE, Inc. (NYSE:NKE) Shares Sold by Wulff Hansen & CO.

Wulff Hansen & CO. reduced its stake in NIKE, Inc. (NYSE:NKE) by 12.4% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 5,530 shares of the footwear maker’s stock after selling 780 shares during the quarter. Wulff Hansen & CO.’s holdings in NIKE were worth $417,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Annapolis Financial Services LLC lifted its stake in NIKE by 440.0% during the first quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock worth $25,000 after purchasing an additional 220 shares in the last quarter. True Wealth Design LLC raised its holdings in shares of NIKE by 106.4% in the 4th quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock valued at $32,000 after buying an additional 150 shares during the period. Frank Rimerman Advisors LLC acquired a new position in NIKE during the 4th quarter worth about $33,000. Core Wealth Advisors Inc. boosted its holdings in NIKE by 408.5% during the 4th quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock valued at $33,000 after acquiring an additional 241 shares during the period. Finally, Gold Investment Management Ltd. acquired a new position in NIKE in the 4th quarter valued at about $36,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Price Performance

Shares of NYSE:NKE opened at $86.19 on Tuesday. NIKE, Inc. has a one year low of $70.75 and a one year high of $123.39. The stock has a market capitalization of $130.08 billion, a price-to-earnings ratio of 23.11, a PEG ratio of 2.08 and a beta of 1.02. The company has a 50-day simple moving average of $78.40 and a 200-day simple moving average of $86.90. 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 issued its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.16. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The firm had revenue of $12.60 billion for the quarter, compared to analysts’ expectations of $12.86 billion. During the same quarter in the previous year, the firm posted $0.66 EPS. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. On average, analysts predict that NIKE, Inc. will post 3.06 EPS for the current year.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 1.72%. The ex-dividend date is Tuesday, September 3rd. NIKE’s payout ratio is 39.68%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on NKE. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $92.00 target price on shares of NIKE in a research note on Friday. Piper Sandler reiterated a “neutral” rating and issued a $80.00 price objective on shares of NIKE in a research note on Friday. Williams Trading raised NIKE from a “sell” rating to a “buy” rating and boosted their target price for the stock from $67.00 to $93.00 in a research note on Friday, August 16th. Sanford C. Bernstein cut their price target on NIKE from $112.00 to $109.00 and set an “outperform” rating on the stock in a report on Thursday, September 19th. Finally, Daiwa America cut NIKE from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. Fifteen research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $96.04.

Insider Buying and Selling

In other news, Chairman Mark G. Parker sold 110,000 shares of the company’s stock in a transaction on 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 transaction, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at approximately $80,419,507.30. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Robert Holmes Swan purchased 2,941 shares of NIKE stock in a transaction dated 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 transaction, the director now owns 20,946 shares in the company, valued at $1,613,260.92. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Mark G. Parker sold 110,000 shares of the business’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 value 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 disclosure for this sale can be found here. 0.50% of the stock is currently owned by corporate insiders.

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.