NIKE, Inc. (NYSE:NKE) Shares Sold by Wallace Advisory Group LLC

Wallace Advisory Group LLC decreased its stake in NIKE, Inc. (NYSE:NKE) by 2.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,387 shares of the footwear maker’s stock after selling 152 shares during the quarter. Wallace Advisory Group LLC’s holdings in NIKE were worth $476,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Annapolis Financial Services LLC boosted its position in shares of NIKE by 440.0% during the 1st quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock valued at $25,000 after acquiring an additional 220 shares during the last quarter. True Wealth Design LLC boosted its position in shares of NIKE by 106.4% during the fourth quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock worth $32,000 after buying an additional 150 shares during the period. Core Wealth Advisors Inc. grew its stake in shares of NIKE by 408.5% in the fourth quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock valued at $33,000 after buying an additional 241 shares in the last quarter. Pineridge Advisors LLC purchased a new stake in shares of NIKE in the 4th quarter valued at $38,000. Finally, Transcendent Capital Group LLC lifted its stake in NIKE by 97.6% during the 1st quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker’s stock worth $38,000 after acquiring an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Stock Performance

NYSE:NKE traded up $0.15 during trading hours on Friday, reaching $82.25. 10,342,355 shares of the company’s stock were exchanged, compared to its average volume of 11,783,974. NIKE, Inc. has a 1-year low of $70.75 and a 1-year high of $123.39. The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $124.14 billion, a price-to-earnings ratio of 22.05, a P/E/G ratio of 2.30 and a beta of 1.02. The company has a 50-day moving average of $80.90 and a 200 day moving average of $86.24.

NIKE (NYSE:NKE) last released its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.18. The firm had revenue of $11.59 billion for the quarter, compared to analyst estimates of $11.64 billion. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The business’s revenue was down 10.4% on a year-over-year basis. During the same quarter last year, the company posted $0.94 earnings per share. Research analysts anticipate 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. Stockholders of record on Tuesday, September 3rd were paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 1.80%. The ex-dividend date of this dividend was Tuesday, September 3rd. NIKE’s dividend payout ratio (DPR) is presently 39.68%.

Insider Buying and Selling

In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total value 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 trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Chairman Mark G. Parker sold 110,000 shares of the firm’s 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 sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Mark G. Parker sold 52,487 shares of the business’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 transaction, the chairman now owns 1,031,226 shares in the company, valued at $80,435,628. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on NKE. Piper Sandler reaffirmed a “neutral” rating and issued a $80.00 target price on shares of NIKE in a research report on Friday, September 20th. Daiwa America downgraded shares of NIKE from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. The Goldman Sachs Group decreased their price target on shares of NIKE from $118.00 to $105.00 and set a “buy” rating for the company in a research report on Friday, June 28th. Robert W. Baird boosted their price target on shares of NIKE from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Friday, September 20th. Finally, Sanford C. Bernstein decreased their target price on NIKE from $112.00 to $109.00 and set an “outperform” rating for the company in a report on Thursday, September 19th. Fifteen equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $96.04.

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.