NBC Securities Inc. Sells 488 Shares of NIKE, Inc. (NYSE:NKE)

NBC Securities Inc. reduced its stake in NIKE, Inc. (NYSE:NKEFree Report) by 1.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 34,520 shares of the footwear maker’s stock after selling 488 shares during the quarter. NBC Securities Inc.’s holdings in NIKE were worth $3,244,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Iron Horse Wealth Management LLC boosted its holdings in NIKE by 120.7% in the 4th quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock worth $28,000 after buying an additional 140 shares during the period. Planned Solutions Inc. purchased a new stake in shares of NIKE during the fourth quarter worth about $29,000. True Wealth Design LLC raised its stake in NIKE by 106.4% during the 4th quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock valued at $32,000 after purchasing an additional 150 shares during the period. Frank Rimerman Advisors LLC purchased a new position in NIKE in the 4th quarter worth approximately $33,000. Finally, Core Wealth Advisors Inc. boosted its stake in NIKE by 408.5% in the 4th quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock worth $33,000 after purchasing an additional 241 shares during the period. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

NIKE Stock Performance

NKE stock traded down $0.22 during midday trading on Wednesday, hitting $94.78. 6,712,037 shares of the stock traded hands, compared to its average volume of 8,025,083. NIKE, Inc. has a 1-year low of $88.66 and a 1-year high of $123.39. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.74 and a quick ratio of 1.89. The stock’s fifty day simple moving average is $93.31 and its 200-day simple moving average is $100.21. The firm has a market cap of $143.06 billion, a P/E ratio of 27.88, a PEG ratio of 1.77 and a beta of 1.05.

NIKE (NYSE:NKEGet Free Report) last posted its earnings results on Thursday, March 21st. The footwear maker reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.29. NIKE had a return on equity of 39.41% and a net margin of 10.14%. The firm had revenue of $12.43 billion for the quarter, compared to analysts’ expectations of $12.28 billion. On average, analysts expect that NIKE, Inc. will post 3.76 earnings per share for the current year.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be given a dividend of $0.37 per share. The ex-dividend date is Monday, June 3rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.56%. NIKE’s dividend payout ratio (DPR) is 43.53%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Royal Bank of Canada restated a “sector perform” rating and set a $100.00 target price (down previously from $110.00) on shares of NIKE in a research report on Friday, March 22nd. Truist Financial restated a “hold” rating and set a $111.00 price objective on shares of NIKE in a research report on Tuesday, March 19th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $115.00 target price on shares of NIKE in a report on Thursday, June 13th. Wells Fargo & Company reduced their price objective on NIKE from $120.00 to $115.00 and set an “overweight” rating on the stock in a research note on Monday, June 10th. Finally, UBS Group lowered their target price on NIKE from $138.00 to $125.00 and set a “buy” rating for the company in a research report on Friday, March 22nd. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-one have assigned a buy rating to the stock. Based on data from MarketBeat, NIKE currently has a consensus rating of “Moderate Buy” and an average price target of $115.52.

Read Our Latest Research Report on NIKE

Insider Activity

In other NIKE news, Chairman Mark G. Parker sold 168,378 shares of the stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $93.14, for a total transaction of $15,682,726.92. Following the transaction, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at $102,648,662.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Chairman Mark G. Parker sold 168,378 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $93.14, for a total transaction of $15,682,726.92. Following the completion of the sale, the chairman now directly owns 1,102,090 shares in the company, valued at $102,648,662.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Monique S. Matheson sold 45,000 shares of NIKE stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $94.16, for a total transaction of $4,237,200.00. Following the sale, the executive vice president now directly owns 44,997 shares in the company, valued at approximately $4,236,917.52. The disclosure for this sale can be found here. Insiders have sold 213,660 shares of company stock worth $19,946,333 in the last quarter. Corporate insiders own 0.50% of the company’s stock.

NIKE Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for NIKE (NYSE:NKE)

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