Sunbelt Securities Inc. Reduces Stock Holdings in NIKE, Inc. (NYSE:NKE)

Sunbelt Securities Inc. lowered its stake in NIKE, Inc. (NYSE:NKE) by 64.5% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,412 shares of the footwear maker’s stock after selling 6,186 shares during the quarter. Sunbelt Securities Inc.’s holdings in NIKE were worth $321,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in NKE. Cim LLC purchased a new stake in shares of NIKE in the fourth quarter valued at $14,275,000. TKG Advisors LLC acquired a new position in shares of NIKE during the 4th quarter valued at about $1,012,000. Louisiana State Employees Retirement System purchased a new position in shares of NIKE during the 4th quarter worth about $8,034,000. Financial Gravity Asset Management Inc. boosted its position in shares of NIKE by 2,332.5% in the third quarter. Financial Gravity Asset Management Inc. now owns 184,042 shares of the footwear maker’s stock worth $17,598,000 after acquiring an additional 176,476 shares during the last quarter. Finally, Brown Advisory Inc. grew its holdings in NIKE by 4.3% in the fourth quarter. Brown Advisory Inc. now owns 4,668,949 shares of the footwear maker’s stock valued at $506,908,000 after purchasing an additional 192,752 shares during the period. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on NKE shares. Barclays cut their price target on shares of NIKE from $142.00 to $114.00 and set an “overweight” rating on the stock in a research note on Monday, March 25th. Williams Trading reaffirmed a “sell” rating and issued a $85.00 target price (down from $92.00) on shares of NIKE in a research report on Monday, March 18th. Piper Sandler lowered their price target on NIKE from $107.00 to $98.00 and set a “neutral” rating for the company in a research report on Friday, March 22nd. Robert W. Baird dropped their price target on NIKE from $140.00 to $125.00 and set an “outperform” rating for the company in a research note on Friday, March 22nd. Finally, Truist Financial reaffirmed a “hold” rating and issued a $99.00 price objective on shares of NIKE in a research note on Thursday, June 20th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $114.81.

NIKE Trading Up 0.2 %

NYSE NKE opened at $94.23 on Friday. The company’s fifty day moving average price is $93.70 and its two-hundred day moving average price is $99.48. The company has a market capitalization of $142.22 billion, a price-to-earnings ratio of 27.71, a price-to-earnings-growth ratio of 1.79 and a beta of 1.05. NIKE, Inc. has a 12 month low of $88.66 and a 12 month 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.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.57%. The ex-dividend date of this dividend is Monday, June 3rd. NIKE’s dividend payout ratio is currently 43.53%.

Insider Activity

In other NIKE news, VP Johanna Nielsen sold 282 shares of the stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $93.64, for a total transaction of $26,406.48. Following the sale, the vice president now directly owns 730 shares of the company’s stock, valued at $68,357.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, VP Johanna Nielsen sold 282 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $93.64, for a total transaction of $26,406.48. Following the completion of the transaction, the vice president now directly owns 730 shares of the company’s stock, valued at $68,357.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Mark G. Parker sold 168,378 shares of the firm’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 value 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 approximately $102,648,662.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 213,660 shares of company stock worth $19,946,333. 0.50% of the stock is currently owned by insiders.

NIKE 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.