Lake Street Private Wealth LLC Has $828,000 Stock Holdings in NIKE, Inc. (NYSE:NKE)

Lake Street Private Wealth LLC lowered its holdings in shares of NIKE, Inc. (NYSE:NKE) by 2.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,816 shares of the footwear maker’s stock after selling 202 shares during the quarter. Lake Street Private Wealth LLC’s holdings in NIKE were worth $828,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Annapolis Financial Services LLC raised its holdings in NIKE by 440.0% in the 1st quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock worth $25,000 after acquiring an additional 220 shares during the period. Iron Horse Wealth Management LLC lifted its holdings in shares of NIKE by 120.7% during the 4th quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock worth $28,000 after acquiring an additional 140 shares during the period. Planned Solutions Inc. acquired a new stake in shares of NIKE during the 4th quarter valued at about $29,000. True Wealth Design LLC increased its stake in NIKE by 106.4% in the fourth quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock valued at $32,000 after acquiring an additional 150 shares during the period. Finally, Frank Rimerman Advisors LLC acquired a new position in NIKE in the fourth quarter worth about $33,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on NKE shares. Piper Sandler dropped their target price on NIKE from $107.00 to $98.00 and set a “neutral” rating for the company in a report on Friday, March 22nd. TD Cowen dropped their price objective on NIKE from $89.00 to $75.00 and set a “hold” rating for the company in a research note on Friday, June 28th. BMO Capital Markets cut their price objective on NIKE from $118.00 to $100.00 and set an “outperform” rating for the company in a report on Friday, June 28th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $88.00 target price (down previously from $117.00) on shares of NIKE in a report on Friday, June 28th. Finally, KeyCorp reissued a “sector weight” rating on shares of NIKE in a report on Friday, June 28th. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, NIKE presently has an average rating of “Hold” and a consensus target price of $97.19.

Insiders Place Their Bets

In other news, Director Robert Holmes Swan purchased 2,941 shares of the company’s 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 purchase, the director now owns 20,946 shares of the company’s stock, valued at $1,613,260.92. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Robert Holmes Swan bought 2,941 shares of the company’s stock in a transaction on Friday, June 28th. The stock was purchased at an average cost of $77.02 per share, for a total transaction of $226,515.82. Following the completion of the transaction, the director now owns 20,946 shares of the company’s stock, valued at $1,613,260.92. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman Mark G. Parker sold 168,378 shares of the business’s stock in a transaction dated 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 sale, the chairman now owns 1,102,090 shares in the company, valued at $102,648,662.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 213,660 shares of company stock valued at $19,946,333. 0.50% of the stock is currently owned by insiders.

NIKE Stock Down 1.0 %

NYSE NKE opened at $75.27 on Thursday. The business has a fifty day moving average price of $92.58 and a two-hundred day moving average price of $98.22. The stock has a market capitalization of $113.61 billion, a PE ratio of 20.18, a PEG ratio of 1.85 and a beta of 1.01. NIKE, Inc. has a fifty-two week low of $74.29 and a fifty-two week high of $123.39. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.40 and a quick ratio of 1.69.

NIKE (NYSE:NKE) last posted its quarterly earnings results 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 analysts’ expectations of $12.86 billion. NIKE had a return on equity of 42.63% and a net margin of 11.10%. NIKE’s revenue was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.66 EPS. Equities analysts expect that NIKE, Inc. will post 3.32 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Monday, June 3rd were given a $0.37 dividend. The ex-dividend date was Monday, June 3rd. This represents a $1.48 dividend on an annualized basis and a yield of 1.97%. NIKE’s dividend payout ratio is currently 39.68%.

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.