Founders Financial Securities LLC Sells 4,367 Shares of NIKE, Inc. (NYSE:NKE)

Founders Financial Securities LLC trimmed its holdings in shares of NIKE, Inc. (NYSE:NKE) by 52.9% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,889 shares of the footwear maker’s stock after selling 4,367 shares during the quarter. Founders Financial Securities LLC’s holdings in NIKE were worth $293,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of the business. Octavia Wealth Advisors LLC bought a new position in shares of NIKE during the 2nd quarter worth approximately $458,000. Magnus Financial Group LLC grew its stake in shares of NIKE by 3.1% during the 2nd quarter. Magnus Financial Group LLC now owns 18,062 shares of the footwear maker’s stock worth $1,361,000 after acquiring an additional 547 shares in the last quarter. Legacy Capital Wealth Partners LLC bought a new position in shares of NIKE during the 2nd quarter worth approximately $330,000. Autumn Glory Partners LLC grew its stake in shares of NIKE by 42.3% during the 2nd quarter. Autumn Glory Partners LLC now owns 22,174 shares of the footwear maker’s stock worth $1,671,000 after acquiring an additional 6,591 shares in the last quarter. Finally, Mcdonald Capital Investors Inc. CA grew its stake in shares of NIKE by 110.3% during the 2nd quarter. Mcdonald Capital Investors Inc. CA now owns 887,743 shares of the footwear maker’s stock worth $66,909,000 after acquiring an additional 465,646 shares in the last quarter. 64.25% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

NKE has been the subject of several research reports. 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 note on Friday, June 28th. Wedbush decreased their price target on shares of NIKE from $115.00 to $97.00 and set an “outperform” rating for the company in a research note on Friday, June 28th. Williams Trading raised shares of NIKE from a “sell” rating to a “buy” rating and raised their target price for the company from $67.00 to $93.00 in a research note on Friday, August 16th. Truist Financial decreased their target price on shares of NIKE from $99.00 to $81.00 and set a “hold” rating for the company in a research note on Friday, June 28th. Finally, Bank of America decreased their target price on shares of NIKE from $113.00 to $104.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Fifteen equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, NIKE currently has an average rating of “Moderate Buy” and an average target price of $95.59.

NIKE Trading Down 0.2 %

Shares of NKE stock opened at $80.83 on Friday. The stock has a market cap of $122.00 billion, a P/E ratio of 21.67, a price-to-earnings-growth ratio of 2.19 and a beta of 1.01. NIKE, Inc. has a 1 year low of $70.75 and a 1 year high of $123.39. The company has a current ratio of 2.40, a quick ratio of 1.69 and a debt-to-equity ratio of 0.55. The stock has a 50 day simple moving average of $76.83 and a 200 day simple moving average of $88.94.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.16. The firm 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%. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.66 EPS. On average, research analysts predict that NIKE, Inc. will post 3.1 earnings per share for the current fiscal year.

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd will be paid a dividend of $0.37 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $1.48 dividend on an annualized basis and a yield of 1.83%. NIKE’s payout ratio is 39.68%.

Insider Buying and Selling at NIKE

In other news, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the completion of the sale, the chairman now owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Chairman Mark G. Parker sold 52,487 shares of the business’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the completion of the transaction, the chairman now owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Mark G. Parker sold 110,000 shares of the company’s stock in a transaction 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 owns 1,102,090 shares of the company’s stock, valued at $80,419,507.30. The disclosure for this sale can be found here. Insiders own 0.50% of the company’s stock.

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.