Wealthspire Advisors LLC Has $986,000 Holdings in NIKE, Inc. (NYSE:NKE)

Wealthspire Advisors LLC decreased its stake in shares of NIKE, Inc. (NYSE:NKE) by 8.4% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 13,084 shares of the footwear maker’s stock after selling 1,207 shares during the period. Wealthspire Advisors LLC’s holdings in NIKE were worth $986,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the stock. Annapolis Financial Services LLC raised its position in shares of NIKE by 440.0% in the first quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock valued at $25,000 after purchasing an additional 220 shares during the period. True Wealth Design LLC raised its holdings in NIKE by 106.4% in the 4th quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock worth $32,000 after acquiring an additional 150 shares during the period. Core Wealth Advisors Inc. lifted its position in NIKE by 408.5% during the 4th quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock worth $33,000 after acquiring an additional 241 shares during the last quarter. Frank Rimerman Advisors LLC bought a new stake in NIKE during the fourth quarter valued at about $33,000. Finally, Gold Investment Management Ltd. acquired a new stake in shares of NIKE in the fourth quarter valued at about $36,000. 64.25% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on NKE shares. Jefferies Financial Group decreased their target price on NIKE from $90.00 to $80.00 in a research note on Friday, July 12th. Piper Sandler restated a “neutral” rating and issued a $80.00 price objective on shares of NIKE in a research note on Friday, August 23rd. Guggenheim cut their target price on shares of NIKE from $130.00 to $115.00 and set a “buy” rating for the company in a research note on Friday, June 28th. StockNews.com downgraded shares of NIKE from a “buy” rating to a “hold” rating in a report on Friday, June 21st. Finally, JPMorgan Chase & Co. restated a “neutral” rating and set a $83.00 price objective (down previously from $116.00) on shares of NIKE in a report on Friday, June 28th. Fifteen research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $95.59.

Insider Buying and Selling at NIKE

In related news, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction dated 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 completion of the sale, the chairman now directly owns 1,102,090 shares in the company, valued at $80,419,507.30. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at $80,419,507.30. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction 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 sale, the chairman now owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. The disclosure for this sale can be found here. Corporate insiders own 0.50% of the company’s stock.

NIKE Price Performance

Shares of NKE stock opened at $79.01 on Monday. The stock’s fifty day moving average is $77.23 and its 200-day moving average is $87.64. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.69 and a current ratio of 2.40. NIKE, Inc. has a 52 week low of $70.75 and a 52 week high of $123.39. The stock has a market capitalization of $118.46 billion, a PE ratio of 21.18, a PEG ratio of 2.08 and a beta of 1.02.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.16. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The firm had revenue of $12.60 billion for the quarter, compared to analyst estimates of $12.86 billion. During the same quarter in the prior year, the firm earned $0.66 EPS. The company’s revenue was down 1.6% on a year-over-year basis. Equities research analysts expect that NIKE, Inc. will post 3.06 EPS 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 issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 1.87%. The ex-dividend date of this dividend is Tuesday, September 3rd. NIKE’s dividend payout ratio is 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.