NIKE, Inc. (NYSE:NKE) Shares Sold by Middleton & Co. Inc. MA

Middleton & Co. Inc. MA cut its stake in NIKE, Inc. (NYSE:NKE) by 7.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,344 shares of the footwear maker’s stock after selling 1,370 shares during the period. Middleton & Co. Inc. MA’s holdings in NIKE were worth $1,232,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Annapolis Financial Services LLC increased its stake in NIKE by 440.0% in the 1st 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 in the last quarter. True Wealth Design LLC increased its position in shares of 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 buying an additional 150 shares in the last quarter. Frank Rimerman Advisors LLC purchased a new position in shares of NIKE in the fourth quarter valued at $33,000. Core Wealth Advisors Inc. raised its stake in shares of 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 buying an additional 241 shares during the last quarter. Finally, Gold Investment Management Ltd. purchased a new stake in shares of NIKE in the 4th quarter worth about $36,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at NIKE

In related news, Director Robert Holmes Swan bought 2,941 shares of the firm’s stock in a transaction dated Friday, June 28th. The stock was bought at an average price of $77.02 per share, with a total value of $226,515.82. Following the completion of the transaction, the director now directly owns 20,946 shares of the company’s stock, valued at $1,613,260.92. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Robert Holmes Swan purchased 2,941 shares of NIKE stock in a transaction that occurred on Friday, June 28th. The shares were purchased at an average cost of $77.02 per share, with a total value of $226,515.82. Following the transaction, the director now owns 20,946 shares of the company’s stock, valued at approximately $1,613,260.92. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Mark G. Parker sold 110,000 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chairman now owns 1,102,090 shares of the company’s stock, valued at approximately $80,419,507.30. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by corporate insiders.

NIKE Stock Up 0.4 %

Shares of NYSE:NKE opened at $80.94 on Thursday. The stock has a 50-day simple moving average of $77.69 and a 200-day simple moving average of $87.28. The stock has a market capitalization of $122.17 billion, a P/E ratio of 21.70, a PEG ratio of 2.08 and a beta of 1.02. NIKE, Inc. has a 1 year low of $70.75 and a 1 year high of $123.39. 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 (NYSE:NKE) last released its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.16. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The company had revenue of $12.60 billion during the quarter, compared to the consensus estimate of $12.86 billion. During the same period in the previous year, the firm earned $0.66 earnings per share. NIKE’s revenue for the quarter was down 1.6% on a year-over-year basis. Equities analysts forecast that NIKE, Inc. will post 3.06 earnings per share for the current year.

NIKE Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd will be issued a $0.37 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.48 annualized dividend and a yield of 1.83%. NIKE’s dividend payout ratio is currently 39.68%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on NKE shares. Royal Bank of Canada dropped their target price on shares of NIKE from $100.00 to $75.00 and set a “sector perform” rating for the company in a report on Tuesday, July 2nd. Oppenheimer reissued an “outperform” rating and set a $120.00 price objective on shares of NIKE in a research note on Friday, June 28th. Stifel Nicolaus reduced their target price on NIKE from $88.00 to $79.00 and set a “hold” rating on the stock in a research note on Monday, August 26th. Piper Sandler reissued a “neutral” rating and set a $80.00 price target on shares of NIKE in a research report on Friday, August 23rd. Finally, Williams Trading raised NIKE from a “sell” rating to a “buy” rating and boosted their price target for the stock from $67.00 to $93.00 in a report on Friday, August 16th. Fifteen research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $95.74.

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.