JLB & Associates Inc. Decreases Stake in NIKE, Inc. (NYSE:NKE)

JLB & Associates Inc. trimmed its position in shares of NIKE, Inc. (NYSE:NKE) by 28.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 66,039 shares of the footwear maker’s stock after selling 26,101 shares during the period. JLB & Associates Inc.’s holdings in NIKE were worth $5,838,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Ables Iannone Moore & Associates Inc. purchased a new position in NIKE in the third quarter valued at $293,000. Jacobs & Co. CA boosted its holdings in shares of NIKE by 8.5% in the 3rd quarter. Jacobs & Co. CA now owns 150,818 shares of the footwear maker’s stock valued at $13,332,000 after buying an additional 11,877 shares in the last quarter. Mattson Financial Services LLC purchased a new position in shares of NIKE in the 2nd quarter valued at $887,000. Centaurus Financial Inc. lifted its position in NIKE by 180.8% in the second quarter. Centaurus Financial Inc. now owns 4,490 shares of the footwear maker’s stock valued at $338,000 after acquiring an additional 2,891 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its stake in NIKE by 625.4% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 76,900 shares of the footwear maker’s stock valued at $5,796,000 after acquiring an additional 66,299 shares in the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on NKE. Sanford C. Bernstein reduced their target price on NIKE from $112.00 to $109.00 and set an “outperform” rating for the company in a report on Thursday, September 19th. Jefferies Financial Group lifted their price target on shares of NIKE from $80.00 to $85.00 and gave the company a “hold” rating in a research report on Monday. Wedbush dropped their target price on shares of NIKE from $115.00 to $97.00 and set an “outperform” rating for the company in a report on Friday, June 28th. Oppenheimer reaffirmed an “outperform” rating and issued a $120.00 price target on shares of NIKE in a report on Friday, June 28th. Finally, Truist Financial cut their price target on NIKE from $85.00 to $83.00 and set a “hold” rating for the company in a report on Wednesday. Fifteen analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, NIKE presently has an average rating of “Moderate Buy” and a consensus price target of $96.04.

Insiders Place Their Bets

In related news, Chairman Mark G. Parker sold 52,487 shares of the business’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 transaction, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at $80,435,628. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other NIKE news, 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 transaction of $8,026,700.00. Following the completion of the sale, the chairman now owns 1,102,090 shares of the company’s stock, valued at $80,419,507.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Mark G. Parker sold 52,487 shares of NIKE 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 transaction, the chairman now directly owns 1,031,226 shares in the company, 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 Stock Down 6.8 %

NIKE stock opened at $83.10 on Thursday. NIKE, Inc. has a one year low of $70.75 and a one year high of $123.39. The firm has a market capitalization of $125.43 billion, a P/E ratio of 22.28, a P/E/G ratio of 2.30 and a beta of 1.02. The company has a 50-day simple moving average of $80.50 and a 200-day simple moving average of $86.39. 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 posted its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.18. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The company had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $11.64 billion. During the same quarter in the prior year, the company earned $0.94 earnings per share. The firm’s revenue was down 10.4% on a year-over-year basis. As a group, equities analysts expect that NIKE, Inc. will post 3.04 earnings per share for the current year.

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd were paid a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.78%. The ex-dividend date was Tuesday, September 3rd. NIKE’s dividend payout ratio is currently 39.68%.

NIKE Company 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.