NIKE, Inc. (NYSE:NKE) Shares Sold by Ritholtz Wealth Management

Ritholtz Wealth Management trimmed its holdings in shares of NIKE, Inc. (NYSE:NKE) by 31.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,702 shares of the footwear maker’s stock after selling 3,496 shares during the period. Ritholtz Wealth Management’s holdings in NIKE were worth $681,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Annapolis Financial Services LLC raised its stake in NIKE by 440.0% during the first 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. Transcendent Capital Group LLC raised its position in shares of NIKE by 97.6% during the 1st quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker’s stock worth $38,000 after purchasing an additional 200 shares during the period. Bruce G. Allen Investments LLC lifted its holdings in shares of NIKE by 272.5% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock worth $39,000 after purchasing an additional 376 shares during the last quarter. Scarborough Advisors LLC acquired a new position in NIKE during the 4th quarter valued at approximately $42,000. Finally, Triad Wealth Partners LLC bought a new position in NIKE during the 2nd quarter worth $44,000. 64.25% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of NIKE stock in a transaction dated 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 transaction, the chairman now owns 1,031,226 shares of the company’s stock, valued at $80,435,628. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available 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 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 in the company, valued at $80,435,628. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Mark G. Parker sold 110,000 shares of the 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 approximately $80,419,507.30. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. UBS Group raised their target price on NIKE from $78.00 to $82.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Telsey Advisory Group cut their price objective on shares of NIKE from $100.00 to $96.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 2nd. Royal Bank of Canada decreased their target price on shares of NIKE from $85.00 to $82.00 and set a “sector perform” rating for the company in a research report on Wednesday, October 2nd. BMO Capital Markets dropped their price target on shares of NIKE from $118.00 to $100.00 and set an “outperform” rating on the stock in a research note on Friday, June 28th. Finally, Piper Sandler reiterated a “neutral” rating and set a $80.00 price objective on shares of NIKE in a research report on Friday, September 20th. Fourteen research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, NIKE presently has an average rating of “Moderate Buy” and a consensus target price of $96.56.

NIKE Price Performance

NKE stock opened at $82.14 on Wednesday. NIKE, Inc. has a one year low of $70.75 and a one year high of $123.39. The firm has a 50-day moving average of $82.05 and a two-hundred day moving average of $85.41. The firm has a market capitalization of $123.98 billion, a PE ratio of 22.02, a P/E/G ratio of 1.96 and a beta of 1.02. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, beating the consensus estimate of $0.52 by $0.18. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The business had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $11.64 billion. During the same quarter in the prior year, the firm earned $0.94 EPS. The firm’s quarterly revenue was down 10.4% on a year-over-year basis. On average, analysts forecast that NIKE, Inc. will post 2.8 earnings per share for the current year.

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd were given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 1.80%. The ex-dividend date of this dividend was Tuesday, September 3rd. NIKE’s payout ratio is 39.68%.

About NIKE

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.