Federated Hermes Inc. Sells 297 Shares of NIKE, Inc. (NYSE:NKE)

Federated Hermes Inc. reduced its stake in NIKE, Inc. (NYSE:NKE) by 2.7% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,745 shares of the footwear maker’s stock after selling 297 shares during the period. Federated Hermes Inc.’s holdings in NIKE were worth $810,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Annapolis Financial Services LLC boosted its holdings 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 buying an additional 220 shares during the last quarter. True Wealth Design LLC raised its position in shares of NIKE by 106.4% in the 4th quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock valued at $32,000 after acquiring an additional 150 shares during the period. Frank Rimerman Advisors LLC acquired a new stake in shares of NIKE in the 4th quarter valued at approximately $33,000. Core Wealth Advisors Inc. boosted its stake 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. Finally, Gold Investment Management Ltd. acquired a new position in NIKE during the fourth quarter valued at approximately $36,000. 64.25% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. TD Cowen reduced their price target on shares of NIKE from $75.00 to $71.00 and set a “hold” rating on the stock in a research report on Thursday, July 25th. The Goldman Sachs Group reduced their target price on NIKE from $118.00 to $105.00 and set a “buy” rating on the stock in a report on Friday, June 28th. Truist Financial boosted their target price on NIKE from $81.00 to $85.00 and gave the company a “hold” rating in a research note on Friday. Morgan Stanley reaffirmed an “equal weight” rating and set a $79.00 price target on shares of NIKE in a research report on Friday. Finally, Stifel Nicolaus decreased their price objective on NIKE from $88.00 to $79.00 and set a “hold” rating for the company in a research report on Monday, August 26th. 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 presently has an average rating of “Moderate Buy” and an average price target of $96.15.

NIKE Stock Performance

NKE opened at $86.52 on Monday. NIKE, Inc. has a 12-month low of $70.75 and a 12-month high of $123.39. The stock has a market cap of $130.59 billion, a price-to-earnings ratio of 23.20, a PEG ratio of 2.08 and a beta of 1.02. The business has a 50 day moving average of $78.11 and a 200-day moving average of $86.99. The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.55.

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, beating analysts’ consensus estimates of $0.85 by $0.16. The company 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 business’s revenue was down 1.6% on a year-over-year basis. During the same period last year, the firm posted $0.66 earnings per share. On average, equities research analysts expect that NIKE, Inc. will post 3.06 earnings per share for the current year.

NIKE Announces Dividend

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 paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 1.71%. The ex-dividend date is Tuesday, September 3rd. NIKE’s dividend payout ratio (DPR) is currently 39.68%.

Insider Buying and Selling

In other news, 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 transaction of $8,026,700.00. Following the sale, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at approximately $80,419,507.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the business’s 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 completion of the transaction, the chairman now 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 SEC, which can be accessed through this hyperlink. Also, Chairman Mark G. Parker sold 110,000 shares of the company’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 completion of the transaction, the chairman now directly 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 company insiders.

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.