Thrivent Financial for Lutherans Sells 4,308 Shares of NIKE, Inc. (NYSE:NKE)

Thrivent Financial for Lutherans cut its holdings in NIKE, Inc. (NYSE:NKE) by 6.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 63,574 shares of the footwear maker’s stock after selling 4,308 shares during the period. Thrivent Financial for Lutherans’ holdings in NIKE were worth $4,792,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Annapolis Financial Services LLC lifted its position in NIKE by 440.0% during 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 in the last quarter. True Wealth Design LLC grew its stake in shares of NIKE by 106.4% during 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 purchased a new stake in NIKE in the 4th quarter worth approximately $33,000. Core Wealth Advisors Inc. raised 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 period. Finally, Gold Investment Management Ltd. purchased a new position in NIKE during the fourth quarter valued at approximately $36,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Insider Transactions at NIKE

In related news, Chairman Mark G. Parker sold 52,487 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total value of $4,093,986.00. Following the transaction, the chairman now owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 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 stock was sold at an average price of $78.00, for a total value of $4,093,986.00. Following the completion of the sale, the chairman now owns 1,031,226 shares in the company, valued at $80,435,628. 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 110,000 shares of the firm’s 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 transaction, the chairman now owns 1,102,090 shares in the company, valued at $80,419,507.30. The disclosure for this sale can be found here. Corporate insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Guggenheim reduced their price objective 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. Royal Bank of Canada increased their price target on NIKE from $75.00 to $85.00 and gave the stock a “sector perform” rating in a research note on Wednesday. Piper Sandler reissued a “neutral” rating and set a $80.00 price target on shares of NIKE in a report on Friday, September 20th. Bank of America reaffirmed a “buy” rating and issued a $104.00 price objective on shares of NIKE in a research note on Monday, September 23rd. Finally, Barclays boosted their price target on NIKE from $80.00 to $84.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 18th. Fifteen analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, NIKE has a consensus rating of “Moderate Buy” and a consensus target price of $96.52.

NIKE Stock Performance

Shares of NYSE:NKE opened at $89.43 on Friday. The company has a current ratio of 2.40, a quick ratio of 1.69 and a debt-to-equity ratio of 0.55. NIKE, Inc. has a 12 month low of $70.75 and a 12 month high of $123.39. The company has a market capitalization of $134.98 billion, a price-to-earnings ratio of 23.98, a PEG ratio of 2.30 and a beta of 1.02. The firm’s 50-day moving average is $79.67 and its 200 day moving average is $86.77.

NIKE (NYSE:NKE) last released its earnings results on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The firm had revenue of $12.60 billion for the quarter, compared to analysts’ expectations of $12.86 billion. During the same quarter in the prior year, the firm posted $0.66 earnings per share. The company’s quarterly revenue was down 1.6% on a year-over-year basis. Research analysts predict that NIKE, Inc. will post 3.04 EPS for the current year.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd will be paid a $0.37 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $1.48 dividend on an annualized basis and a yield of 1.65%. NIKE’s 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.