Cim LLC Sells 116,659 Shares of NIKE, Inc. (NYSE:NKE)

Cim LLC trimmed its position in shares of NIKE, Inc. (NYSE:NKE) by 85.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,286 shares of the footwear maker’s stock after selling 116,659 shares during the period. Cim LLC’s holdings in NIKE were worth $1,640,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of NKE. Eagle Asset Management Inc. lifted its holdings in NIKE by 19.2% in the 4th quarter. Eagle Asset Management Inc. now owns 7,816 shares of the footwear maker’s stock worth $849,000 after buying an additional 1,257 shares during the period. Jones Financial Companies Lllp lifted its stake in NIKE by 3.6% in the fourth quarter. Jones Financial Companies Lllp now owns 3,662 shares of the footwear maker’s stock worth $398,000 after acquiring an additional 126 shares during the period. CWA Asset Management Group LLC boosted its holdings in NIKE by 26.4% in the fourth quarter. CWA Asset Management Group LLC now owns 8,962 shares of the footwear maker’s stock valued at $973,000 after acquiring an additional 1,873 shares in the last quarter. Belpointe Asset Management LLC increased its position in NIKE by 35.6% during the 4th quarter. Belpointe Asset Management LLC now owns 3,254 shares of the footwear maker’s stock valued at $353,000 after purchasing an additional 855 shares during the period. Finally, Edge Capital Group LLC raised its holdings in NIKE by 3.1% in the 4th quarter. Edge Capital Group LLC now owns 9,613 shares of the footwear maker’s stock worth $1,044,000 after purchasing an additional 289 shares in the last quarter. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on NKE shares. Jefferies Financial Group lifted their target price on shares of NIKE from $80.00 to $85.00 and gave the company a “hold” rating in a research note on Monday. Wedbush reduced their target price on NIKE from $115.00 to $97.00 and set an “outperform” rating on the stock in a report on Friday, June 28th. JPMorgan Chase & Co. lowered their target price on NIKE from $83.00 to $80.00 and set a “neutral” rating for the company in a research note on Monday, September 23rd. Oppenheimer reaffirmed an “outperform” rating and issued a $120.00 price target on shares of NIKE in a research note on Friday, June 28th. Finally, Stifel Nicolaus lowered 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 equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $96.70.

Insider Activity

In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the company’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 completion of the sale, 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 filing with the SEC, which can be accessed through this link. 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 completion of the sale, the chairman now owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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 completion of the transaction, the chairman now directly owns 1,102,090 shares in the company, valued at $80,419,507.30. The disclosure for this sale can be found here. Insiders own 0.50% of the company’s stock.

NIKE Price Performance

NYSE NKE opened at $89.13 on Wednesday. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.40 and a quick ratio of 1.69. NIKE, Inc. has a 1-year low of $70.75 and a 1-year high of $123.39. The stock has a market capitalization of $134.53 billion, a price-to-earnings ratio of 23.90, a PEG ratio of 2.30 and a beta of 1.02. The business’s fifty day moving average price is $80.26 and its 200-day moving average price is $86.41.

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd were given a $0.37 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $1.48 annualized dividend and a yield of 1.66%. 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.