NIKE, Inc. (NYSE:NKE) Stock Position Cut by Anchor Investment Management LLC

Anchor Investment Management LLC decreased its stake in shares of NIKE, Inc. (NYSE:NKE) by 6.4% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 2,060 shares of the footwear maker’s stock after selling 140 shares during the period. Anchor Investment Management LLC’s holdings in NIKE were worth $155,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Cim LLC acquired a new position in NIKE during the 4th quarter valued at about $14,275,000. TKG Advisors LLC acquired a new position in NIKE during the 4th quarter valued at about $1,012,000. Spartan Planning & Wealth Management acquired a new position in NIKE during the 4th quarter valued at about $182,000. Advisors Asset Management Inc. increased its stake in NIKE by 86.0% during the 1st quarter. Advisors Asset Management Inc. now owns 20,957 shares of the footwear maker’s stock valued at $1,970,000 after buying an additional 9,689 shares during the period. Finally, Enzi Wealth acquired a new position in NIKE during the 4th quarter valued at about $520,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Stock Performance

Shares of NKE opened at $82.26 on Friday. NIKE, Inc. has a 52 week low of $70.75 and a 52 week high of $123.39. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.69 and a current ratio of 2.40. The company has a market capitalization of $124.15 billion, a PE ratio of 22.05, a PEG ratio of 2.30 and a beta of 1.02. The company’s 50 day moving average price is $80.90 and its 200 day moving average price is $86.24.

NIKE (NYSE:NKE) last posted 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 11.10% and a return on equity of 42.63%. The business had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $11.64 billion. During the same period in the previous year, the company posted $0.94 EPS. NIKE’s revenue was down 10.4% on a year-over-year basis. Research analysts expect that NIKE, Inc. will post 3.04 EPS for the current fiscal year.

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. 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 currently 39.68%.

Analyst Upgrades and Downgrades

Several research firms have commented on NKE. Jefferies Financial Group raised 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, September 30th. Guggenheim lowered their target price on shares of NIKE from $115.00 to $110.00 and set a “buy” rating on the stock in a research note on Wednesday. Piper Sandler restated a “neutral” rating and set a $80.00 price objective on shares of NIKE in a research report on Friday, September 20th. Daiwa America lowered shares of NIKE from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Finally, BMO Capital Markets reduced their price objective on shares of NIKE from $118.00 to $100.00 and set an “outperform” rating for the company in a research report on Friday, June 28th. Fifteen research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $96.04.

Insider Transactions at NIKE

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 of the company’s stock, valued at approximately $80,435,628. The trade was a 0.00 % decrease in their position. 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 firm’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 owns 1,031,226 shares in the company, valued at approximately $80,435,628. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction on Thursday, July 18th. The shares were 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 directly owns 1,102,090 shares of the company’s stock, valued at approximately $80,419,507.30. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.50% of the company’s stock.

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.