Claro Advisors LLC Sells 12,410 Shares of NIKE, Inc. (NYSE:NKE)

Claro Advisors LLC lowered its position in shares of NIKE, Inc. (NYSE:NKE) by 75.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,951 shares of the footwear maker’s stock after selling 12,410 shares during the period. Claro Advisors LLC’s holdings in NIKE were worth $349,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Ascent Wealth Partners LLC lifted its stake in NIKE by 0.4% during the first quarter. Ascent Wealth Partners LLC now owns 28,513 shares of the footwear maker’s stock worth $2,680,000 after purchasing an additional 115 shares during the last quarter. Condor Capital Management boosted its holdings in NIKE by 0.4% during the 1st quarter. Condor Capital Management now owns 26,079 shares of the footwear maker’s stock valued at $2,451,000 after acquiring an additional 116 shares during the period. Lodestone Wealth Management LLC boosted its holdings in NIKE by 5.5% during the 1st quarter. Lodestone Wealth Management LLC now owns 2,248 shares of the footwear maker’s stock valued at $211,000 after acquiring an additional 118 shares during the period. Nvwm LLC boosted its holdings in NIKE by 1.0% during the 1st quarter. Nvwm LLC now owns 11,568 shares of the footwear maker’s stock valued at $1,091,000 after acquiring an additional 120 shares during the period. Finally, Pitcairn Co. boosted its holdings in NIKE by 0.5% during the 1st quarter. Pitcairn Co. now owns 29,067 shares of the footwear maker’s stock valued at $2,732,000 after acquiring an additional 132 shares during the period. Institutional investors own 64.25% of the company’s stock.

NIKE Stock Performance

NIKE stock opened at $82.92 on Friday. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $125.16 billion, a P/E ratio of 22.23, a PEG ratio of 1.96 and a beta of 1.02. The stock’s 50 day moving average is $82.64 and its 200 day moving average is $85.28. NIKE, Inc. has a twelve month low of $70.75 and a twelve month high of $123.39.

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

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd were paid a dividend of $0.37 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $1.48 annualized dividend and a yield of 1.78%. NIKE’s dividend payout ratio is 39.68%.

Insider Buying and Selling at NIKE

In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the stock in a transaction on 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 sale, the chairman now directly 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on NKE shares. Evercore ISI dropped their target price on NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a report on Wednesday, October 2nd. KeyCorp restated a “sector weight” rating on shares of NIKE in a report on Friday, June 28th. Wedbush dropped their target price on NIKE from $115.00 to $97.00 and set an “outperform” rating for the company in a report on Friday, June 28th. Truist Financial upgraded NIKE from a “hold” rating to a “buy” rating and increased their target price for the company from $83.00 to $97.00 in a report on Thursday, October 10th. Finally, TD Cowen upped their price target on NIKE from $71.00 to $78.00 and gave the company a “hold” rating in a research report on Wednesday, October 2nd. Fourteen equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, NIKE has a consensus rating of “Moderate Buy” and an average price target of $96.56.

NIKE Company 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.