Signaturefd LLC Sells 3,968 Shares of NIKE, Inc. (NYSE:NKE)

Signaturefd LLC lowered its holdings in shares of NIKE, Inc. (NYSE:NKE) by 19.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,194 shares of the footwear maker’s stock after selling 3,968 shares during the period. Signaturefd LLC’s holdings in NIKE were worth $1,432,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Advisors Asset Management Inc. lifted its position in shares of NIKE by 86.0% during the 1st quarter. Advisors Asset Management Inc. now owns 20,957 shares of the footwear maker’s stock worth $1,970,000 after buying an additional 9,689 shares during the period. FORA Capital LLC bought a new position in shares of NIKE during the first quarter valued at $3,412,000. Cetera Advisors LLC boosted its stake in shares of NIKE by 85.5% in the 1st quarter. Cetera Advisors LLC now owns 88,299 shares of the footwear maker’s stock valued at $8,298,000 after purchasing an additional 40,704 shares in the last quarter. Koshinski Asset Management Inc. bought a new stake in shares of NIKE in the 1st quarter worth about $713,000. Finally, New Mexico Educational Retirement Board increased its position in shares of NIKE by 15.7% during the 1st quarter. New Mexico Educational Retirement Board now owns 74,248 shares of the footwear maker’s stock worth $6,978,000 after purchasing an additional 10,100 shares in the last quarter. Institutional investors own 64.25% of the company’s stock.

Insider Activity

In related 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 sale, the chairman now directly owns 1,031,226 shares in the company, valued at $80,435,628. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on NKE shares. Piper Sandler restated a “neutral” rating and issued a $80.00 price target on shares of NIKE in a research report on Friday, September 20th. Williams Trading upgraded NIKE from a “sell” rating to a “buy” rating and increased their price target for the stock from $67.00 to $93.00 in a research report on Friday, August 16th. Bank of America cut their price objective on NIKE from $104.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, October 2nd. Raymond James reissued a “market perform” rating on shares of NIKE in a research note on Friday, June 28th. Finally, Citigroup lowered their target price on NIKE from $115.00 to $102.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Fourteen investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, NIKE currently has a consensus rating of “Moderate Buy” and an average price target of $96.56.

NIKE Price Performance

Shares of NKE stock opened at $80.04 on Thursday. The firm has a market capitalization of $120.81 billion, a price-to-earnings ratio of 21.46, a price-to-earnings-growth ratio of 1.96 and a beta of 1.02. NIKE, Inc. has a 12-month low of $70.75 and a 12-month high of $123.39. 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 firm has a fifty day moving average of $82.86 and a 200-day moving average of $85.10.

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

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd were issued 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 1.85%. NIKE’s dividend payout ratio (DPR) is currently 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.