Bogart Wealth LLC Trims Stock Position in NIKE, Inc. (NYSE:NKE)

Bogart Wealth LLC trimmed its holdings in NIKE, Inc. (NYSE:NKE) by 98.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,543 shares of the footwear maker’s stock after selling 81,998 shares during the quarter. Bogart Wealth LLC’s holdings in NIKE were worth $136,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in NIKE by 0.5% during the first quarter. Vanguard Group Inc. now owns 110,044,821 shares of the footwear maker’s stock worth $10,342,012,000 after acquiring an additional 501,792 shares during the period. Legal & General Group Plc grew its stake in shares of NIKE by 5.5% during the 2nd quarter. Legal & General Group Plc now owns 11,049,294 shares of the footwear maker’s stock worth $832,785,000 after purchasing an additional 571,544 shares during the period. Jennison Associates LLC lifted its stake in shares of NIKE by 45.6% in the 1st quarter. Jennison Associates LLC now owns 8,859,580 shares of the footwear maker’s stock valued at $832,623,000 after purchasing an additional 2,775,510 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in shares of NIKE by 0.9% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 6,025,616 shares of the footwear maker’s stock valued at $454,151,000 after purchasing an additional 52,500 shares during the period. Finally, Longview Partners Guernsey LTD acquired a new stake in NIKE during the first quarter valued at $533,533,000. 64.25% of the stock is owned by institutional investors and hedge funds.

NIKE Price Performance

NKE stock opened at $79.05 on Friday. NIKE, Inc. has a 52-week low of $70.75 and a 52-week high of $123.39. The business has a fifty day moving average of $82.86 and a two-hundred day moving average of $85.10. The stock has a market cap of $118.52 billion, a price-to-earnings ratio of 22.65, a price-to-earnings-growth ratio of 1.95 and a beta of 1.02. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last posted its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.18. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The company had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $11.64 billion. During the same quarter in the prior year, the company posted $0.94 earnings per share. NIKE’s revenue for the quarter was down 10.4% compared to the same quarter last year. As a group, research analysts anticipate that NIKE, Inc. will post 2.78 earnings per share for the current year.

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd were issued a $0.37 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.48 annualized dividend and a yield of 1.87%. NIKE’s dividend payout ratio (DPR) is presently 42.41%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on NKE. UBS Group increased their target price on shares of NIKE from $78.00 to $82.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. TD Cowen increased their price target on NIKE from $71.00 to $78.00 and gave the stock a “hold” rating in a research report on Wednesday, October 2nd. Piper Sandler restated a “neutral” rating and issued a $80.00 price objective on shares of NIKE in a research report on Friday, September 20th. Citigroup dropped their price target on shares of NIKE from $115.00 to $102.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. Finally, Evercore ISI reduced their price objective on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a research report on Wednesday, October 2nd. Fourteen investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $96.56.

Insider Buying and Selling at NIKE

In related news, Chairman Mark G. Parker sold 52,487 shares of the business’s stock in a transaction 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 sale, the chairman now owns 1,031,226 shares in the company, valued at approximately $80,435,628. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.10% of the stock is owned by corporate insiders.

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.