Harbor Investment Advisory LLC Sells 310 Shares of NIKE, Inc. $NKE

Harbor Investment Advisory LLC decreased its position in shares of NIKE, Inc. (NYSE:NKE) by 1.1% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 28,042 shares of the footwear maker’s stock after selling 310 shares during the quarter. Harbor Investment Advisory LLC’s holdings in NIKE were worth $1,992,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Spire Wealth Management raised its holdings in NIKE by 4.4% during the 1st quarter. Spire Wealth Management now owns 9,872 shares of the footwear maker’s stock worth $627,000 after purchasing an additional 416 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich raised its holdings in NIKE by 0.6% during the 1st quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,008,340 shares of the footwear maker’s stock worth $69,932,000 after purchasing an additional 5,601 shares during the last quarter. Mackenzie Financial Corp grew its position in shares of NIKE by 75.1% during the 4th quarter. Mackenzie Financial Corp now owns 539,650 shares of the footwear maker’s stock worth $40,835,000 after buying an additional 231,417 shares during the period. Clal Insurance Enterprises Holdings Ltd acquired a new stake in shares of NIKE during the 1st quarter worth approximately $25,963,000. Finally, Olstein Capital Management L.P. grew its position in shares of NIKE by 42.2% during the 1st quarter. Olstein Capital Management L.P. now owns 91,000 shares of the footwear maker’s stock worth $5,777,000 after buying an additional 27,000 shares during the period. Institutional investors own 64.25% of the company’s stock.

NIKE Stock Performance

NYSE NKE opened at $73.12 on Friday. The company has a fifty day simple moving average of $75.40 and a 200 day simple moving average of $67.81. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $90.62. The company has a current ratio of 2.21, a quick ratio of 1.50 and a debt-to-equity ratio of 0.60. The company has a market cap of $107.98 billion, a P/E ratio of 33.85, a PEG ratio of 2.70 and a beta of 1.24.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.02. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The business had revenue of $11.10 billion during the quarter, compared to the consensus estimate of $10.69 billion. During the same quarter last year, the firm posted $0.99 EPS. NIKE’s revenue was down 11.9% compared to the same quarter last year. Sell-side analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Tuesday, September 2nd. NIKE’s payout ratio is currently 74.07%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Truist Financial reduced their price objective on shares of NIKE from $82.00 to $73.00 and set a “buy” rating for the company in a research report on Tuesday, June 24th. Barclays raised their price objective on shares of NIKE from $53.00 to $64.00 and gave the stock an “equal weight” rating in a research report on Friday, June 27th. Argus raised shares of NIKE to a “buy” rating in a research report on Sunday, July 6th. Wall Street Zen raised shares of NIKE from a “sell” rating to a “hold” rating in a research report on Saturday, September 6th. Finally, Cowen raised shares of NIKE from a “hold” rating to a “buy” rating in a research report on Wednesday. Three investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $78.67.

Insider Transactions at NIKE

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $72.29, for a total transaction of $7,951,900.00. Following the transaction, the chairman directly owned 842,361 shares of the company’s stock, valued at $60,894,276.69. The trade was a 11.55% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.80% 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.