Forte Capital LLC ADV Sells 373 Shares of NIKE, Inc. $NKE

Forte Capital LLC ADV cut its holdings in shares of NIKE, Inc. (NYSE:NKE) by 1.3% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 27,569 shares of the footwear maker’s stock after selling 373 shares during the quarter. Forte Capital LLC ADV’s holdings in NIKE were worth $1,959,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the stock. Spire Wealth Management raised its position in shares of NIKE by 4.4% in the 1st quarter. Spire Wealth Management now owns 9,872 shares of the footwear maker’s stock worth $627,000 after acquiring an additional 416 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich raised its stake in NIKE by 0.6% during the first quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,008,340 shares of the footwear maker’s stock valued at $69,932,000 after buying an additional 5,601 shares during the last quarter. Mackenzie Financial Corp grew its stake in shares of NIKE by 75.1% in the fourth quarter. Mackenzie Financial Corp now owns 539,650 shares of the footwear maker’s stock worth $40,835,000 after acquiring an additional 231,417 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd bought a new position in shares of NIKE during the first quarter valued at $25,963,000. Finally, BROOKFIELD Corp ON raised its position in shares of NIKE by 36.2% in the 1st quarter. BROOKFIELD Corp ON now owns 658,598 shares of the footwear maker’s stock worth $41,808,000 after purchasing an additional 175,000 shares during the last quarter. Institutional investors own 64.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. The Goldman Sachs Group increased their price objective on shares of NIKE from $72.00 to $81.00 and gave the company a “buy” rating in a research report on Friday, June 27th. Evercore ISI cut their price target on shares of NIKE from $97.00 to $75.00 and set an “outperform” rating on the stock in a report on Tuesday, June 24th. Needham & Company LLC boosted their price objective on shares of NIKE from $66.00 to $78.00 and gave the stock a “buy” rating in a report on Friday, June 27th. DZ Bank downgraded NIKE from a “buy” rating to a “hold” rating and set a $76.00 target price on the stock. in a research note on Thursday, July 10th. Finally, UBS Group set a $71.00 target price on NIKE and gave the stock a “neutral” rating in a report on Friday. Three research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $79.04.

Insiders Place Their Bets

In other news, Chairman Mark G. Parker sold 86,078 shares of the company’s stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $75.93, for a total transaction of $6,535,902.54. Following the transaction, the chairman owned 744,988 shares of the company’s stock, valued at approximately $56,566,938.84. This represents a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.80% of the stock is owned by company insiders.

NIKE Stock Up 0.6%

NKE opened at $71.29 on Tuesday. The stock has a market cap of $105.29 billion, a price-to-earnings ratio of 33.01, a price-to-earnings-growth ratio of 2.57 and a beta of 1.24. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.50 and a current ratio of 2.21. The firm’s fifty day moving average is $75.16 and its 200 day moving average is $67.38. NIKE, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $90.62.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, June 26th. The footwear maker reported $0.14 EPS for the quarter, beating the consensus estimate of $0.12 by $0.02. The business had revenue of $11.10 billion for the quarter, compared to the consensus estimate of $10.69 billion. NIKE had a return on equity of 23.33% and a net margin of 6.95%.The business’s revenue was down 11.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.99 earnings per share. On average, sell-side analysts forecast 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 paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Tuesday, September 2nd. NIKE’s payout ratio is presently 74.07%.

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.