Brown Shipley& Co Ltd Reduces Stock Position in NIKE, Inc. $NKE

Brown Shipley& Co Ltd decreased its holdings in NIKE, Inc. (NYSE:NKE) by 63.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,934 shares of the footwear maker’s stock after selling 33,185 shares during the quarter. NIKE makes up approximately 0.7% of Brown Shipley& Co Ltd’s holdings, making the stock its 23rd largest holding. Brown Shipley& Co Ltd’s holdings in NIKE were worth $1,345,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Spire Wealth Management grew its holdings in NIKE by 4.4% in the 1st quarter. Spire Wealth Management now owns 9,872 shares of the footwear maker’s stock valued at $627,000 after buying an additional 416 shares during the period. Bank Julius Baer & Co. Ltd Zurich grew its holdings in NIKE by 0.6% in the 1st 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 period. Clal Insurance Enterprises Holdings Ltd purchased a new stake in NIKE in the 1st quarter valued at about $25,963,000. BROOKFIELD Corp ON grew its holdings in NIKE by 36.2% in the 1st quarter. BROOKFIELD Corp ON now owns 658,598 shares of the footwear maker’s stock valued at $41,808,000 after buying an additional 175,000 shares during the period. Finally, Olstein Capital Management L.P. grew its holdings in NIKE by 42.2% in the 1st quarter. Olstein Capital Management L.P. now owns 91,000 shares of the footwear maker’s stock valued at $5,777,000 after buying an additional 27,000 shares during the period. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Insider Activity

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $72.29, for a total value 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. This represents a 11.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.80% of the stock is currently owned by insiders.

Analysts Set New Price Targets

NKE has been the subject of several recent analyst reports. UBS Group set a $71.00 price target on NIKE and gave the company a “neutral” rating in a report on Friday, September 19th. TD Cowen raised NIKE from a “hold” rating to a “buy” rating and lifted their price objective for the company from $62.00 to $85.00 in a research note on Wednesday, September 10th. Truist Financial reduced their price objective on NIKE from $82.00 to $73.00 and set a “buy” rating on the stock in a research note on Tuesday, June 24th. Robert W. Baird lifted their price objective on NIKE from $80.00 to $88.00 and gave the company an “outperform” rating in a research note on Friday, June 27th. Finally, Royal Bank Of Canada raised NIKE from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from $76.00 to $90.00 in a research note on Thursday, September 18th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, NIKE has a consensus rating of “Moderate Buy” and a consensus target price of $79.62.

NIKE Stock Performance

NIKE stock opened at $69.72 on Wednesday. The stock’s 50 day moving average price is $74.78 and its 200 day moving average price is $67.27. The firm has a market capitalization of $102.97 billion, a PE ratio of 32.28, a price-to-earnings-growth ratio of 2.54 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. NIKE, Inc. has a one year low of $52.28 and a one year high of $89.64.

NIKE (NYSE:NKE) last released its quarterly earnings results on Tuesday, September 30th. The footwear maker reported $0.49 EPS for the quarter, topping the consensus estimate of $0.27 by $0.22. The firm had revenue of $11.72 billion for the quarter, compared to analyst estimates of $10.96 billion. NIKE had a return on equity of 23.33% and a net margin of 6.95%.NIKE’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.70 EPS. As a group, sell-side analysts expect that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Tuesday, September 2nd. NIKE’s dividend payout ratio is presently 74.07%.

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.