CFM Wealth Partners LLC Has $246,000 Position in NIKE, Inc. $NKE

CFM Wealth Partners LLC reduced its stake in NIKE, Inc. (NYSE:NKE) by 7.0% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 3,469 shares of the footwear maker’s stock after selling 260 shares during the quarter. CFM Wealth Partners LLC’s holdings in NIKE were worth $246,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NKE. Stone House Investment Management LLC acquired a new stake in NIKE in the 1st quarter worth approximately $25,000. Mascoma Wealth Management LLC bought a new position in NIKE in the 2nd quarter worth approximately $26,000. Halbert Hargrove Global Advisors LLC increased its position in NIKE by 952.6% in the 2nd quarter. Halbert Hargrove Global Advisors LLC now owns 400 shares of the footwear maker’s stock worth $28,000 after buying an additional 362 shares during the period. Saudi Central Bank bought a new position in NIKE in the 1st quarter worth approximately $30,000. Finally, Matrix Trust Co increased its position in NIKE by 53.1% in the 2nd quarter. Matrix Trust Co now owns 441 shares of the footwear maker’s stock worth $31,000 after buying an additional 153 shares during the period. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

Analysts Set New Price Targets

NKE has been the topic of several recent analyst reports. Zacks Research raised NIKE from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 26th. Piper Sandler set a $84.00 price target on NIKE and gave the stock an “overweight” rating in a research report on Wednesday, October 1st. Truist Financial reaffirmed a “buy” rating and issued a $85.00 price target on shares of NIKE in a research report on Wednesday, October 1st. Wall Street Zen raised NIKE from a “sell” rating to a “hold” rating in a research report on Saturday, September 6th. Finally, Citigroup raised NIKE from a “neutral” rating to a “positive” rating in a research report on Friday, September 19th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, NIKE currently has an average rating of “Moderate Buy” and an average target price of $81.57.

NIKE Stock Performance

NKE opened at $71.25 on Tuesday. The stock has a market cap of $105.23 billion, a PE ratio of 36.54, a P/E/G ratio of 2.64 and a beta of 1.29. The company has a current ratio of 2.19, a quick ratio of 1.45 and a debt-to-equity ratio of 0.59. NIKE, Inc. has a 1 year low of $52.28 and a 1 year high of $84.76. The stock’s 50 day simple moving average is $74.46 and its 200-day simple moving average is $67.26.

NIKE (NYSE:NKE) last released its quarterly earnings data on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.22. The business had revenue of $11.72 billion for the quarter, compared to analysts’ expectations of $10.96 billion. NIKE had a return on equity of 21.16% and a net margin of 6.23%.NIKE’s quarterly revenue was up 1.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.70 earnings per share. Sell-side analysts forecast that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date was Tuesday, September 2nd. NIKE’s dividend payout ratio is 82.05%.

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.