NIKE, Inc. $NKE Position Cut by Venturi Wealth Management LLC

Venturi Wealth Management LLC trimmed its holdings in NIKE, Inc. (NYSE:NKE) by 30.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,414 shares of the footwear maker’s stock after selling 1,900 shares during the quarter. Venturi Wealth Management LLC’s holdings in NIKE were worth $314,000 at the end of the most recent reporting period.

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

Insiders Place Their Bets

In other news, EVP Treasure Heinle sold 4,300 shares of the stock in a transaction on Monday, October 6th. The stock was sold at an average price of $71.27, for a total value of $306,461.00. Following the completion of the sale, the executive vice president owned 29,396 shares in the company, valued at $2,095,052.92. This represents a 12.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Mark G. Parker sold 86,078 shares of the stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $75.93, for a total value of $6,535,902.54. Following the completion of the sale, the chairman owned 744,988 shares of the company’s stock, valued at $56,566,938.84. The trade was a 10.36% decrease in their position. The disclosure for this sale can be found here. Insiders sold 200,378 shares of company stock valued at $14,794,264 in the last 90 days. Corporate insiders own 0.80% of the company’s stock.

NIKE Price Performance

Shares of NYSE:NKE opened at $65.25 on Friday. The stock has a fifty day moving average of $73.80 and a 200-day moving average of $67.28. The company has a market capitalization of $96.45 billion, a PE ratio of 33.46, a price-to-earnings-growth ratio of 2.48 and a beta of 1.29. NIKE, Inc. has a one year low of $52.28 and a one year high of $84.76. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.45 and a current ratio of 2.19.

NIKE (NYSE:NKE) last released its earnings results 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 company had revenue of $11.72 billion during the quarter, compared to analyst estimates of $10.96 billion. NIKE had a return on equity of 21.16% and a net margin of 6.23%.The company’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.70 earnings per share. As a group, equities analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd were issued a $0.40 dividend. The ex-dividend date was Tuesday, September 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.5%. NIKE’s dividend payout ratio is presently 82.05%.

Analysts Set New Price Targets

A number of research firms have weighed in on NKE. Piper Sandler set a $84.00 target price on NIKE and gave the stock an “overweight” rating in a research report on Wednesday, October 1st. The Goldman Sachs Group set a $85.00 target price on NIKE and gave the stock a “buy” rating in a research report on Thursday, September 25th. Bank of America increased their price objective on NIKE from $80.00 to $84.00 and gave the company a “buy” rating in a research report on Friday, June 27th. Sanford C. Bernstein reiterated a “buy” rating and set a $90.00 price objective on shares of NIKE in a research report on Wednesday, October 1st. Finally, Weiss Ratings upgraded NIKE from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday. Three analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $81.57.

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.