NIKE, Inc. $NKE Stake Cut by RKL Wealth Management LLC

RKL Wealth Management LLC decreased its holdings in shares of NIKE, Inc. (NYSE:NKE) by 1.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,947 shares of the footwear maker’s stock after selling 283 shares during the period. RKL Wealth Management LLC’s holdings in NIKE were worth $1,062,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Stone House Investment Management LLC acquired a new stake in shares of NIKE during the 1st quarter worth approximately $25,000. Halbert Hargrove Global Advisors LLC grew its stake in NIKE by 952.6% during 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 last quarter. Saudi Central Bank acquired a new stake in NIKE in the first quarter worth $30,000. Matrix Trust Co lifted its stake in NIKE by 53.1% in the second quarter. Matrix Trust Co now owns 441 shares of the footwear maker’s stock valued at $31,000 after buying an additional 153 shares during the last quarter. Finally, Opal Wealth Advisors LLC acquired a new position in shares of NIKE during the second quarter valued at $35,000. 64.25% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on NKE. Cowen upgraded shares of NIKE from a “hold” rating to a “buy” rating in a research report on Wednesday, September 10th. Barclays set a $70.00 price target on shares of NIKE and gave the company a “positive” rating in a research note on Wednesday. HSBC upgraded NIKE from a “hold” rating to a “buy” rating and set a $80.00 price objective for the company in a research report on Friday, June 27th. Piper Sandler set a $84.00 target price on NIKE and gave the company an “overweight” rating in a research report on Wednesday. Finally, Morgan Stanley set a $72.00 price target on NIKE and gave the stock a “positive” rating in a research report on Wednesday. Three investment analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $81.26.

Insider Activity

In related news, Chairman Mark G. Parker sold 110,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $72.29, for a total value of $7,951,900.00. Following the sale, the chairman directly owned 842,361 shares in the company, valued at $60,894,276.69. The trade was a 11.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.80% of the stock is owned by corporate insiders.

NIKE Stock Performance

Shares of NYSE NKE opened at $74.04 on Thursday. NIKE, Inc. has a 1 year low of $52.28 and a 1 year high of $85.23. The firm has a market cap of $109.35 billion, a P/E ratio of 37.97, a PEG ratio of 2.60 and a beta of 1.29. The stock has a fifty day moving average price of $74.73 and a two-hundred day moving average price of $67.31. 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 (NYSE:NKE) last posted its quarterly earnings data on Tuesday, September 30th. The footwear maker reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.22. NIKE had a return on equity of 21.05% and a net margin of 6.23%.The company had revenue of $11.72 billion for the quarter, compared to the consensus estimate of $10.96 billion. During the same quarter in the previous year, the business earned $0.70 EPS. The company’s quarterly revenue was up 1.0% compared to the same quarter last year. Research analysts forecast that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd were given a dividend of $0.40 per share. The ex-dividend date was Tuesday, September 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.2%. NIKE’s dividend payout ratio (DPR) is 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.