NIKE, Inc. $NKE Shares Sold by Empirical Financial Services LLC d.b.a. Empirical Wealth Management

Empirical Financial Services LLC d.b.a. Empirical Wealth Management cut its holdings in shares of NIKE, Inc. (NYSE:NKE) by 5.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,071 shares of the footwear maker’s stock after selling 1,022 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in NIKE were worth $1,355,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Caldwell Sutter Capital Inc. boosted its position in NIKE by 6.3% during the second quarter. Caldwell Sutter Capital Inc. now owns 2,390 shares of the footwear maker’s stock worth $170,000 after acquiring an additional 142 shares during the last quarter. Westmount Partners LLC boosted its position in NIKE by 2.9% during the second quarter. Westmount Partners LLC now owns 5,165 shares of the footwear maker’s stock worth $367,000 after acquiring an additional 146 shares during the last quarter. HB Wealth Management LLC boosted its holdings in NIKE by 0.3% in the 2nd quarter. HB Wealth Management LLC now owns 52,012 shares of the footwear maker’s stock valued at $3,695,000 after purchasing an additional 147 shares during the last quarter. Matrix Trust Co boosted its holdings in NIKE by 53.1% in the 2nd quarter. Matrix Trust Co now owns 441 shares of the footwear maker’s stock valued at $31,000 after purchasing an additional 153 shares during the last quarter. Finally, Summit Financial Strategies Inc. boosted its holdings in NIKE by 3.8% in the 2nd quarter. Summit Financial Strategies Inc. now owns 4,270 shares of the footwear maker’s stock valued at $303,000 after purchasing an additional 155 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, 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 transaction of $6,535,902.54. Following the completion of the sale, the chairman owned 744,988 shares in the company, valued at $56,566,938.84. This represents a 10.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.80% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on NKE shares. Truist Financial reiterated a “buy” rating and issued a $85.00 target price on shares of NIKE in a report on Wednesday. Stifel Nicolaus set a $68.00 target price on shares of NIKE and gave the company a “hold” rating in a report on Wednesday. Morgan Stanley set a $72.00 target price on shares of NIKE and gave the company a “positive” rating in a report on Wednesday. Citigroup upgraded shares of NIKE from a “neutral” rating to a “positive” rating in a report on Friday, September 19th. Finally, Cowen upgraded shares of NIKE from a “hold” rating to a “buy” rating in a report on Wednesday, September 10th. Three analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, NIKE has a consensus rating of “Moderate Buy” and an average price target of $81.57.

NIKE Trading Down 3.4%

Shares of NYSE:NKE opened at $72.01 on Friday. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $84.76. The company’s 50 day moving average is $74.62 and its two-hundred day moving average is $67.27. The company has a current ratio of 2.19, a quick ratio of 1.50 and a debt-to-equity ratio of 0.59. The company has a market cap of $106.34 billion, a PE ratio of 36.93, a P/E/G ratio of 2.65 and a beta of 1.29.

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

NIKE Dividend Announcement

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

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.