Court Place Advisors LLC Sells 2,130 Shares of NIKE, Inc. $NKE

Court Place Advisors LLC lessened its stake in shares of NIKE, Inc. (NYSE:NKE) by 25.3% during the second quarter, Holdings Channel.com reports. The fund owned 6,288 shares of the footwear maker’s stock after selling 2,130 shares during the period. Court Place Advisors LLC’s holdings in NIKE were worth $447,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Spire Wealth Management increased its stake in NIKE by 4.4% during the 1st quarter. Spire Wealth Management now owns 9,872 shares of the footwear maker’s stock worth $627,000 after acquiring an additional 416 shares during the period. Bank Julius Baer & Co. Ltd Zurich boosted its holdings in shares of 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 purchasing an additional 5,601 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd acquired a new stake in shares of NIKE in the 1st quarter valued at $25,963,000. BROOKFIELD Corp ON boosted its holdings in shares of 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 purchasing an additional 175,000 shares in the last quarter. Finally, Cadence Bank boosted its holdings in shares of NIKE by 10.0% in the 1st quarter. Cadence Bank now owns 83,002 shares of the footwear maker’s stock valued at $5,269,000 after purchasing an additional 7,574 shares in the last quarter. Institutional investors own 64.25% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on NKE shares. TD Cowen raised NIKE from a “hold” rating to a “buy” rating and raised their target price for the company from $62.00 to $85.00 in a report on Wednesday, September 10th. Weiss Ratings raised NIKE from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday. Wall Street Zen raised NIKE from a “sell” rating to a “hold” rating in a report on Saturday, September 6th. Piper Sandler set a $84.00 target price on NIKE and gave the company an “overweight” rating in a report on Wednesday, October 1st. Finally, Bank of America raised their target price on NIKE from $80.00 to $84.00 and gave the company a “buy” rating in a report on Friday, June 27th. Three analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $81.57.

NIKE Trading Down 1.4%

NYSE NKE opened at $68.09 on Friday. The company has a quick ratio of 1.45, a current ratio of 2.19 and a debt-to-equity ratio of 0.59. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $84.76. The company has a market cap of $100.56 billion, a price-to-earnings ratio of 34.92, a price-to-earnings-growth ratio of 2.52 and a beta of 1.29. The business’s fifty day moving average is $73.99 and its 200 day moving average is $67.29.

NIKE (NYSE:NKE) last released its quarterly earnings data on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.22. The company had revenue of $11.72 billion for the quarter, compared to the consensus estimate of $10.96 billion. NIKE had a return on equity of 21.16% and a net margin of 6.23%.NIKE’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter last year, the business 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 Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Tuesday, September 2nd. NIKE’s dividend payout ratio (DPR) is currently 82.05%.

Insider Buying and Selling at NIKE

In related news, EVP Treasure Heinle sold 4,300 shares of the firm’s stock in a transaction on Monday, October 6th. The stock was sold at an average price of $71.27, for a total transaction of $306,461.00. Following the completion of the transaction, the executive vice president directly owned 29,396 shares of the company’s stock, valued at $2,095,052.92. This trade represents a 12.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Mark G. Parker sold 110,000 shares of the firm’s stock in a transaction 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 approximately $60,894,276.69. This represents a 11.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 200,378 shares of company stock valued at $14,794,264. 0.80% of the stock is owned by corporate insiders.

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.