NIKE, Inc. $NKE Shares Sold by Canopy Partners LLC

Canopy Partners LLC cut its holdings in NIKE, Inc. (NYSE:NKE) by 5.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,363 shares of the footwear maker’s stock after selling 207 shares during the quarter. Canopy Partners LLC’s holdings in NIKE were worth $239,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Spire Wealth Management increased its stake in shares of NIKE by 4.4% during the first 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 increased its stake in shares of NIKE by 0.6% during the first quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,008,340 shares of the footwear maker’s stock worth $69,932,000 after acquiring an additional 5,601 shares during the period. Clal Insurance Enterprises Holdings Ltd acquired a new position in shares of NIKE during the first quarter worth about $25,963,000. BROOKFIELD Corp ON increased its stake in shares of NIKE by 36.2% during the first quarter. BROOKFIELD Corp ON now owns 658,598 shares of the footwear maker’s stock worth $41,808,000 after acquiring an additional 175,000 shares during the period. Finally, Cadence Bank increased its stake in shares of NIKE by 10.0% during the first quarter. Cadence Bank now owns 83,002 shares of the footwear maker’s stock worth $5,269,000 after acquiring an additional 7,574 shares during the period. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at NIKE

In related news, Chairman Mark G. Parker sold 110,000 shares of the company’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 transaction of $7,951,900.00. Following the transaction, the chairman 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Treasure Heinle sold 4,300 shares of the company’s stock in a transaction that occurred on Monday, October 6th. The shares were sold at an average price of $71.27, for a total transaction of $306,461.00. Following the transaction, the executive vice president directly owned 29,396 shares in the company, valued at $2,095,052.92. The trade was a 12.76% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 200,378 shares of company stock worth $14,794,264 in the last three months. Insiders own 0.80% of the company’s stock.

NIKE Stock Down 3.0%

Shares of NYSE NKE opened at $69.03 on Wednesday. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $84.76. The company has a market capitalization of $101.95 billion, a PE ratio of 35.40, a price-to-earnings-growth ratio of 2.61 and a beta of 1.29. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.19 and a quick ratio of 1.45. The firm’s 50-day moving average is $74.28 and its two-hundred day moving average is $67.28.

NIKE (NYSE:NKE) last announced its quarterly 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. The company had revenue of $11.72 billion for the quarter, compared to the consensus estimate of $10.96 billion. NIKE had a net margin of 6.23% and a return on equity of 21.16%. The company’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.70 earnings per share. Equities analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The company also recently disclosed 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 of this dividend was Tuesday, September 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.3%. NIKE’s dividend payout ratio is presently 82.05%.

Analyst Ratings Changes

Several brokerages have weighed in on NKE. DZ Bank upgraded shares of NIKE from a “hold” rating to a “buy” rating in a research report on Wednesday, October 1st. JPMorgan Chase & Co. upped their target price on shares of NIKE from $93.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 1st. Jefferies Financial Group restated a “buy” rating and set a $115.00 target price on shares of NIKE in a research report on Monday, September 29th. Citigroup upgraded shares of NIKE from a “neutral” rating to a “positive” rating in a research report on Friday, September 19th. Finally, Hsbc Global Res upgraded shares of NIKE from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 27th. Three 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 assigned a Sell rating to the stock. According to data from MarketBeat, NIKE presently has a consensus rating of “Moderate Buy” and a consensus price target of $81.57.

About NIKE

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.