Norden Group LLC Has $636,000 Position in NIKE, Inc. (NYSE:NKE)

Norden Group LLC cut its holdings in shares of NIKE, Inc. (NYSE:NKE) by 31.0% in the first quarter, Holdings Channel reports. The institutional investor owned 10,017 shares of the footwear maker’s stock after selling 4,510 shares during the quarter. Norden Group LLC’s holdings in NIKE were worth $636,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Heck Capital Advisors LLC bought a new stake in NIKE in the fourth quarter valued at $28,000. EnRich Financial Partners LLC boosted its holdings in NIKE by 196.4% in the fourth quarter. EnRich Financial Partners LLC now owns 412 shares of the footwear maker’s stock valued at $31,000 after acquiring an additional 273 shares during the last quarter. Roxbury Financial LLC boosted its holdings in NIKE by 52.1% during the first quarter. Roxbury Financial LLC now owns 587 shares of the footwear maker’s stock worth $37,000 after buying an additional 201 shares during the last quarter. Ritter Daniher Financial Advisory LLC DE raised its position in shares of NIKE by 95.1% during the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 513 shares of the footwear maker’s stock worth $39,000 after purchasing an additional 250 shares during the period. Finally, Putney Financial Group LLC acquired a new stake in NIKE in the 4th quarter valued at approximately $40,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on NKE shares. Argus upgraded NIKE to a “buy” rating in a research note on Sunday, July 6th. DZ Bank cut NIKE from a “buy” rating to a “hold” rating and set a $76.00 price target for the company. in a report on Thursday, July 10th. Wells Fargo & Company upped their target price on NIKE from $55.00 to $60.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 14th. UBS Group assumed coverage on NIKE in a research report on Sunday, July 6th. They issued a “buy” rating on the stock. Finally, Piper Sandler upped their target price on NIKE from $70.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, June 27th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, seventeen have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, NIKE has a consensus rating of “Moderate Buy” and an average price target of $78.22.

NIKE Stock Down 1.1%

NKE opened at $78.40 on Wednesday. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $90.62. The company has a market cap of $115.79 billion, a PE ratio of 36.30, a price-to-earnings-growth ratio of 2.91 and a beta of 1.25. The company has a quick ratio of 1.50, a current ratio of 2.21 and a debt-to-equity ratio of 0.60. The company has a 50-day moving average price of $67.47 and a 200 day moving average price of $67.42.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.02. The business had revenue of $11.10 billion during the quarter, compared to analysts’ expectations of $10.69 billion. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The business’s revenue for the quarter was down 11.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.99 EPS. Sell-side analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd were issued a $0.40 dividend. The ex-dividend date was Monday, June 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.04%. NIKE’s payout ratio is 74.07%.

Insider Activity at NIKE

In related news, Chairman Mark G. Parker sold 110,000 shares of the stock in a transaction 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 transaction, the chairman directly owned 842,361 shares of the company’s stock, valued at $60,894,276.69. This trade represents a 11.55% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.80% of the stock is owned by company insiders.

NIKE Company 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.