NIKE, Inc. (NYSE:NKE) Shares Sold by Patron Partners LLC

Patron Partners LLC lowered its position in NIKE, Inc. (NYSE:NKE) by 1.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,290 shares of the footwear maker’s stock after selling 274 shares during the quarter. NIKE makes up approximately 0.8% of Patron Partners LLC’s portfolio, making the stock its 25th biggest position. Patron Partners LLC’s holdings in NIKE were worth $1,379,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the company. Beta Wealth Group Inc. lifted its stake in shares of NIKE by 2.3% in the fourth quarter. Beta Wealth Group Inc. now owns 4,501 shares of the footwear maker’s stock worth $489,000 after acquiring an additional 101 shares in the last quarter. Kampmann Melissa S. increased its holdings in NIKE by 0.8% during the 4th quarter. Kampmann Melissa S. now owns 15,050 shares of the footwear maker’s stock worth $1,634,000 after purchasing an additional 115 shares during the last quarter. Ascent Wealth Partners LLC raised its position in shares of NIKE by 0.4% in the 1st quarter. Ascent Wealth Partners LLC now owns 28,513 shares of the footwear maker’s stock valued at $2,680,000 after purchasing an additional 115 shares in the last quarter. Condor Capital Management boosted its stake in shares of NIKE by 0.4% during the 1st quarter. Condor Capital Management now owns 26,079 shares of the footwear maker’s stock valued at $2,451,000 after buying an additional 116 shares during the last quarter. Finally, Bell Investment Advisors Inc grew its position in shares of NIKE by 4.7% during the fourth quarter. Bell Investment Advisors Inc now owns 2,610 shares of the footwear maker’s stock worth $283,000 after buying an additional 118 shares in the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

NIKE Stock Down 0.2 %

NKE stock opened at $80.63 on Friday. The firm has a market cap of $121.70 billion, a PE ratio of 21.62, a P/E/G ratio of 2.19 and a beta of 1.01. NIKE, Inc. has a 12 month low of $70.75 and a 12 month high of $123.39. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.40 and a quick ratio of 1.69. The firm has a 50 day simple moving average of $76.94 and a 200 day simple moving average of $88.78.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. The company had revenue of $12.60 billion during the quarter, compared to the consensus estimate of $12.86 billion. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.66 EPS. Equities research analysts forecast that NIKE, Inc. will post 3.1 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd will be paid a $0.37 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $1.48 dividend on an annualized basis and a yield of 1.84%. NIKE’s dividend payout ratio is currently 39.68%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on NKE. Williams Trading upgraded shares of NIKE from a “sell” rating to a “buy” rating and increased their price objective for the company from $67.00 to $93.00 in a research note on Friday, August 16th. Truist Financial lowered their price objective on NIKE from $99.00 to $81.00 and set a “hold” rating for the company in a report on Friday, June 28th. Oppenheimer reaffirmed an “outperform” rating and set a $120.00 target price on shares of NIKE in a report on Friday, June 28th. Jefferies Financial Group lowered their price target on NIKE from $90.00 to $80.00 in a report on Friday, July 12th. Finally, StockNews.com cut NIKE from a “buy” rating to a “hold” rating in a research note on Friday, June 21st. Fifteen investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, NIKE has an average rating of “Moderate Buy” and a consensus price target of $95.59.

Insiders Place Their Bets

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the firm’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $72.97, for a total value of $8,026,700.00. Following the completion of the transaction, the chairman now directly owns 1,102,090 shares in the company, valued at $80,419,507.30. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other NIKE news, Director Robert Holmes Swan purchased 2,941 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The shares were purchased at an average cost of $77.02 per share, with a total value of $226,515.82. Following the completion of the transaction, the director now owns 20,946 shares of the company’s stock, valued at $1,613,260.92. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Mark G. Parker sold 110,000 shares of the stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $72.97, for a total value of $8,026,700.00. Following the completion of the sale, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at $80,419,507.30. The disclosure for this sale can be found here. Corporate insiders own 0.50% of the company’s stock.

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.