Wedmont Private Capital Sells 234 Shares of NIKE, Inc. $NKE

Wedmont Private Capital lessened its stake in shares of NIKE, Inc. (NYSE:NKE) by 5.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 4,037 shares of the footwear maker’s stock after selling 234 shares during the period. Wedmont Private Capital’s holdings in NIKE were worth $297,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of NKE. Spire Wealth Management boosted its stake in shares of NIKE by 4.4% in 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 boosted its stake in shares of NIKE by 0.6% in 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. Mackenzie Financial Corp boosted its stake in shares of NIKE by 75.1% in the fourth quarter. Mackenzie Financial Corp now owns 539,650 shares of the footwear maker’s stock worth $40,835,000 after acquiring an additional 231,417 shares during the period. Clal Insurance Enterprises Holdings Ltd bought a new position in shares of NIKE in the first quarter worth about $25,963,000. Finally, BROOKFIELD Corp ON boosted its stake in shares of NIKE by 36.2% in 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. Institutional investors own 64.25% of the company’s stock.

NIKE Stock Performance

Shares of NKE opened at $70.88 on Monday. The stock has a 50-day moving average of $75.19 and a two-hundred day moving average of $67.43. NIKE, Inc. has a one year low of $52.28 and a one year high of $90.62. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.50 and a current ratio of 2.21. The stock has a market cap of $104.68 billion, a P/E ratio of 32.81, a P/E/G ratio of 2.57 and a beta of 1.24.

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

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd will be issued a $0.40 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.3%. NIKE’s dividend payout ratio is currently 74.07%.

Insider Buying and Selling

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the company’s stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $72.29, for a total transaction of $7,951,900.00. Following the transaction, the chairman directly owned 842,361 shares in the company, valued at $60,894,276.69. This represents a 11.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.80% of the stock is owned by company insiders.

Analyst Ratings Changes

NKE has been the subject of a number of research reports. Evercore ISI dropped their price target on NIKE from $97.00 to $75.00 and set an “outperform” rating for the company in a research note on Tuesday, June 24th. Bank of America increased their price target on NIKE from $80.00 to $84.00 and gave the company a “buy” rating in a research note on Friday, June 27th. DZ Bank lowered NIKE from a “buy” rating to a “hold” rating and set a $76.00 price target for the company. in a research note on Thursday, July 10th. Wall Street Zen raised NIKE from a “sell” rating to a “hold” rating in a research note on Saturday, September 6th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on NIKE from $77.00 to $71.00 and set a “buy” rating for the company in a research note on Friday, June 20th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $79.04.

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.