Belpointe Asset Management LLC Sells 2,869 Shares of NIKE, Inc. $NKE

Belpointe Asset Management LLC reduced its holdings in NIKE, Inc. (NYSE:NKE) by 47.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,155 shares of the footwear maker’s stock after selling 2,869 shares during the quarter. Belpointe Asset Management LLC’s holdings in NIKE were worth $224,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Brighton Jones LLC boosted its position in shares of NIKE by 388.5% during the fourth quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker’s stock valued at $15,316,000 after purchasing an additional 160,980 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of NIKE by 39.1% during the first quarter. GAMMA Investing LLC now owns 20,877 shares of the footwear maker’s stock valued at $1,325,000 after purchasing an additional 5,863 shares in the last quarter. Simon Quick Advisors LLC boosted its position in shares of NIKE by 21.0% during the first quarter. Simon Quick Advisors LLC now owns 3,986 shares of the footwear maker’s stock valued at $253,000 after purchasing an additional 691 shares in the last quarter. Everhart Financial Group Inc. bought a new stake in shares of NIKE during the first quarter valued at approximately $229,000. Finally, Krilogy Financial LLC bought a new stake in shares of NIKE during the first quarter valued at approximately $661,000. 64.25% of the stock is currently owned by institutional investors.

Insider Buying and Selling at NIKE

In related news, Chairman Mark G. Parker sold 86,078 shares of NIKE stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $75.93, for a total value of $6,535,902.54. Following the completion of the sale, the chairman owned 744,988 shares of the company’s stock, valued at $56,566,938.84. The trade was a 10.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Treasure Heinle sold 4,300 shares of the business’s stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $71.27, for a total value of $306,461.00. Following the sale, the executive vice president directly owned 29,396 shares of the company’s stock, valued at $2,095,052.92. This represents a 12.76% decrease in their position. The disclosure for this sale can be found here. Insiders sold 200,378 shares of company stock valued at $14,794,264 in the last ninety days. 0.80% of the stock is currently owned by corporate insiders.

NIKE Stock Down 4.1%

NKE stock opened at $65.25 on Friday. NIKE, Inc. has a 1-year low of $52.28 and a 1-year high of $84.76. The business has a fifty day moving average price of $73.80 and a 200-day moving average price of $67.29. 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 stock has a market capitalization of $96.45 billion, a P/E ratio of 33.46, a P/E/G ratio of 2.38 and a beta of 1.29.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.22. NIKE had a return on equity of 21.16% and a net margin of 6.23%.The firm had revenue of $11.72 billion during the quarter, compared to analysts’ expectations of $10.96 billion. During the same quarter in the previous year, the business earned $0.70 earnings per share. The company’s revenue was up 1.0% on a year-over-year basis. Equities analysts forecast that NIKE, Inc. will post 2.05 earnings per share 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 issued a $0.40 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.5%. NIKE’s payout ratio is presently 82.05%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on NKE. Morgan Stanley set a $72.00 price target on NIKE and gave the company a “positive” rating in a research report on Wednesday, October 1st. Barclays set a $70.00 price target on NIKE and gave the company a “positive” rating in a research report on Wednesday, October 1st. Evercore ISI dropped their price target on NIKE from $97.00 to $75.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 24th. Piper Sandler set a $84.00 price objective on NIKE and gave the company an “overweight” rating in a research note on Wednesday, October 1st. Finally, Cowen upgraded NIKE from a “hold” rating to a “buy” rating in a research note on Wednesday, September 10th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, NIKE has a consensus rating of “Moderate Buy” and an average price target of $81.57.

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.