Stablepoint Partners LLC reduced its position in NIKE, Inc. (NYSE:NKE)

VaselineSeptember 6, 2024

0 4 minutes read

Stablepoint Partners LLC reduced its holdings in NIKE, Inc. (NYSE:NKE – Free Report) by 15.1% in the second quarter, HoldingsChannel reports. The firm owned 10,612 shares of the footwear maker’s stock after selling 1,889 shares during the period. Stablepoint Partners LLC’s holdings in NIKE were worth $781,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in NKE. 9258 Wealth Management LLC boosted its holdings in NIKE by 23.9% in the fourth quarter. 9258 Wealth Management LLC now owns 4,366 shares of the footwear maker’s stock valued at $474,000 after buying an additional 842 shares in the last quarter. Gryphon Financial Partners LLC boosted its holdings in shares of NIKE by 34.6% in the fourth quarter. Gryphon Financial Partners LLC now owns 11,598 shares of the footwear maker’s stock valued at $1,259,000 after acquiring an additional 2,981 shares during the period. Wealthspire Advisors LLC boosted its holdings in shares of NIKE by 5.4% in the fourth quarter. Wealthspire Advisors LLC now owns 17,287 shares of the footwear maker’s stock valued at $1,877,000 after purchasing an additional 889 shares during the period. Principal Securities Inc. purchased a new stake in NIKE during the fourth quarter valued at about $886,000. Finally, Van Hulzen Asset Management LLC boosted its stake in NIKE by 5.0% during the fourth quarter. Van Hulzen Asset Management LLC now owns 2,677 shares of the footwear maker’s stock worth $291,000 after purchasing an additional 127 shares during the period. 64.25% of the shares are currently held by institutional investors and hedge funds.

Inside activity at NIKE

In related news, Chairman Mark G. Parker sold 52,487 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total value of $4,093,986.00. Following the completion of the sale, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at $80,435,628. The sale was disclosed in a filing with the SEC, which is available via this hyperlink. In related news, Chairman Mark G. Parker sold 110,000 shares of the company’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the transaction, the chairman now owns 1,102,090 shares in the company, valued at approximately $80,419,507.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total value of $4,093,986.00. Following the completion of the sale, the chairman now owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. The disclosure for this sale can be found here. Insiders own 0.50% of the company’s shares.

Analysts on Wall Street are forecasting an increase

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Several analysts recently weighed in on NKE shares. Wells Fargo & Company dropped their target price on shares of NIKE from $115.00 to $92.00 and set an “overweight” rating for the company in a research note on Friday, June 28th. Wedbush cut their price target on NIKE from $115.00 to $97.00 and set an “outperform” rating for the company in a report on Friday, June 28th. Morgan Stanley restated an “equal weight” rating and issued a $79.00 price objective (down from $114.00) on shares of NIKE in a report on Friday, June 28th. Robert W. Baird cut their price target on shares of NIKE from $125.00 to $100.00 and set an “outperform” rating for the company in a research note on Friday, June 28th. Finally, Barclays cut shares of NIKE from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $109.00 to $80.00 in a research report from Friday, June 28. Fifteen investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The company currently has a consensus rating of “Moderate Buy” and an average price target of $95.59, based on data from MarketBeat.

Read the latest research report on NIKE

NIKE Stocks Down 0.2%

Shares of NIKE stock opened at $80.83 on Friday. The stock has a market cap of $122.00 billion, a PE ratio of 21.67, a P/E/G ratio of 2.19 and a beta of 1.01. 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 stock’s fifty day moving average is $76.83, and the two hundred day moving average is $88.94. NIKE, Inc. has a 1 year low of $70.75 and a 1 year high of $123.39.

NIKE (NYSE:NKE – Get Your Free Report ) last posted its earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.16. The company had revenue of $12.60 billion for the quarter, compared to analyst estimates 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% year-over-year. In the same quarter last year, the company earned $0.66 EPS. On average, sell-side analysts expect that NIKE, Inc. to record 3.1 EPS for the current fiscal year.

NIKE announces dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd will be issued a $0.37 dividend. This represents an annualized dividend of $1.48 and a dividend yield of 1.83%. The ex-dividend date of this dividend is Tuesday, September 3rd. NIKE’s payout ratio is 39.68%.

NIKE profile

(Free report)

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 brand; and casual sneakers, apparel and accessories under the Converse, Chuck Taylor, All Star, One Star, Star Chevron and Jack Purcell brands.