YD More Investments Ltd lowers holdings in NIKE, Inc. (NYSE:NKE)

VaselineSeptember 14, 2024

0 4 minutes read

YD More Investments Ltd reduced its stake in NIKE, Inc. (NYSE:NKE – Free Report) by 94.0% during the second quarter, according to its most recent filing with the SEC. The fund owned 376 shares of the footwear maker’s stock after selling 5,904 shares during the quarter. YD More Investments Ltd’s holdings in NIKE were worth $28,000 at the end of the most recent quarter.

A number of other institutional investors have recently added to or reduced their stakes in the company. Annapolis Financial Services LLC increased its position in shares of NIKE by 440.0% in the first quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock valued at $25,000 after acquiring an additional 220 shares during the period. True Wealth Design LLC grew its holdings in NIKE by 106.4% during the fourth quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock valued at $32,000 after purchasing an additional 150 shares during the period. Frank Rimerman Advisors LLC purchased a new stake in NIKE in the fourth quarter valued at $33,000. Core Wealth Advisors Inc. boosted its stake in NIKE by 408.5% in the fourth quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock valued at $33,000 after purchasing an additional 241 shares during the period. Finally, Gold Investment Management Ltd. purchased a new position in shares of NIKE in the 4th quarter valued at $36,000. Institutional investors own 64.25% of the company’s shares.

Analysts on Wall Street are forecasting an increase

Several equities research analysts recently weighed in on the company. Raymond James reissued a “market perform” rating on shares of NIKE in a report on Friday, June 28th. Goldman Sachs Group cut their price target on shares of NIKE from $118.00 to $105.00 and set a “buy” rating on the stock in a research report on Friday, June 28th. Evercore ISI reduced their price objective on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a report on Friday, June 28th. Oppenheimer reissued an “outperform” rating and set a $120.00 target price on shares of NIKE in a report on Friday, June 28th. Finally, Bank of America decreased their target price on NIKE from $113.00 to $104.00 and set a “buy” rating on the stock in a research report on Friday, June 28th. Fourteen research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. The company presently has an average rating of “Moderate Buy” and a consensus price target of $95.59, according to MarketBeat.com.

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Check out our latest analysis on NIKE

NIKE trading up 0.8%

NYSE NKE opened at $79.01 on Friday. The stock’s 50-day simple moving average is $77.23, and its two-hundred-day simple moving average is $87.88. NIKE, Inc. has a 12-month low of $70.75 and a 12-month high of $123.39. The company has a quick ratio of 1.69, a current ratio of 2.40, and a debt-to-equity ratio of 0.55. The company has a market cap of $118.46 billion, a price-to-earnings ratio of 21.18, a PEG ratio of 2.08 and a beta of 1.02.

NIKE (NYSE:NKE – Get Your Free Report ) last issued its earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.16. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The company had revenue of $12.60 billion during the quarter, compared to the consensus estimate of $12.86 billion. In the same quarter last year, the company posted EPS of $0.66. NIKE’s quarterly revenue was down 1.6% compared to the same quarter last year. Research analysts estimate that NIKE, Inc. will post 3.06 EPS for the current fiscal year.

NIKE announces dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be paid a $0.37 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a dividend of $1.48 on an annualized basis and a dividend yield of 1.87%. NIKE’s dividend payout ratio (DPR) is 39.68%.

Inside activity at NIKE

In other NIKE 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 transaction of $4,093,986.00. Following the completion of the sale, the chairman now directly owns 1,031,226 shares in the company, valued at $80,435,628. The transaction was disclosed in a filing with the SEC, which is accessible via this link. In other news, Chairman Mark G. Parker sold 52,487 shares of the stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total transaction 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 $80,435,628. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC’s website. Also, Director Robert Holmes Swan acquired 2,941 shares of the business’s stock in a transaction on Friday, June 28th. The shares were acquired at an average cost of $77.02 per share, with a total value of $226,515.82. Following the transaction, the director now directly owns 20,946 shares in the company, valued at $1,613,260.92. Disclosure for this purchase can be found here. 0.50% of the stock is owned by insiders.

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.