NIKE, Inc. $NKE Shares Sold by Colonial Trust Advisors

Colonial Trust Advisors decreased its holdings in NIKE, Inc. (NYSE:NKE) by 7.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 104,019 shares of the footwear maker’s stock after selling 8,939 shares during the quarter. Colonial Trust Advisors’ holdings in NIKE were worth $7,390,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Goldman Sachs Group Inc. lifted its position in NIKE by 344.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 26,698,835 shares of the footwear maker’s stock worth $1,694,842,000 after acquiring an additional 20,688,013 shares during the period. Norges Bank purchased a new position in NIKE during the 2nd quarter worth $835,063,000. Wellington Management Group LLP increased its stake in shares of NIKE by 24.9% during the first quarter. Wellington Management Group LLP now owns 45,383,916 shares of the footwear maker’s stock worth $2,880,971,000 after acquiring an additional 9,043,180 shares during the period. Nuveen LLC purchased a new position in NIKE during the first quarter worth about $502,285,000. Finally, Vanguard Group Inc. boosted its holdings in NIKE by 4.6% in the 1st quarter. Vanguard Group Inc. now owns 113,151,080 shares of the footwear maker’s stock valued at $7,182,831,000 after purchasing an additional 4,957,494 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Analyst Ratings Changes

NKE has been the subject of a number of analyst reports. BTIG Research initiated coverage on NIKE in a research note on Tuesday, October 14th. They set a “buy” rating and a $100.00 target price for the company. Piper Sandler set a $84.00 price objective on NIKE and gave the stock an “overweight” rating in a report on Wednesday, October 1st. Royal Bank Of Canada reiterated an “outperform” rating on shares of NIKE in a research report on Friday, October 10th. Wells Fargo & Company upgraded shares of NIKE from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $60.00 to $75.00 in a research report on Thursday, November 13th. Finally, Sanford C. Bernstein reiterated a “buy” rating and issued a $90.00 price target on shares of NIKE in a report on Monday, October 13th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $82.24.

Insider Activity at NIKE

In related news, 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 completion of the transaction, the executive vice president owned 29,396 shares of the company’s stock, valued at approximately $2,095,052.92. The trade was a 12.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Mark G. Parker sold 86,078 shares of NIKE stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $64.80, for a total transaction of $5,577,854.40. Following the sale, the chairman owned 647,615 shares of the company’s stock, valued at approximately $41,965,452. This trade represents a 11.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.80% of the stock is currently owned by corporate insiders.

NIKE Stock Performance

NYSE:NKE opened at $64.45 on Friday. The company has a current ratio of 2.19, a quick ratio of 1.45 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $95.27 billion, a P/E ratio of 33.05, a price-to-earnings-growth ratio of 2.41 and a beta of 1.29. The firm has a 50-day moving average price of $66.65 and a two-hundred day moving average price of $68.98. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $82.44.

NIKE (NYSE:NKE) last released its quarterly earnings results on Tuesday, September 30th. The footwear maker reported $0.49 EPS for the quarter, beating the consensus estimate of $0.27 by $0.22. NIKE had a net margin of 6.23% and a return on equity of 21.16%. The business had revenue of $11.72 billion for the quarter, compared to analyst estimates of $10.96 billion. During the same period in the prior year, the business earned $0.70 earnings per share. The company’s quarterly revenue was up 1.0% on a year-over-year basis. As a group, research analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 1st will be given a $0.41 dividend. This is an increase from NIKE’s previous quarterly dividend of $0.40. This represents a $1.64 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Monday, December 1st. NIKE’s dividend payout ratio (DPR) is currently 84.10%.

About NIKE

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.