Arjuna Capital Sells 2,243 Shares of NIKE, Inc. $NKE

Arjuna Capital cut its holdings in NIKE, Inc. (NYSE:NKE) by 32.6% in the second quarter, Holdings Channel reports. The fund owned 4,627 shares of the footwear maker’s stock after selling 2,243 shares during the quarter. Arjuna Capital’s holdings in NIKE were worth $329,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Mitchell Mcleod Pugh & Williams Inc. lifted its position in shares of NIKE by 1.0% in the 2nd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 14,176 shares of the footwear maker’s stock worth $1,007,000 after purchasing an additional 134 shares during the period. Caldwell Sutter Capital Inc. lifted its holdings in NIKE by 6.3% during the second quarter. Caldwell Sutter Capital Inc. now owns 2,390 shares of the footwear maker’s stock worth $170,000 after buying an additional 142 shares during the period. Salomon & Ludwin LLC boosted its position in NIKE by 10.1% during the 2nd quarter. Salomon & Ludwin LLC now owns 1,575 shares of the footwear maker’s stock valued at $120,000 after acquiring an additional 145 shares in the last quarter. Westmount Partners LLC increased its holdings in shares of NIKE by 2.9% in the 2nd quarter. Westmount Partners LLC now owns 5,165 shares of the footwear maker’s stock valued at $367,000 after acquiring an additional 146 shares during the period. Finally, HB Wealth Management LLC increased its holdings in shares of NIKE by 0.3% in the 2nd quarter. HB Wealth Management LLC now owns 52,012 shares of the footwear maker’s stock valued at $3,695,000 after acquiring an additional 147 shares during the period. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Stock Performance

NKE opened at $65.45 on Tuesday. The company has a market cap of $96.74 billion, a P/E ratio of 33.56, a price-to-earnings-growth ratio of 2.41 and a beta of 1.29. The company has a quick ratio of 1.45, a current ratio of 2.19 and a debt-to-equity ratio of 0.59. The firm’s 50-day moving average price is $66.41 and its 200-day moving average price is $69.12. NIKE, Inc. has a 52-week low of $52.28 and a 52-week high of $82.44.

NIKE (NYSE:NKE) last released its earnings results on Tuesday, September 30th. The footwear maker reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.22. The company had revenue of $11.72 billion during the quarter, compared to analysts’ expectations of $10.96 billion. NIKE had a net margin of 6.23% and a return on equity of 21.16%. NIKE’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same period last year, the business earned $0.70 EPS. As a group, equities analysts anticipate that NIKE, Inc. will post 2.05 EPS 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 issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.5%. This is a boost from NIKE’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Monday, December 1st. NIKE’s dividend payout ratio is presently 84.10%.

Insider Activity

In other NIKE news, Chairman Mark G. Parker sold 86,078 shares of the business’s 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 in the company, valued at approximately $41,965,452. The trade was a 11.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jorgen Vig Knudstorp acquired 16,150 shares of the business’s stock in a transaction dated Friday, November 7th. The stock was purchased at an average cost of $62.09 per share, for a total transaction of $1,002,753.50. Following the completion of the acquisition, the director directly owned 21,388 shares of the company’s stock, valued at approximately $1,327,980.92. This trade represents a 308.32% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 0.80% of the company’s stock.

Analysts Set New Price Targets

NKE has been the subject of a number of analyst reports. The Goldman Sachs Group set a $85.00 price objective on NIKE and gave the stock a “buy” rating in a research note on Thursday, September 25th. UBS Group set a $71.00 target price on shares of NIKE and gave the stock a “neutral” rating in a report on Friday, September 19th. DZ Bank upgraded shares of NIKE from a “hold” rating to a “buy” rating in a report on Wednesday, October 1st. Truist Financial reaffirmed a “buy” rating and issued a $85.00 price objective on shares of NIKE in a research report on Wednesday, October 1st. Finally, Morgan Stanley set a $72.00 target price on shares of NIKE and gave the company a “positive” rating in a research report on Wednesday, October 1st. Three investment analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, NIKE has an average rating of “Moderate Buy” and a consensus price target of $82.24.

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.