Summit Global Investments Sells 12,064 Shares of NIKE, Inc. $NKE

Summit Global Investments decreased its stake in shares of NIKE, Inc. (NYSE:NKE) by 67.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 5,849 shares of the footwear maker’s stock after selling 12,064 shares during the quarter. Summit Global Investments’ holdings in NIKE were worth $408,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in NKE. Mitchell Mcleod Pugh & Williams Inc. lifted its holdings in shares of NIKE by 1.0% during the 2nd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 14,176 shares of the footwear maker’s stock worth $1,007,000 after acquiring an additional 134 shares during the period. Main Street Financial Solutions LLC increased its stake in NIKE by 4.2% in the second quarter. Main Street Financial Solutions LLC now owns 3,441 shares of the footwear maker’s stock valued at $244,000 after acquiring an additional 139 shares during the period. St. Clair Advisors LLC raised its position in NIKE by 0.9% in the third quarter. St. Clair Advisors LLC now owns 15,217 shares of the footwear maker’s stock worth $1,061,000 after purchasing an additional 140 shares in the last quarter. Salomon & Ludwin LLC lifted its stake in NIKE by 10.1% during the second quarter. Salomon & Ludwin LLC now owns 1,575 shares of the footwear maker’s stock worth $120,000 after purchasing an additional 145 shares during the period. Finally, Spirepoint Private Client LLC boosted its holdings in NIKE by 0.4% during the third quarter. Spirepoint Private Client LLC now owns 36,140 shares of the footwear maker’s stock valued at $2,520,000 after purchasing an additional 153 shares in the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on NKE. Raymond James Financial reissued a “market perform” rating on shares of NIKE in a report on Monday, December 15th. BTIG Research reiterated a “buy” rating and set a $100.00 price objective on shares of NIKE in a research note on Tuesday, January 27th. JPMorgan Chase & Co. reduced their target price on shares of NIKE from $100.00 to $86.00 and set a “buy” rating on the stock in a research note on Monday, November 17th. Piper Sandler set a $75.00 target price on shares of NIKE and gave the stock an “overweight” rating in a research report on Friday, December 19th. Finally, Guggenheim restated a “buy” rating on shares of NIKE in a research report on Wednesday, December 31st. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $74.61.

Insider Buying and Selling at NIKE

In other NIKE news, Chairman Mark G. Parker sold 86,078 shares of the company’s stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $64.80, for a total transaction of $5,577,854.40. Following the transaction, the chairman directly owned 647,615 shares in the company, valued at approximately $41,965,452. This represents a 11.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Timothy D. Cook purchased 50,000 shares of the stock in a transaction dated Monday, December 22nd. The shares were acquired at an average price of $58.97 per share, with a total value of $2,948,500.00. Following the transaction, the director owned 105,480 shares in the company, valued at $6,220,155.60. This trade represents a 90.12% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have acquired a total of 91,229 shares of company stock valued at $5,452,640 over the last ninety days. Company insiders own 0.80% of the company’s stock.

NIKE Trading Down 1.2%

Shares of NYSE NKE opened at $61.84 on Friday. NIKE, Inc. has a 1-year low of $52.28 and a 1-year high of $82.44. The company has a 50-day moving average of $63.96 and a two-hundred day moving average of $68.67. The company has a market cap of $91.55 billion, a PE ratio of 36.38, a P/E/G ratio of 3.20 and a beta of 1.28. The company has a current ratio of 2.06, a quick ratio of 1.40 and a debt-to-equity ratio of 0.50.

NIKE (NYSE:NKE) last released its quarterly earnings results on Thursday, December 18th. The footwear maker reported $0.53 EPS for the quarter, beating the consensus estimate of $0.37 by $0.16. NIKE had a net margin of 5.43% and a return on equity of 18.43%. The business had revenue of $12.43 billion for the quarter, compared to analysts’ expectations of $12.19 billion. During the same period in the prior year, the firm earned $0.78 earnings per share. NIKE’s revenue was up .6% compared to the same quarter last year. As a group, equities analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Stockholders of record on Monday, December 1st were given a dividend of $0.41 per share. The ex-dividend date was Monday, December 1st. This is an increase from NIKE’s previous quarterly dividend of $0.40. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.7%. NIKE’s dividend payout ratio is presently 96.47%.

About NIKE

Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).