Secure Asset Management LLC Sells 1,956 Shares of NIKE, Inc. (NYSE:NKE)

Secure Asset Management LLC reduced its stake in shares of NIKE, Inc. (NYSE:NKE) by 32.1% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 4,130 shares of the footwear maker’s stock after selling 1,956 shares during the period. Secure Asset Management LLC’s holdings in NIKE were worth $311,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Annapolis Financial Services LLC grew its position in NIKE by 440.0% in the 1st quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock worth $25,000 after purchasing an additional 220 shares in the last quarter. True Wealth Design LLC lifted 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 worth $32,000 after acquiring an additional 150 shares during the period. Frank Rimerman Advisors LLC purchased a new position in NIKE in the fourth quarter worth $33,000. Core Wealth Advisors Inc. grew its stake in NIKE by 408.5% in the 4th 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 stake in shares of NIKE during the 4th quarter valued at $36,000. 64.25% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Chairman Mark G. Parker sold 52,487 shares of the stock in a transaction on 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 transaction, the chairman now owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Robert Holmes Swan acquired 2,941 shares of the company’s stock in a transaction dated Friday, June 28th. The stock was purchased at an average price of $77.02 per share, with a total value of $226,515.82. Following the completion of the purchase, the director now owns 20,946 shares in the company, valued at approximately $1,613,260.92. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction on 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 sale, the chairman now owns 1,031,226 shares of the company’s stock, valued at $80,435,628. The disclosure for this sale can be found here. Insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on NKE shares. Bank of America decreased their price objective on shares of NIKE from $113.00 to $104.00 and set a “buy” rating for the company in a report on Friday, June 28th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $79.00 price target (down previously from $114.00) on shares of NIKE in a report on Friday, June 28th. Piper Sandler reiterated a “neutral” rating and issued a $80.00 price objective on shares of NIKE in a research note on Friday. Guggenheim lowered their target price on NIKE from $130.00 to $115.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. Finally, Truist Financial cut their price target on NIKE from $99.00 to $81.00 and set a “hold” rating for the company in a research note on Friday, June 28th. Fifteen equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, NIKE presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.93.

NIKE Price Performance

Shares of NYSE NKE traded up $0.64 during mid-day trading on Friday, reaching $84.05. 9,219,749 shares of the company were exchanged, compared to its average volume of 11,466,775. NIKE, Inc. has a 52 week low of $70.75 and a 52 week high of $123.39. The company’s 50 day moving average price is $79.07 and its 200 day moving average price is $90.31. The stock has a market capitalization of $126.86 billion, a PE ratio of 22.53, a PEG ratio of 1.92 and a beta of 1.01. The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.55.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.16. The firm had revenue of $12.60 billion during 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 revenue was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.66 earnings per share. Sell-side analysts forecast that NIKE, Inc. will post 3.12 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date is Tuesday, September 3rd. NIKE’s payout ratio is currently 39.68%.

NIKE Company 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.