Bank Pictet & Cie Europe AG Sells 301,417 Shares of NIKE, Inc. (NYSE:NKE)

Bank Pictet & Cie Europe AG lessened its position in NIKE, Inc. (NYSE:NKE) by 59.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 203,932 shares of the footwear maker’s stock after selling 301,417 shares during the period. Bank Pictet & Cie Europe AG’s holdings in NIKE were worth $15,370,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in NKE. J.Safra Asset Management Corp lifted its position in NIKE by 12.9% during the fourth quarter. J.Safra Asset Management Corp now owns 883 shares of the footwear maker’s stock valued at $96,000 after purchasing an additional 101 shares during the last quarter. Beta Wealth Group Inc. lifted its position in NIKE by 2.3% during the fourth quarter. Beta Wealth Group Inc. now owns 4,501 shares of the footwear maker’s stock valued at $489,000 after purchasing an additional 101 shares during the last quarter. Kennon Green & Company LLC lifted its holdings in shares of NIKE by 1.6% in the 4th quarter. Kennon Green & Company LLC now owns 6,765 shares of the footwear maker’s stock worth $734,000 after acquiring an additional 107 shares during the last quarter. Hexagon Capital Partners LLC lifted its holdings in shares of NIKE by 5.5% in the 4th quarter. Hexagon Capital Partners LLC now owns 2,155 shares of the footwear maker’s stock worth $234,000 after acquiring an additional 113 shares during the last quarter. Finally, Kampmann Melissa S. lifted its holdings in shares of NIKE by 0.8% in the 4th quarter. Kampmann Melissa S. now owns 15,050 shares of the footwear maker’s stock worth $1,634,000 after acquiring an additional 115 shares during the last quarter. Institutional investors own 64.25% of the company’s stock.

NIKE Stock Performance

NYSE:NKE traded up $0.64 during trading hours on Friday, hitting $84.05. 9,219,749 shares of the company were exchanged, compared to its average volume of 11,466,775. The stock has a market capitalization of $126.86 billion, a price-to-earnings ratio of 22.53, a PEG ratio of 1.92 and a beta of 1.01. NIKE, Inc. has a 52-week low of $70.75 and a 52-week high of $123.39. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.40 and a quick ratio of 1.69. The company’s 50 day moving average price is $79.07 and its 200-day moving average price is $90.23.

NIKE (NYSE:NKE) last released its earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.16. The company had revenue of $12.60 billion for the quarter, compared to the consensus estimate of $12.86 billion. NIKE had a net margin of 11.10% and a return on equity of 42.63%. NIKE’s revenue was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.66 EPS. As a group, research analysts forecast that NIKE, Inc. will post 3.12 earnings per share for the current year.

NIKE Dividend Announcement

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

Insider Buying and Selling at NIKE

In other NIKE news, Director Robert Holmes Swan acquired 2,941 shares of the firm’s stock in a transaction on Friday, June 28th. The stock was acquired at an average cost of $77.02 per share, for a total transaction of $226,515.82. Following the purchase, the director now owns 20,946 shares in the company, valued at approximately $1,613,260.92. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Chairman Mark G. Parker sold 110,000 shares of the business’s stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $72.97, for a total value of $8,026,700.00. Following the completion of the transaction, the chairman now directly owns 1,102,090 shares in the company, valued at approximately $80,419,507.30. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Robert Holmes Swan bought 2,941 shares of the firm’s stock in a transaction that occurred on 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 $1,613,260.92. The disclosure for this purchase can be found here. Company insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Raymond James restated a “market perform” rating on shares of NIKE in a report on Friday, June 28th. Piper Sandler restated a “neutral” rating and issued a $80.00 target price on shares of NIKE in a report on Friday. Morgan Stanley restated an “equal weight” rating and issued a $79.00 target price (down previously from $114.00) on shares of NIKE in a report on Friday, June 28th. Telsey Advisory Group decreased their price objective on shares of NIKE from $115.00 to $100.00 and set an “outperform” rating for the company in a report on Friday, June 28th. Finally, Truist Financial decreased their price objective on shares of NIKE from $99.00 to $81.00 and set a “hold” rating for the company in a report 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 company. According to MarketBeat, NIKE presently has an average rating of “Moderate Buy” and an average target price of $95.93.

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.