Secure Asset Management LLC reduced its stake in shares of NIKE, Inc. (NYSE:NKE – Free Report) 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
Read Our Latest Stock Analysis on NKE
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 – Get Free Report) 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.
See Also
- Five stocks we like better than NIKE
- Stock Ratings and Recommendations: Understanding Analyst Ratings
- CAVA Stock Rallies as Earnings Confirm It’s a Top Growth Play
- What Are Dividend Champions? How to Invest in the Champions
- 3 High Short-Interest Stocks Poised for a Rate Cut Squeeze
- 3 Ways To Invest In Coffee, Other Than Drinking It
- MarketBeat Week in Review – 8/19 – 8/23
Want to see what other hedge funds are holding NKE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NIKE, Inc. (NYSE:NKE – Free Report).
Receive News & Ratings for NIKE Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NIKE and related companies with MarketBeat.com's FREE daily email newsletter.