Legacy Advisors LLC Sells 2,464 Shares of NIKE, Inc. (NYSE:NKE)

Legacy Advisors LLC cut its stake in shares of NIKE, Inc. (NYSE:NKE) by 7.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 30,139 shares of the footwear maker’s stock after selling 2,464 shares during the quarter. Legacy Advisors LLC’s holdings in NIKE were worth $2,284,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in NKE. Cim LLC bought a new position in shares of NIKE in the 4th quarter valued at $14,275,000. TKG Advisors LLC acquired a new stake in shares of NIKE during the fourth quarter valued at about $1,012,000. Brown Advisory Inc. grew its holdings in shares of NIKE by 4.3% during the fourth quarter. Brown Advisory Inc. now owns 4,668,949 shares of the footwear maker’s stock worth $506,908,000 after purchasing an additional 192,752 shares during the last quarter. Missouri Trust & Investment Co increased its stake in shares of NIKE by 11.3% in the fourth quarter. Missouri Trust & Investment Co now owns 11,492 shares of the footwear maker’s stock valued at $1,248,000 after buying an additional 1,167 shares during the period. Finally, Spartan Planning & Wealth Management bought a new position in NIKE in the 4th quarter valued at approximately $182,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NKE has been the topic of a number of research reports. Truist Financial reduced their target price on shares of NIKE from $99.00 to $81.00 and set a “hold” rating on the stock in a report on Friday, June 28th. Deutsche Bank Aktiengesellschaft decreased their price objective on NIKE from $115.00 to $92.00 and set a “buy” rating for the company in a report on Wednesday, July 3rd. Oppenheimer reaffirmed an “outperform” rating and set a $120.00 target price on shares of NIKE in a report on Friday, June 28th. The Goldman Sachs Group decreased their price target on NIKE from $118.00 to $105.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Finally, Bank of America cut their price objective on NIKE from $113.00 to $104.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. Fifteen equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, NIKE has a consensus rating of “Moderate Buy” and an average price target of $95.59.

NIKE Stock Up 0.1 %

Shares of NYSE NKE opened at $83.32 on Friday. 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 has a 50-day moving average price of $77.91 and a 200-day moving average price of $89.60. The stock has a market capitalization of $124.93 billion, a P/E ratio of 22.34, a P/E/G ratio of 2.19 and a beta of 1.01. NIKE, Inc. has a 1 year low of $70.75 and a 1 year high of $123.39.

NIKE (NYSE:NKE) last released its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. The business had revenue of $12.60 billion during the quarter, compared to the consensus estimate of $12.86 billion. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The company’s quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.66 EPS. On average, equities research analysts forecast that NIKE, Inc. will post 3.1 EPS for the current fiscal year.

NIKE Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd will be issued a dividend of $0.37 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.48 annualized dividend and a yield of 1.78%. NIKE’s dividend payout ratio (DPR) is currently 39.68%.

Insider Activity at NIKE

In other news, Director Robert Holmes Swan bought 2,941 shares of NIKE stock in a transaction dated Friday, June 28th. The stock was purchased at an average price of $77.02 per share, for a total transaction of $226,515.82. Following the purchase, the director now directly owns 20,946 shares in the company, valued at approximately $1,613,260.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other NIKE news, Director Robert Holmes Swan purchased 2,941 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The stock was bought at an average cost of $77.02 per share, with a total value of $226,515.82. Following the completion of the transaction, the director now owns 20,946 shares of the company’s stock, valued at approximately $1,613,260.92. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Mark G. Parker sold 52,487 shares of NIKE stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total value of $4,093,986.00. Following the sale, the chairman now owns 1,031,226 shares in the company, valued at $80,435,628. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by insiders.

About NIKE

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.