Lyell Wealth Management LP Sells 2,918 Shares of NIKE, Inc. (NYSE:NKE)

Lyell Wealth Management LP decreased its holdings in shares of NIKE, Inc. (NYSE:NKE) by 3.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 84,343 shares of the footwear maker’s stock after selling 2,918 shares during the period. Lyell Wealth Management LP’s holdings in NIKE were worth $6,357,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in NIKE by 0.5% during the first quarter. Vanguard Group Inc. now owns 110,044,821 shares of the footwear maker’s stock worth $10,342,012,000 after purchasing an additional 501,792 shares during the period. Capital International Investors lifted its stake in NIKE by 34.9% during the fourth quarter. Capital International Investors now owns 27,609,613 shares of the footwear maker’s stock worth $2,997,628,000 after purchasing an additional 7,143,775 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in NIKE by 87.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 17,135,431 shares of the footwear maker’s stock worth $1,860,395,000 after purchasing an additional 7,996,434 shares during the period. Norges Bank bought a new position in NIKE during the fourth quarter worth about $1,315,097,000. Finally, Fisher Asset Management LLC lifted its stake in NIKE by 2.2% during the fourth quarter. Fisher Asset Management LLC now owns 9,880,038 shares of the footwear maker’s stock worth $1,072,676,000 after purchasing an additional 211,360 shares during the period. Institutional investors own 64.25% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on NKE. UBS Group reissued a “neutral” rating and issued a $78.00 target price on shares of NIKE in a report on Friday, June 28th. Guggenheim reduced their target price on NIKE from $130.00 to $115.00 and set a “buy” rating on the stock in a report on Friday, June 28th. Robert W. Baird reduced their target price on NIKE from $125.00 to $100.00 and set an “outperform” rating on the stock in a report on Friday, June 28th. Williams Trading raised NIKE from a “sell” rating to a “buy” rating and boosted their target price for the stock from $67.00 to $93.00 in a report on Friday, August 16th. Finally, Truist Financial reduced their target price on NIKE from $99.00 to $81.00 and set a “hold” rating on the stock in a report on Friday, June 28th. Fifteen investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $95.59.

NIKE Stock Performance

Shares of NIKE stock opened at $79.01 on Friday. The firm has a fifty day moving average of $77.23 and a two-hundred day moving average of $87.76. The stock has a market capitalization of $118.46 billion, a price-to-earnings ratio of 21.18, a PEG ratio of 2.08 and a beta of 1.02. 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 quick ratio of 1.69 and a current ratio of 2.40.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The business had revenue of $12.60 billion during the quarter, compared to analysts’ expectations of $12.86 billion. During the same quarter in the prior year, the company earned $0.66 EPS. The firm’s quarterly revenue was down 1.6% on a year-over-year basis. As a group, equities research analysts predict that NIKE, Inc. will post 3.06 EPS for the current year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd will be given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date is Tuesday, September 3rd. NIKE’s dividend payout ratio is currently 39.68%.

Insider Activity at NIKE

In related news, Chairman Mark G. Parker sold 110,000 shares of the company’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 sale, the chairman now owns 1,102,090 shares in the company, valued at approximately $80,419,507.30. The transaction was disclosed in a filing with the SEC, which is available through this link. In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the completion of the transaction, the chairman now owns 1,031,226 shares in the company, valued at approximately $80,435,628. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Mark G. Parker sold 110,000 shares of the stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $72.97, for a total value of $8,026,700.00. Following the transaction, the chairman now owns 1,102,090 shares of the company’s stock, valued at approximately $80,419,507.30. The disclosure for this sale can be found here. 0.50% of the stock is owned by corporate 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.