Abound Wealth Management Trims Stock Position in NIKE, Inc. (NYSE:NKE)

Abound Wealth Management trimmed its stake in NIKE, Inc. (NYSE:NKE) by 30.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 569 shares of the footwear maker’s stock after selling 250 shares during the period. Abound Wealth Management’s holdings in NIKE were worth $43,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of NKE. Cim LLC bought a new stake in NIKE during the 4th quarter valued at approximately $14,275,000. TKG Advisors LLC bought a new position in NIKE in the fourth quarter worth $1,012,000. Spartan Planning & Wealth Management purchased a new position in NIKE during the fourth quarter valued at $182,000. CreativeOne Wealth LLC boosted its holdings in shares of NIKE by 16.1% during the 4th quarter. CreativeOne Wealth LLC now owns 20,542 shares of the footwear maker’s stock valued at $2,230,000 after buying an additional 2,846 shares in the last quarter. Finally, Edmond DE Rothschild Holding S.A. grew its position in shares of NIKE by 27.9% in the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 113,299 shares of the footwear maker’s stock worth $12,301,000 after buying an additional 24,686 shares during the period. 64.25% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at NIKE

In other news, Director Robert Holmes Swan acquired 2,941 shares of NIKE stock in a transaction on Friday, June 28th. The shares were acquired at an average price of $77.02 per share, with a total value 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 is available through the SEC website. In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of NIKE stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total value of $4,093,986.00. Following the completion of the transaction, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert Holmes Swan bought 2,941 shares of NIKE stock in a transaction dated Friday, June 28th. The stock was acquired at an average price of $77.02 per share, for a total transaction of $226,515.82. Following the completion of the acquisition, 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. Insiders own 0.50% of the company’s stock.

NIKE Price Performance

NYSE:NKE opened at $79.01 on Monday. The business’s 50-day simple moving average is $77.23 and its two-hundred day simple moving average is $87.64. NIKE, Inc. has a 52 week low of $70.75 and a 52 week high of $123.39. The stock has a market cap of $118.46 billion, a PE ratio of 21.18, a P/E/G ratio of 2.08 and a beta of 1.02. 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 posted its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.16. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The company had revenue of $12.60 billion for the quarter, compared to analysts’ expectations of $12.86 billion. During the same period in the previous year, the firm earned $0.66 EPS. The firm’s revenue was down 1.6% compared to the same quarter last year. As a group, analysts forecast that NIKE, Inc. will post 3.06 EPS for the current fiscal year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 1.87%. The ex-dividend date is Tuesday, September 3rd. NIKE’s dividend payout ratio (DPR) is presently 39.68%.

Analyst Ratings Changes

A number of research analysts recently issued reports on NKE shares. Truist Financial lowered their price target on shares of NIKE from $99.00 to $81.00 and set a “hold” rating for the company in a research report on Friday, June 28th. Oppenheimer restated an “outperform” rating and issued a $120.00 price target on shares of NIKE in a research note on Friday, June 28th. Deutsche Bank Aktiengesellschaft lowered their price objective on NIKE from $115.00 to $92.00 and set a “buy” rating for the company in a research note on Wednesday, July 3rd. Williams Trading raised shares of NIKE from a “sell” rating to a “buy” rating and increased their price objective for the company from $67.00 to $93.00 in a research report on Friday, August 16th. Finally, Robert W. Baird decreased their target price on shares of NIKE from $125.00 to $100.00 and set an “outperform” rating for the company in a report on Friday, June 28th. Fifteen research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $95.59.

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.