Montag & Caldwell LLC Sells 9,818 Shares of NIKE, Inc. (NYSE:NKE)

Montag & Caldwell LLC lessened its holdings in NIKE, Inc. (NYSE:NKE) by 20.1% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 39,061 shares of the footwear maker’s stock after selling 9,818 shares during the quarter. Montag & Caldwell LLC’s holdings in NIKE were worth $2,944,000 as of its most recent filing with the Securities & Exchange Commission.

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

Analyst Upgrades and Downgrades

Several research firms recently weighed in on NKE. Robert W. Baird decreased their price objective on NIKE from $125.00 to $100.00 and set an “outperform” rating for the company in a report on Friday, June 28th. BMO Capital Markets lowered their price target on shares of NIKE from $118.00 to $100.00 and set an “outperform” rating for the company in a research report on Friday, June 28th. Stifel Nicolaus cut their price objective on shares of NIKE from $88.00 to $79.00 and set a “hold” rating on the stock in a report on Monday, August 26th. Deutsche Bank Aktiengesellschaft dropped their target price on NIKE from $115.00 to $92.00 and set a “buy” rating on the stock in a research report on Wednesday, July 3rd. Finally, Truist Financial reduced their price target on NIKE from $99.00 to $81.00 and set a “hold” rating for the company in a research 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 company’s stock. Based on data from MarketBeat.com, NIKE has a consensus rating of “Moderate Buy” and an average price target of $95.59.

Insider Buying and Selling at NIKE

In other NIKE news, Director Robert Holmes Swan purchased 2,941 shares of the business’s stock in a transaction that occurred on 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 $1,613,260.92. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Chairman Mark G. Parker sold 52,487 shares of the business’s 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 sale, the chairman now owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Robert Holmes Swan acquired 2,941 shares of the firm’s stock in a transaction on Friday, June 28th. The shares were bought at an average cost 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 of the company’s stock, valued at $1,613,260.92. The disclosure for this purchase can be found here. 0.50% of the stock is owned by corporate insiders.

NIKE Stock Performance

NYSE NKE opened at $79.01 on Monday. The firm has a market capitalization of $118.46 billion, a P/E ratio of 21.18, a PEG ratio of 2.08 and a beta of 1.02. The stock has a 50-day simple moving average of $77.23 and a two-hundred day simple moving average of $87.64. 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, Inc. has a fifty-two week low of $70.75 and a fifty-two week high of $123.39.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.16. The company had revenue of $12.60 billion during the quarter, compared to analysts’ expectations of $12.86 billion. NIKE had a return on equity of 42.63% and a net margin of 11.10%. NIKE’s quarterly revenue was down 1.6% on a year-over-year basis. During the same period last year, the business earned $0.66 earnings per share. On average, equities analysts forecast that NIKE, Inc. will post 3.06 earnings per share for the current year.

NIKE Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd will be given 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 1.87%. NIKE’s dividend payout ratio is presently 39.68%.

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.