Highland Capital Management LLC Has $7.17 Million Stock Holdings in NIKE, Inc. (NYSE:NKE)

Highland Capital Management LLC decreased its stake in NIKE, Inc. (NYSE:NKE) by 18.3% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 81,153 shares of the footwear maker’s stock after selling 18,205 shares during the quarter. Highland Capital Management LLC’s holdings in NIKE were worth $7,174,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. Ascent Wealth Partners LLC grew its stake in NIKE by 0.4% during the first quarter. Ascent Wealth Partners LLC now owns 28,513 shares of the footwear maker’s stock worth $2,680,000 after buying an additional 115 shares during the last quarter. Condor Capital Management grew its position in NIKE by 0.4% during the 1st quarter. Condor Capital Management now owns 26,079 shares of the footwear maker’s stock worth $2,451,000 after acquiring an additional 116 shares during the last quarter. Lodestone Wealth Management LLC increased its holdings in NIKE by 5.5% during the 1st quarter. Lodestone Wealth Management LLC now owns 2,248 shares of the footwear maker’s stock valued at $211,000 after purchasing an additional 118 shares in the last quarter. Nvwm LLC raised its position in NIKE by 1.0% in the 1st quarter. Nvwm LLC now owns 11,568 shares of the footwear maker’s stock valued at $1,091,000 after purchasing an additional 120 shares during the last quarter. Finally, Garrison Point Advisors LLC boosted its stake in NIKE by 1.9% in the third quarter. Garrison Point Advisors LLC now owns 6,704 shares of the footwear maker’s stock worth $593,000 after purchasing an additional 126 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Trading Down 0.2 %

Shares of NYSE:NKE opened at $78.85 on Friday. The firm has a market cap of $118.22 billion, a price-to-earnings ratio of 22.59, a PEG ratio of 1.95 and a beta of 1.02. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a 12 month low of $70.75 and a 12 month high of $123.39. The company’s fifty day simple moving average is $82.71 and its 200 day simple moving average is $84.98.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.18. The company had revenue of $11.59 billion for the quarter, compared to analyst estimates of $11.64 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The company’s quarterly revenue was down 10.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.94 earnings per share. As a group, research analysts forecast that NIKE, Inc. will post 2.78 EPS for the current fiscal year.

NIKE Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd were issued a $0.37 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.88%. NIKE’s dividend payout ratio (DPR) is presently 42.41%.

Analyst Ratings Changes

A number of analysts have recently weighed in on NKE shares. Raymond James restated a “market perform” rating on shares of NIKE in a research note on Friday, June 28th. Morgan Stanley boosted their target price on shares of NIKE from $79.00 to $82.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 25th. BMO Capital Markets decreased their price target on shares of NIKE from $118.00 to $100.00 and set an “outperform” rating on the stock in a research note on Friday, June 28th. Jefferies Financial Group upped their price objective on NIKE from $80.00 to $85.00 and gave the stock a “hold” rating in a report on Monday, September 30th. Finally, Piper Sandler reissued a “neutral” rating and issued a $80.00 target price on shares of NIKE in a research note on Friday, September 20th. Fourteen research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $96.56.

Insider Transactions at NIKE

In related news, Chairman Mark G. Parker sold 52,487 shares of the firm’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 transaction, the chairman now owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.10% of the stock is currently owned by insiders.

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.