Ritholtz Wealth Management Sells 3,496 Shares of NIKE, Inc. (NYSE:NKE)

Ritholtz Wealth Management reduced its stake in shares of NIKE, Inc. (NYSE:NKE) by 31.2% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 7,702 shares of the footwear maker’s stock after selling 3,496 shares during the quarter. Ritholtz Wealth Management’s holdings in NIKE were worth $681,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Annapolis Financial Services LLC raised its stake in shares of NIKE by 440.0% in the 1st quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock valued at $25,000 after acquiring an additional 220 shares in the last quarter. Transcendent Capital Group LLC grew its holdings in NIKE by 97.6% during the first quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker’s stock valued at $38,000 after purchasing an additional 200 shares during the last quarter. Bruce G. Allen Investments LLC raised its position in shares of NIKE by 272.5% in the second quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock valued at $39,000 after purchasing an additional 376 shares during the period. Scarborough Advisors LLC acquired a new stake in shares of NIKE in the fourth quarter worth $42,000. Finally, Triad Wealth Partners LLC bought a new stake in shares of NIKE during the 2nd quarter worth $44,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

Insiders Place Their Bets

In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the business’s stock in a transaction dated 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 trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, 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 completion of the sale, the chairman now directly 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Mark G. Parker sold 110,000 shares of the business’s stock in a transaction on 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 sale, the chairman now owns 1,102,090 shares of the company’s stock, valued at approximately $80,419,507.30. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.50% of the company’s stock.

NIKE Stock Performance

NYSE NKE opened at $82.14 on Wednesday. The firm has a market cap of $123.98 billion, a price-to-earnings ratio of 22.02, a PEG ratio of 1.96 and a beta of 1.02. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a 1-year low of $70.75 and a 1-year high of $123.39. The company has a 50 day moving average of $82.05 and a 200-day moving average of $85.41.

NIKE (NYSE:NKE) last released its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.18. The firm had revenue of $11.59 billion during the quarter, compared to analysts’ expectations of $11.64 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The business’s revenue was down 10.4% on a year-over-year basis. During the same period last year, the firm posted $0.94 EPS. On average, equities analysts forecast that NIKE, Inc. will post 2.8 earnings per share for the current fiscal year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd were given a dividend of $0.37 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $1.48 annualized dividend and a yield of 1.80%. NIKE’s dividend payout ratio (DPR) is 39.68%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on NKE shares. Truist Financial raised shares of NIKE from a “hold” rating to a “buy” rating and boosted their target price for the stock from $83.00 to $97.00 in a research report on Thursday, October 10th. Robert W. Baird boosted their price objective on NIKE from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Friday, September 20th. BMO Capital Markets lowered their target price on NIKE from $118.00 to $100.00 and set an “outperform” rating on the stock in a report on Friday, June 28th. Wedbush cut their price target on NIKE from $115.00 to $97.00 and set an “outperform” rating for the company in a report on Friday, June 28th. Finally, StockNews.com downgraded shares of NIKE from a “buy” rating to a “hold” rating in a research note on Friday, June 21st. Fourteen investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $96.56.

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.