Carret Asset Management LLC Sells 4,100 Shares of NIKE, Inc. (NYSE:NKE)

Carret Asset Management LLC cut its position in NIKE, Inc. (NYSE:NKE) by 33.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,120 shares of the footwear maker’s stock after selling 4,100 shares during the quarter. Carret Asset Management LLC’s holdings in NIKE were worth $763,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Piscataqua Savings Bank raised its position in shares of NIKE by 2.1% in the 4th quarter. Piscataqua Savings Bank now owns 4,861 shares of the footwear maker’s stock valued at $528,000 after buying an additional 100 shares in the last quarter. Physicians Financial Services Inc. increased its position in NIKE by 0.6% during the 4th quarter. Physicians Financial Services Inc. now owns 16,077 shares of the footwear maker’s stock worth $1,745,000 after purchasing an additional 100 shares in the last quarter. ZWJ Investment Counsel Inc. increased its position in NIKE by 4.0% during the 4th quarter. ZWJ Investment Counsel Inc. now owns 2,599 shares of the footwear maker’s stock worth $282,000 after purchasing an additional 100 shares in the last quarter. Kornitzer Capital Management Inc. KS increased its position in NIKE by 0.4% during the 4th quarter. Kornitzer Capital Management Inc. KS now owns 25,568 shares of the footwear maker’s stock worth $2,776,000 after purchasing an additional 100 shares in the last quarter. Finally, Claro Advisors LLC increased its position in NIKE by 0.8% during the 4th quarter. Claro Advisors LLC now owns 12,227 shares of the footwear maker’s stock worth $1,327,000 after purchasing an additional 101 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Stock Down 1.0 %

Shares of NYSE NKE opened at $75.27 on Thursday. The firm has a market cap of $113.61 billion, a PE ratio of 20.18, a P/E/G ratio of 1.85 and a beta of 1.01. NIKE, Inc. has a 12-month low of $74.29 and a 12-month high of $123.39. The company’s fifty day simple moving average is $92.58 and its 200 day simple moving average is $98.22. 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 issued its earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.16. The business had revenue of $12.60 billion for the quarter, compared to analyst estimates of $12.86 billion. NIKE had a net margin of 11.10% and a return on equity of 42.63%. NIKE’s revenue was down 1.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.66 earnings per share. As a group, sell-side analysts forecast that NIKE, Inc. will post 3.32 earnings per share for the current fiscal year.

NIKE Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Monday, June 3rd were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date of this dividend was Monday, June 3rd. NIKE’s dividend payout ratio (DPR) is 39.68%.

Insider Buying and Selling at NIKE

In other NIKE news, VP Johanna Nielsen sold 282 shares of the firm’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $93.64, for a total value of $26,406.48. Following the transaction, the vice president now directly owns 730 shares of the company’s stock, valued at $68,357.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other NIKE news, VP Johanna Nielsen sold 282 shares of the firm’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $93.64, for a total value of $26,406.48. Following the transaction, the vice president now directly owns 730 shares of the company’s stock, valued at $68,357.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Mark G. Parker sold 168,378 shares of the firm’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $93.14, for a total transaction of $15,682,726.92. Following the completion of the transaction, the chairman now directly owns 1,102,090 shares in the company, valued at $102,648,662.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 213,660 shares of company stock valued at $19,946,333. Corporate insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on NKE. Wells Fargo & Company lowered their price objective on shares of NIKE from $115.00 to $92.00 and set an “overweight” rating for the company in a research report on Friday, June 28th. Raymond James reiterated a “market perform” rating on shares of NIKE in a research report on Friday, June 28th. Piper Sandler lowered their price objective on shares of NIKE from $107.00 to $98.00 and set a “neutral” rating for the company in a research report on Friday, March 22nd. Truist Financial lowered their price objective 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. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $79.00 price objective (down from $114.00) on shares of NIKE in a research report on Friday, June 28th. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, NIKE presently has an average rating of “Hold” and an average price target of $97.19.

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.