NIKE, Inc. (NYSE:NKE) Shares Sold by Ameriprise Financial Inc.

Ameriprise Financial Inc. trimmed its stake in NIKE, Inc. (NYSE:NKE) by 7.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,407,168 shares of the footwear maker’s stock after selling 659,847 shares during the quarter. Ameriprise Financial Inc. owned about 0.56% of NIKE worth $632,966,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Cim LLC acquired a new stake in shares of NIKE during the 4th quarter worth $14,275,000. TKG Advisors LLC acquired a new stake in NIKE during the fourth quarter worth about $1,012,000. Spartan Planning & Wealth Management purchased a new position in shares of NIKE in the 4th quarter worth about $182,000. Advisors Asset Management Inc. lifted its stake in shares of NIKE by 86.0% in the 1st quarter. Advisors Asset Management Inc. now owns 20,957 shares of the footwear maker’s stock valued at $1,970,000 after purchasing an additional 9,689 shares in the last quarter. Finally, Enzi Wealth purchased a new stake in shares of NIKE during the 4th quarter worth about $520,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Truist Financial lifted their price target on shares of NIKE from $81.00 to $85.00 and gave the company a “hold” rating in a research report on Friday, September 20th. Oppenheimer reaffirmed an “outperform” rating and set a $120.00 price target on shares of NIKE in a research report on Friday, June 28th. Evercore ISI increased their price target on NIKE from $105.00 to $110.00 and gave the company an “outperform” rating in a report on Friday, September 20th. JPMorgan Chase & Co. reduced their price objective on NIKE from $83.00 to $80.00 and set a “neutral” rating on the stock in a research note on Monday. Finally, The Goldman Sachs Group lowered their target price on NIKE from $118.00 to $105.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Fifteen research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $96.52.

NIKE Trading Up 1.6 %

NIKE stock opened at $89.39 on Friday. NIKE, Inc. has a 12-month low of $70.75 and a 12-month high of $123.39. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.40 and a quick ratio of 1.69. The stock has a market capitalization of $134.92 billion, a PE ratio of 23.97, a price-to-earnings-growth ratio of 2.30 and a beta of 1.02. The firm has a 50 day simple moving average of $79.00 and a 200-day simple moving average of $86.83.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.16. The company had revenue of $12.60 billion for 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%. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same period last year, the firm earned $0.66 EPS. As a group, equities research analysts expect that NIKE, Inc. will post 3.04 EPS for the current fiscal year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd will be given a $0.37 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $1.48 annualized dividend and a yield of 1.66%. NIKE’s dividend payout ratio (DPR) is 39.68%.

Insiders Place Their Bets

In other news, Chairman Mark G. Parker sold 52,487 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total transaction 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. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Chairman Mark G. Parker sold 110,000 shares of the company’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $72.97, for a total value of $8,026,700.00. Following the completion of the sale, the chairman now owns 1,102,090 shares in the company, valued at approximately $80,419,507.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Mark G. Parker sold 52,487 shares of the 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 disclosure for this sale can be found here. 0.50% of the stock is currently owned by company insiders.

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.