L. Roy Papp & Associates LLP Decreases Holdings in NIKE, Inc. (NYSE:NKE)

L. Roy Papp & Associates LLP reduced its holdings in NIKE, Inc. (NYSE:NKE) by 2.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 59,900 shares of the footwear maker’s stock after selling 1,223 shares during the period. L. Roy Papp & Associates LLP’s holdings in NIKE were worth $5,295,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Advisors Asset Management Inc. lifted its stake in shares of NIKE by 86.0% in the first quarter. Advisors Asset Management Inc. now owns 20,957 shares of the footwear maker’s stock worth $1,970,000 after buying an additional 9,689 shares in the last quarter. FORA Capital LLC purchased a new position in shares of NIKE in the first quarter worth about $3,412,000. Lafayette Investments Inc. lifted its stake in shares of NIKE by 90.7% in the third quarter. Lafayette Investments Inc. now owns 46,097 shares of the footwear maker’s stock worth $4,075,000 after buying an additional 21,922 shares in the last quarter. Cetera Advisors LLC lifted its stake in shares of NIKE by 85.5% in the first quarter. Cetera Advisors LLC now owns 88,299 shares of the footwear maker’s stock worth $8,298,000 after buying an additional 40,704 shares in the last quarter. Finally, Koshinski Asset Management Inc. purchased a new position in shares of NIKE in the first quarter worth about $713,000. 64.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Piper Sandler reissued a “neutral” rating and issued a $80.00 price target on shares of NIKE in a research note on Friday, September 20th. Stifel Nicolaus reduced their target price on shares of NIKE from $88.00 to $79.00 and set a “hold” rating on the stock in a research note on Monday, August 26th. Royal Bank of Canada reduced their target price on shares of NIKE from $85.00 to $82.00 and set a “sector perform” rating on the stock in a research note on Wednesday, October 2nd. Morgan Stanley lifted 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. Finally, TD Cowen lifted their target price on shares of NIKE from $71.00 to $78.00 and gave the stock a “hold” rating in a research note on Wednesday, October 2nd. Fourteen equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $96.56.

NIKE Stock Down 0.2 %

NIKE stock traded down $0.19 during trading on Friday, reaching $78.85. The stock had a trading volume of 9,385,379 shares, compared to its average volume of 11,607,228. NIKE, Inc. has a 52-week low of $70.75 and a 52-week high of $123.39. The business has a 50 day moving average price of $82.71 and a 200 day moving average price of $84.94. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57. The stock has a market cap of $118.22 billion, a PE ratio of 22.59, a P/E/G ratio of 1.95 and a beta of 1.02.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.18. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The company had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $11.64 billion. During the same quarter in the previous year, the firm earned $0.94 earnings per share. The firm’s quarterly revenue was down 10.4% on a year-over-year basis. On average, analysts predict that NIKE, Inc. will post 2.78 EPS for the current year.

NIKE Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd were paid a $0.37 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.48 dividend on an annualized basis and a yield of 1.88%. NIKE’s dividend payout ratio is currently 42.41%.

Insider Buying and Selling

In other news, Chairman Mark G. Parker sold 52,487 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The shares were 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 owns 1,031,226 shares in the company, valued at approximately $80,435,628. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.10% of the stock is owned by insiders.

NIKE 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.