SVB Wealth LLC Sells 5,931 Shares of NIKE, Inc. (NYSE:NKE)

SVB Wealth LLC lessened its holdings in shares of NIKE, Inc. (NYSE:NKE) by 6.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 83,494 shares of the footwear maker’s stock after selling 5,931 shares during the quarter. SVB Wealth LLC’s holdings in NIKE were worth $7,847,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cim LLC purchased a new position in NIKE during the 4th quarter valued at approximately $14,275,000. TKG Advisors LLC purchased a new position in shares of NIKE in the 4th quarter worth approximately $1,012,000. Louisiana State Employees Retirement System purchased a new position in shares of NIKE in the 4th quarter worth approximately $8,034,000. Brown Advisory Inc. boosted its holdings in shares of NIKE by 4.3% in the 4th quarter. Brown Advisory Inc. now owns 4,668,949 shares of the footwear maker’s stock worth $506,908,000 after purchasing an additional 192,752 shares during the period. Finally, International Assets Investment Management LLC boosted its holdings in shares of NIKE by 10,184.3% in the 4th quarter. International Assets Investment Management LLC now owns 388,131 shares of the footwear maker’s stock worth $42,139,000 after purchasing an additional 384,357 shares during the period. Institutional investors own 64.25% of the company’s stock.

Insider Buying and Selling at NIKE

In related news, Director Robert Holmes Swan bought 2,941 shares of the stock in a transaction dated Friday, June 28th. The shares were purchased at an average price of $77.02 per share, for a total transaction of $226,515.82. Following the completion of the purchase, the director now directly owns 20,946 shares of the company’s stock, valued at $1,613,260.92. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Chairman Mark G. Parker sold 168,378 shares of the company’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $93.14, for a total value of $15,682,726.92. Following the completion of the transaction, the chairman now owns 1,102,090 shares of the company’s stock, valued at approximately $102,648,662.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert Holmes Swan purchased 2,941 shares of NIKE stock in a transaction that occurred on Friday, June 28th. The stock was acquired at an average cost of $77.02 per share, with a total value of $226,515.82. Following the acquisition, the director now directly owns 20,946 shares in the company, valued at approximately $1,613,260.92. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 323,660 shares of company stock worth $27,973,033. 0.50% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on NKE shares. Deutsche Bank Aktiengesellschaft dropped their target price on NIKE from $115.00 to $92.00 and set a “buy” rating for the company in a report on Wednesday, July 3rd. Evercore ISI dropped their target price on NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a report on Friday, June 28th. Telsey Advisory Group dropped their target price on NIKE from $115.00 to $100.00 and set an “outperform” rating for the company in a report on Friday, June 28th. Royal Bank of Canada dropped their target price on NIKE from $100.00 to $75.00 and set a “sector perform” rating for the company in a report on Tuesday, July 2nd. Finally, TD Cowen dropped their price objective on NIKE from $75.00 to $71.00 and set a “hold” rating for the company in a report on Thursday. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, NIKE currently has an average rating of “Hold” and a consensus price target of $96.30.

NIKE Stock Up 1.4 %

NKE stock traded up $0.99 on Monday, hitting $73.55. 10,247,490 shares of the company’s stock were exchanged, compared to its average volume of 11,460,168. NIKE, Inc. has a 12-month low of $70.91 and a 12-month high of $123.39. The firm has a 50 day moving average price of $85.51 and a two-hundred day moving average price of $93.62. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.69 and a current ratio of 2.40. The stock has a market cap of $111.01 billion, a P/E ratio of 19.69, a price-to-earnings-growth ratio of 1.89 and a beta of 1.01.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.16. The business had revenue of $12.60 billion for the quarter, compared to the consensus estimate of $12.86 billion. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.66 EPS. As a group, equities research analysts expect that NIKE, Inc. will post 3.12 EPS for the current fiscal year.

NIKE Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Monday, June 3rd were paid a dividend of $0.37 per share. The ex-dividend date was Monday, June 3rd. This represents a $1.48 annualized dividend and a yield of 2.01%. NIKE’s payout ratio is presently 39.68%.

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.