Camelot Portfolios LLC Lowers Stock Holdings in NIKE, Inc. $NKE

Camelot Portfolios LLC lowered its holdings in NIKE, Inc. (NYSE:NKE) by 5.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,942 shares of the footwear maker’s stock after selling 543 shares during the period. Camelot Portfolios LLC’s holdings in NIKE were worth $706,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in NKE. Stone House Investment Management LLC purchased a new stake in shares of NIKE in the first quarter valued at $25,000. Saudi Central Bank acquired a new stake in NIKE during the 1st quarter worth approximately $30,000. Matrix Trust Co raised its holdings in NIKE by 53.1% in the second quarter. Matrix Trust Co now owns 441 shares of the footwear maker’s stock valued at $31,000 after buying an additional 153 shares during the period. Opal Wealth Advisors LLC purchased a new stake in NIKE during the second quarter worth approximately $35,000. Finally, Roxbury Financial LLC increased its position in shares of NIKE by 52.1% in the first quarter. Roxbury Financial LLC now owns 587 shares of the footwear maker’s stock worth $37,000 after acquiring an additional 201 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Piper Sandler raised their price objective on NIKE from $70.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, June 27th. Truist Financial lowered their price target on shares of NIKE from $82.00 to $73.00 and set a “buy” rating for the company in a report on Tuesday, June 24th. Telsey Advisory Group lifted their target price on NIKE from $70.00 to $75.00 and gave the stock a “market perform” rating in a research report on Tuesday, September 23rd. The Goldman Sachs Group set a $85.00 price objective on NIKE and gave the company a “buy” rating in a research note on Thursday. Finally, Zacks Research raised NIKE from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 26th. Three research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $79.62.

Insider Buying and Selling

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the company’s stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $72.29, for a total value of $7,951,900.00. Following the completion of the transaction, the chairman owned 842,361 shares in the company, valued at approximately $60,894,276.69. This represents a 11.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.80% of the company’s stock.

NIKE Price Performance

Shares of NYSE:NKE opened at $69.31 on Friday. The company has a quick ratio of 1.50, a current ratio of 2.21 and a debt-to-equity ratio of 0.60. NIKE, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $90.26. The firm has a 50-day simple moving average of $74.99 and a 200 day simple moving average of $67.30. The company has a market cap of $102.36 billion, a PE ratio of 32.09, a P/E/G ratio of 2.52 and a beta of 1.24.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, June 26th. The footwear maker reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.02. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The business had revenue of $11.10 billion during the quarter, compared to the consensus estimate of $10.69 billion. During the same quarter in the prior year, the firm earned $0.99 EPS. The company’s revenue for the quarter was down 11.9% compared to the same quarter last year. On average, sell-side analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be given a $0.40 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $1.60 annualized dividend and a yield of 2.3%. NIKE’s dividend payout ratio is 74.07%.

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.