Bar Harbor Wealth Management Sells 81,996 Shares of NIKE, Inc. $NKE

Bar Harbor Wealth Management trimmed its position in NIKE, Inc. (NYSE:NKE) by 88.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,867 shares of the footwear maker’s stock after selling 81,996 shares during the period. Bar Harbor Wealth Management’s holdings in NIKE were worth $772,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Caldwell Sutter Capital Inc. grew its position in shares of NIKE by 6.3% during the 2nd quarter. Caldwell Sutter Capital Inc. now owns 2,390 shares of the footwear maker’s stock valued at $170,000 after purchasing an additional 142 shares in the last quarter. Westmount Partners LLC grew its position in shares of NIKE by 2.9% during the 2nd quarter. Westmount Partners LLC now owns 5,165 shares of the footwear maker’s stock valued at $367,000 after purchasing an additional 146 shares in the last quarter. HB Wealth Management LLC grew its position in shares of NIKE by 0.3% during the 2nd quarter. HB Wealth Management LLC now owns 52,012 shares of the footwear maker’s stock valued at $3,695,000 after purchasing an additional 147 shares in the last quarter. Matrix Trust Co grew its position in shares of NIKE by 53.1% during the 2nd quarter. Matrix Trust Co now owns 441 shares of the footwear maker’s stock valued at $31,000 after purchasing an additional 153 shares in the last quarter. Finally, Summit Financial Strategies Inc. grew its position in shares of NIKE by 3.8% during the 2nd quarter. Summit Financial Strategies Inc. now owns 4,270 shares of the footwear maker’s stock valued at $303,000 after purchasing an additional 155 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on NKE. UBS Group set a $71.00 price target on shares of NIKE and gave the company a “neutral” rating in a research report on Friday, September 19th. JPMorgan Chase & Co. boosted their price target on shares of NIKE from $93.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, October 1st. DZ Bank upgraded shares of NIKE from a “hold” rating to a “buy” rating in a research report on Wednesday, October 1st. Telsey Advisory Group reiterated a “market perform” rating and issued a $75.00 target price on shares of NIKE in a research report on Wednesday, October 1st. Finally, Piper Sandler set a $84.00 target price on shares of NIKE and gave the stock an “overweight” rating in a research report on Wednesday, October 1st. Three research analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $81.57.

NIKE Stock Performance

NYSE NKE opened at $68.09 on Friday. The company has a 50-day simple moving average of $73.99 and a two-hundred day simple moving average of $67.29. The company has a quick ratio of 1.45, a current ratio of 2.19 and a debt-to-equity ratio of 0.59. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $84.76. The firm has a market cap of $100.56 billion, a price-to-earnings ratio of 34.92, a PEG ratio of 2.52 and a beta of 1.29.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.22. NIKE had a net margin of 6.23% and a return on equity of 21.16%. The business had revenue of $11.72 billion during the quarter, compared to analyst estimates of $10.96 billion. During the same period in the prior year, the business posted $0.70 earnings per share. The company’s revenue was up 1.0% on a year-over-year basis. On average, equities analysts forecast that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.3%. The ex-dividend date was Tuesday, September 2nd. NIKE’s dividend payout ratio is presently 82.05%.

Insider Activity

In other NIKE news, Chairman Mark G. Parker sold 86,078 shares of the company’s stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $75.93, for a total transaction of $6,535,902.54. Following the completion of the sale, the chairman directly owned 744,988 shares in the company, valued at $56,566,938.84. This represents a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Treasure Heinle sold 4,300 shares of the company’s stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $71.27, for a total transaction of $306,461.00. Following the sale, the executive vice president owned 29,396 shares of the company’s stock, valued at approximately $2,095,052.92. The trade was a 12.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 200,378 shares of company stock valued at $14,794,264. Company insiders own 0.80% of the company’s stock.

NIKE Company 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.