Kanawha Capital Management LLC Sells 582 Shares of NIKE, Inc. $NKE

Kanawha Capital Management LLC cut its holdings in NIKE, Inc. (NYSE:NKE) by 0.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 183,976 shares of the footwear maker’s stock after selling 582 shares during the period. Kanawha Capital Management LLC’s holdings in NIKE were worth $13,070,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in NIKE by 4.6% in the first quarter. Vanguard Group Inc. now owns 113,151,080 shares of the footwear maker’s stock worth $7,182,831,000 after purchasing an additional 4,957,494 shares in the last quarter. Wellington Management Group LLP lifted its position in NIKE by 24.9% during the 1st quarter. Wellington Management Group LLP now owns 45,383,916 shares of the footwear maker’s stock worth $2,880,971,000 after acquiring an additional 9,043,180 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in NIKE by 344.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 26,698,835 shares of the footwear maker’s stock worth $1,694,842,000 after acquiring an additional 20,688,013 shares during the last quarter. Bank of New York Mellon Corp lifted its position in NIKE by 3.0% during the 1st quarter. Bank of New York Mellon Corp now owns 20,988,207 shares of the footwear maker’s stock worth $1,332,331,000 after acquiring an additional 620,214 shares during the last quarter. Finally, Flossbach Von Storch SE lifted its position in NIKE by 24.0% during the 1st quarter. Flossbach Von Storch SE now owns 10,286,619 shares of the footwear maker’s stock worth $652,995,000 after acquiring an additional 1,988,547 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors.

Insider Activity

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

NIKE Stock Up 0.9%

Shares of NKE opened at $67.46 on Friday. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $83.95. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.45 and a current ratio of 2.19. The company has a 50-day simple moving average of $73.10 and a 200-day simple moving average of $67.38. The firm has a market capitalization of $99.72 billion, a P/E ratio of 34.59, a P/E/G ratio of 2.46 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 for the quarter, topping analysts’ consensus estimates of $0.27 by $0.22. NIKE had a net margin of 6.23% and a return on equity of 21.16%. The firm had revenue of $11.72 billion for the quarter, compared to the consensus estimate of $10.96 billion. During the same quarter in the previous year, the company earned $0.70 earnings per share. The business’s revenue was up 1.0% compared to the same quarter last year. On average, equities research analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend was Tuesday, September 2nd. NIKE’s dividend payout ratio is 82.05%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on NKE shares. Cowen raised shares of NIKE from a “hold” rating to a “buy” rating in a research report on Wednesday, September 10th. Morgan Stanley set a $72.00 target price on shares of NIKE and gave the stock a “positive” rating in a research report on Wednesday, October 1st. Truist Financial reissued a “buy” rating and set a $85.00 target price on shares of NIKE in a research report on Wednesday, October 1st. 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. Finally, Needham & Company LLC reissued a “buy” rating and set a $78.00 target price on shares of NIKE in a research report on Wednesday, October 1st. Three analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, NIKE has a consensus rating of “Moderate Buy” and an average price target of $82.21.

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.