Terra Alpha Investments LLC Reduces Holdings in NIKE, Inc. $NKE

Terra Alpha Investments LLC decreased its position in shares of NIKE, Inc. (NYSE:NKE) by 1.5% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 25,215 shares of the footwear maker’s stock after selling 382 shares during the quarter. NIKE makes up approximately 1.9% of Terra Alpha Investments LLC’s portfolio, making the stock its 22nd largest holding. Terra Alpha Investments LLC’s holdings in NIKE were worth $1,791,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Stone House Investment Management LLC purchased a new position in shares of NIKE during the first quarter worth about $25,000. Mascoma Wealth Management LLC purchased a new position in shares of NIKE during the second quarter worth about $26,000. Halbert Hargrove Global Advisors LLC grew its holdings in shares of NIKE by 952.6% during the second quarter. Halbert Hargrove Global Advisors LLC now owns 400 shares of the footwear maker’s stock worth $28,000 after purchasing an additional 362 shares during the last quarter. Saudi Central Bank purchased a new stake in shares of NIKE in the first quarter valued at about $30,000. Finally, Matrix Trust Co raised its holdings in shares of 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 last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Insider Transactions at NIKE

In other NIKE news, EVP Treasure Heinle sold 4,300 shares of the stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $71.27, for a total value 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 approximately $2,095,052.92. This trade represents a 12.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 transaction of $6,535,902.54. Following the completion of the transaction, the chairman directly owned 744,988 shares of the company’s stock, valued at approximately $56,566,938.84. This trade represents a 10.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.80% of the company’s stock.

NIKE Trading Up 1.1%

NYSE NKE opened at $68.39 on Wednesday. The stock has a market capitalization of $101.09 billion, a P/E ratio of 35.07, a P/E/G ratio of 2.49 and a beta of 1.29. NIKE, Inc. has a 52-week low of $52.28 and a 52-week high of $82.44. The firm has a 50-day moving average price of $72.84 and a 200 day moving average price of $67.56. 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 (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, topping the consensus estimate of $0.27 by $0.22. The firm had revenue of $11.72 billion during the quarter, compared to analysts’ expectations of $10.96 billion. NIKE had a net margin of 6.23% and a return on equity of 21.16%. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.70 earnings per share. Equities research analysts expect that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd were issued a $0.40 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.3%. NIKE’s dividend payout ratio (DPR) is 82.05%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $75.00 target price on shares of NIKE in a report on Wednesday, October 1st. Cowen raised shares of NIKE from a “hold” rating to a “buy” rating in a report on Wednesday, September 10th. Truist Financial reaffirmed a “buy” rating and issued a $85.00 target price on shares of NIKE in a report on Wednesday, October 1st. TD Cowen raised shares of NIKE from a “hold” rating to a “buy” rating and upped their target price for the company from $62.00 to $85.00 in a report on Wednesday, September 10th. Finally, BTIG Research assumed coverage on shares of NIKE in a report on Tuesday, October 14th. They issued a “buy” rating and a $100.00 target price for the company. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $82.21.

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.