Prudent Man Advisors LLC Sells 261 Shares of NIKE, Inc. $NKE

Prudent Man Advisors LLC cut its holdings in shares of NIKE, Inc. (NYSE:NKE) by 3.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,101 shares of the footwear maker’s stock after selling 261 shares during the quarter. Prudent Man Advisors LLC’s holdings in NIKE were worth $504,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Spire Wealth Management lifted its position in NIKE by 4.4% during the 1st quarter. Spire Wealth Management now owns 9,872 shares of the footwear maker’s stock worth $627,000 after buying an additional 416 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich lifted its position in NIKE by 0.6% during the 1st quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,008,340 shares of the footwear maker’s stock worth $69,932,000 after buying an additional 5,601 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd bought a new stake in NIKE during the 1st quarter worth about $25,963,000. BROOKFIELD Corp ON lifted its position in NIKE by 36.2% during the 1st quarter. BROOKFIELD Corp ON now owns 658,598 shares of the footwear maker’s stock worth $41,808,000 after buying an additional 175,000 shares in the last quarter. Finally, Cadence Bank lifted its position in NIKE by 10.0% during the 1st quarter. Cadence Bank now owns 83,002 shares of the footwear maker’s stock worth $5,269,000 after buying an additional 7,574 shares in the last quarter. 64.25% of the stock is owned by institutional investors.

Insider Buying and Selling

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

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Wall Street Zen raised shares of NIKE from a “sell” rating to a “hold” rating in a report on Saturday, September 6th. 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. Morgan Stanley set a $72.00 target price on shares of NIKE and gave the company a “positive” rating in a report on Wednesday, October 1st. Stifel Nicolaus set a $68.00 target price on shares of NIKE and gave the company a “hold” rating in a report on Wednesday, October 1st. Finally, UBS Group set a $71.00 target price on shares of NIKE and gave the company a “neutral” rating in a report on Friday, September 19th. Three analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $82.21.

NIKE Stock Down 0.8%

NIKE stock opened at $69.15 on Friday. The stock has a market cap of $102.22 billion, a P/E ratio of 35.46, a P/E/G ratio of 2.55 and a beta of 1.29. 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 twelve month low of $52.28 and a twelve month high of $82.44. The company’s 50-day moving average price is $72.38 and its two-hundred day moving average price is $67.88.

NIKE (NYSE:NKE) last released its quarterly earnings results on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.22. The firm had revenue of $11.72 billion for 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 business’s revenue was up 1.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.70 EPS. As a group, analysts expect that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

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

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.