L.M. Kohn & Company Sells 1,223 Shares of NIKE, Inc. $NKE

L.M. Kohn & Company trimmed its position in shares of NIKE, Inc. (NYSE:NKE) by 15.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,481 shares of the footwear maker’s stock after selling 1,223 shares during the quarter. L.M. Kohn & Company’s holdings in NIKE were worth $460,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. Mitchell Mcleod Pugh & Williams Inc. grew its stake in NIKE by 1.0% during the second quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 14,176 shares of the footwear maker’s stock worth $1,007,000 after buying an additional 134 shares during the last quarter. Caldwell Sutter Capital Inc. increased its holdings in shares of NIKE by 6.3% in the second 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. Salomon & Ludwin LLC raised its position in NIKE by 10.1% in the 2nd quarter. Salomon & Ludwin LLC now owns 1,575 shares of the footwear maker’s stock worth $120,000 after purchasing an additional 145 shares during the last quarter. Westmount Partners LLC lifted its holdings in NIKE by 2.9% during the 2nd quarter. Westmount Partners LLC now owns 5,165 shares of the footwear maker’s stock worth $367,000 after buying an additional 146 shares in the last quarter. Finally, HB Wealth Management LLC lifted its holdings in NIKE by 0.3% during the 2nd quarter. HB Wealth Management LLC now owns 52,012 shares of the footwear maker’s stock worth $3,695,000 after buying an additional 147 shares in the last quarter. 64.25% of the stock is owned by institutional investors.

Insider Transactions at NIKE

In other 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 transaction of $6,535,902.54. Following the completion of the transaction, the chairman directly owned 744,988 shares in the company, valued at $56,566,938.84. This represents a 10.36% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 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 transaction, the executive vice president owned 29,396 shares of the company’s stock, valued at approximately $2,095,052.92. This represents a 12.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.80% of the company’s stock.

NIKE Price Performance

Shares of NKE stock opened at $67.40 on Wednesday. NIKE, Inc. has a 52-week low of $52.28 and a 52-week high of $82.44. The stock has a market cap of $99.63 billion, a PE ratio of 34.57, a PEG ratio of 2.53 and a beta of 1.29. 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 firm’s 50 day moving average price is $72.01 and its two-hundred day moving average price is $68.10.

NIKE (NYSE:NKE) last released its quarterly earnings data on Tuesday, September 30th. The footwear maker reported $0.49 EPS for the quarter, beating 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 business had revenue of $11.72 billion during the quarter, compared to analysts’ expectations of $10.96 billion. During the same quarter in the prior year, the company earned $0.70 EPS. The firm’s quarterly revenue was up 1.0% on a year-over-year basis. As a group, analysts forecast that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

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

Analyst Ratings Changes

Several research firms have issued reports on NKE. KeyCorp set a $90.00 price objective on NIKE and gave the stock an “overweight” rating in a report on Thursday, October 2nd. BTIG Research began coverage on NIKE in a research note on Tuesday, October 14th. They set a “buy” rating and a $100.00 price target on the stock. TD Cowen raised NIKE from a “hold” rating to a “buy” rating and upped their price target for the company from $62.00 to $85.00 in a research note on Wednesday, September 10th. Truist Financial reaffirmed a “buy” rating and set a $85.00 price target on shares of NIKE in a research note on Wednesday, October 1st. Finally, Sanford C. Bernstein reaffirmed a “buy” rating and set a $90.00 price target on shares of NIKE in a research note on Monday, October 13th. Three investment 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 company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average 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.