Parcion Private Wealth LLC Sells 15,664 Shares of NIKE, Inc. (NYSE:NKE)

Financial News Live · Nov 26, 2022 02:02

Parcion Private Wealth LLC lowered its stake in NIKE, Inc. (NYSE:NKE – Get Rating) by 43.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 20,410 shares of the footwear maker's stock after selling 15,664 shares during the period. Parcion Private Wealth LLC's holdings in NIKE were worth $2,227,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. LFA Lugano Financial Advisors SA increased its position in shares of NIKE by 63.3% in the second quarter. LFA Lugano Financial Advisors SA now owns 258 shares of the footwear maker's stock worth $26,000 after purchasing an additional 100 shares during the period. Antonetti Capital Management LLC grew its position in NIKE by 900.0% in the first quarter. Antonetti Capital Management LLC now owns 200 shares of the footwear maker's stock valued at $27,000 after acquiring an additional 180 shares during the last quarter. Worth Asset Management LLC bought a new position in NIKE in the first quarter valued at about $32,000. Heritage Financial Services LLC bought a new position in NIKE in the second quarter valued at about $33,000. Finally, Mark Sheptoff Financial Planning LLC grew its position in NIKE by 6,250.0% in the first quarter. Mark Sheptoff Financial Planning LLC now owns 254 shares of the footwear maker's stock valued at $34,000 after acquiring an additional 250 shares during the last quarter. Institutional investors own 64.19% of the company's stock.

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NIKE Trading Down 0.7 %

NKE traded down $0.71 during trading on Friday, hitting $105.94. The company's stock had a trading volume of 47,237 shares, compared to its average volume of 7,163,797. NIKE, Inc. has a twelve month low of $82.22 and a twelve month high of $173.37. The company has a quick ratio of 1.76, a current ratio of 2.64 and a debt-to-equity ratio of 0.56. The stock's fifty day moving average price is $95.19 and its 200-day moving average price is $105.12. The firm has a market capitalization of $166.17 billion, a P/E ratio of 30.01, a PEG ratio of 3.54 and a beta of 1.12.

NIKE (NYSE:NKE – Get Rating) last issued its quarterly earnings results on Thursday, September 29th. The footwear maker reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.01. NIKE had a return on equity of 37.08% and a net margin of 11.96%. The firm had revenue of $12.70 billion for the quarter, compared to analyst estimates of $12.28 billion. During the same period in the previous year, the firm earned $1.16 earnings per share. The company's revenue was up 3.7% compared to the same quarter last year. Analysts anticipate that NIKE, Inc. will post 2.97 EPS for the current year.

NIKE Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 28th. Shareholders of record on Monday, December 5th will be paid a $0.34 dividend. The ex-dividend date is Friday, December 2nd. This is a positive change from NIKE's previous quarterly dividend of $0.31. This represents a $1.36 annualized dividend and a yield of 1.28%. NIKE's payout ratio is 34.56%.

Insider Buying and Selling at NIKE

In other news, EVP Monique S. Matheson sold 5,882 shares of the company's stock in a transaction that occurred on Monday, October 31st. The stock was sold at an average price of $93.55, for a total transaction of $550,261.10. Following the transaction, the executive vice president now directly owns 60,213 shares of the company's stock, valued at $5,632,926.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.40% of the company's stock.

Wall Street Analysts Forecast Growth

NKE has been the topic of a number of recent analyst reports. Erste Group Bank cut NIKE from a "buy" rating to a "hold" rating in a research report on Wednesday, October 5th. Barclays decreased their target price on NIKE from $110.00 to $83.00 and set an "equal weight" rating on the stock in a research report on Monday, October 3rd. Cowen lifted their target price on NIKE from $114.00 to $118.00 in a research report on Tuesday. Raymond James started coverage on NIKE in a report on Wednesday, October 12th. They set an "outperform" rating and a $99.00 price target on the stock. Finally, Piper Sandler reduced their price target on NIKE from $115.00 to $95.00 and set a "neutral" rating on the stock in a report on Friday, September 30th. Thirteen equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat.com, NIKE has an average rating of "Moderate Buy" and a consensus target price of $115.25.

NIKE Company Profile

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NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells men's, women's, and kids athletic footwear, apparel, equipment, and accessories 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.