NIKE, Inc. (NYSE:NKE) Shares Sold by Alpha Cubed Investments LLC

Alpha Cubed Investments LLC decreased its stake in NIKE, Inc. (NYSE:NKE) by 16.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,761 shares of the footwear maker’s stock after selling 1,328 shares during the period. Alpha Cubed Investments LLC’s holdings in NIKE were worth $510,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of NKE. LVW Advisors LLC raised its stake in NIKE by 31.2% during the second quarter. LVW Advisors LLC now owns 4,090 shares of the footwear maker’s stock valued at $308,000 after buying an additional 973 shares in the last quarter. Strong Tower Advisory Services raised its stake in NIKE by 23.5% during the second quarter. Strong Tower Advisory Services now owns 15,211 shares of the footwear maker’s stock valued at $1,146,000 after buying an additional 2,898 shares in the last quarter. Walter & Keenan Wealth Management LLC IN ADV raised its stake in NIKE by 6.3% during the second quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 4,555 shares of the footwear maker’s stock valued at $343,000 after buying an additional 268 shares in the last quarter. Chatham Capital Group Inc. raised its stake in NIKE by 2.0% during the second quarter. Chatham Capital Group Inc. now owns 32,719 shares of the footwear maker’s stock valued at $2,466,000 after buying an additional 654 shares in the last quarter. Finally, D.B. Root & Company LLC raised its stake in NIKE by 16.0% during the second quarter. D.B. Root & Company LLC now owns 14,581 shares of the footwear maker’s stock valued at $1,099,000 after buying an additional 2,006 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Stock Up 4.8 %

Shares of NYSE NKE traded up $3.58 during trading on Tuesday, hitting $78.22. 7,157,310 shares of the company traded hands, compared to its average volume of 11,361,515. The business’s fifty day moving average is $81.34 and its 200 day moving average is $91.40. NIKE, Inc. has a fifty-two week low of $70.75 and a fifty-two week high of $123.39. The firm has a market capitalization of $118.06 billion, a price-to-earnings ratio of 20.91, a P/E/G ratio of 1.92 and a beta of 1.01. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.69 and a current ratio of 2.40.

NIKE (NYSE:NKE) last posted its earnings results on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, topping the consensus estimate of $0.85 by $0.16. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The company had revenue of $12.60 billion during the quarter, compared to the consensus estimate of $12.86 billion. During the same period in the previous year, the firm posted $0.66 earnings per share. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. Equities research analysts predict that NIKE, Inc. will post 3.12 earnings per share for the current fiscal year.

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date of this dividend is Tuesday, September 3rd. NIKE’s dividend payout ratio is currently 39.68%.

Insider Activity

In other NIKE news, Director Robert Holmes Swan purchased 2,941 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The shares were bought at an average cost of $77.02 per share, for a total transaction of $226,515.82. Following the purchase, the director now owns 20,946 shares of the company’s stock, valued at approximately $1,613,260.92. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Chairman Mark G. Parker sold 110,000 shares of the stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $72.97, for a total value of $8,026,700.00. Following the transaction, the chairman now owns 1,102,090 shares of the company’s stock, valued at approximately $80,419,507.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robert Holmes Swan purchased 2,941 shares of the firm’s stock in a transaction dated Friday, June 28th. The stock was bought at an average cost of $77.02 per share, for a total transaction of $226,515.82. Following the acquisition, the director now directly owns 20,946 shares in the company, valued at $1,613,260.92. The disclosure for this purchase can be found here. Insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on NKE shares. Truist Financial cut their price objective on NIKE from $99.00 to $81.00 and set a “hold” rating on the stock in a research note on Friday, June 28th. The Goldman Sachs Group dropped their price target on NIKE from $118.00 to $105.00 and set a “buy” rating on the stock in a research report on Friday, June 28th. Jefferies Financial Group lowered their target price on NIKE from $90.00 to $80.00 in a research report on Friday, July 12th. Morgan Stanley restated an “equal weight” rating and issued a $79.00 target price (down from $114.00) on shares of NIKE in a research report on Friday, June 28th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $83.00 price target (down from $116.00) on shares of NIKE in a research note on Friday, June 28th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $96.30.

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.