Burney Co. Sells 147 Shares of NIKE, Inc. (NYSE:NKE)

Burney Co. lessened its stake in shares of NIKE, Inc. (NYSE:NKE) by 1.4% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,053 shares of the footwear maker’s stock after selling 147 shares during the quarter. Burney Co.’s holdings in NIKE were worth $758,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. Meitav Investment House Ltd. lifted its stake in shares of NIKE by 52.3% in the second quarter. Meitav Investment House Ltd. now owns 532,980 shares of the footwear maker’s stock worth $40,261,000 after buying an additional 182,980 shares during the last quarter. Nixon Peabody Trust Co. acquired a new position in NIKE during the 2nd quarter worth $281,000. HB Wealth Management LLC boosted its holdings in NIKE by 3.1% during the second quarter. HB Wealth Management LLC now owns 75,726 shares of the footwear maker’s stock valued at $5,708,000 after acquiring an additional 2,271 shares during the period. Fort Pitt Capital Group LLC acquired a new stake in shares of NIKE in the second quarter valued at about $829,000. Finally, Kintegral Advisory LLC lifted its position in shares of NIKE by 4.5% during the 2nd quarter. Kintegral Advisory LLC now owns 65,878 shares of the footwear maker’s stock worth $4,988,000 after purchasing an additional 2,835 shares during the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

Insider Buying and Selling at NIKE

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

NIKE Stock Performance

Shares of NKE traded up $0.64 during midday trading on Thursday, reaching $83.43. The stock had a trading volume of 4,156,737 shares, compared to its average volume of 11,420,039. The company has a current ratio of 2.40, a quick ratio of 1.69 and a debt-to-equity ratio of 0.55. The firm has a 50 day simple moving average of $78.67 and a 200-day simple moving average of $89.86. The firm has a market cap of $125.93 billion, a PE ratio of 22.44, a P/E/G ratio of 1.92 and a beta of 1.01. NIKE, Inc. has a one year low of $70.75 and a one year high of $123.39.

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

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date of this dividend is Tuesday, September 3rd. NIKE’s dividend payout ratio (DPR) is presently 39.68%.

Analyst Upgrades and Downgrades

Several brokerages have commented on NKE. Raymond James reaffirmed a “market perform” rating on shares of NIKE in a research report on Friday, June 28th. Piper Sandler reaffirmed a “neutral” rating and set a $80.00 target price on shares of NIKE in a research report on Friday, August 23rd. Evercore ISI reduced their price target on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a report on Friday, June 28th. BMO Capital Markets dropped their price objective on shares of NIKE from $118.00 to $100.00 and set an “outperform” rating on the stock in a report on Friday, June 28th. Finally, Barclays cut shares of NIKE from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $109.00 to $80.00 in a research note on Friday, June 28th. Fifteen research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $95.59.

NIKE Company 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.