YHB Investment Advisors Inc. Lowers Stock Position in NIKE, Inc. (NYSE:NKE)

YHB Investment Advisors Inc. reduced its stake in NIKE, Inc. (NYSE:NKE) by 40.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,438 shares of the footwear maker’s stock after selling 30,231 shares during the quarter. YHB Investment Advisors Inc.’s holdings in NIKE were worth $3,349,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of NKE. Chilton Capital Management LLC raised its stake in shares of NIKE by 11.3% during the second quarter. Chilton Capital Management LLC now owns 1,671 shares of the footwear maker’s stock worth $126,000 after acquiring an additional 170 shares in the last quarter. Klingenstein Fields & Co. LP raised its stake in shares of NIKE by 3.1% during the second quarter. Klingenstein Fields & Co. LP now owns 177,642 shares of the footwear maker’s stock worth $13,389,000 after acquiring an additional 5,354 shares in the last quarter. Verus Capital Partners LLC raised its stake in shares of NIKE by 24.6% during the second quarter. Verus Capital Partners LLC now owns 4,155 shares of the footwear maker’s stock worth $313,000 after acquiring an additional 820 shares in the last quarter. Natixis Advisors LLC raised its stake in shares of NIKE by 31.7% during the second quarter. Natixis Advisors LLC now owns 973,916 shares of the footwear maker’s stock worth $73,404,000 after acquiring an additional 234,688 shares in the last quarter. Finally, Waterfront Wealth Inc. increased its stake in shares of NIKE by 3.4% in the second quarter. Waterfront Wealth Inc. now owns 10,447 shares of the footwear maker’s stock worth $787,000 after buying an additional 341 shares during the period. 64.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NKE has been the topic of several analyst reports. Royal Bank of Canada decreased their target price on shares of NIKE from $100.00 to $75.00 and set a “sector perform” rating on the stock in a research note on Tuesday, July 2nd. BMO Capital Markets decreased their target price on shares of NIKE from $118.00 to $100.00 and set an “outperform” rating on the stock in a research note on Friday, June 28th. Guggenheim decreased their target price on shares of NIKE from $130.00 to $115.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. Truist Financial cut their price target on shares of NIKE from $99.00 to $81.00 and set a “hold” rating on the stock in a report on Friday, June 28th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $83.00 price target (down previously from $116.00) on shares of NIKE in a report on Friday, June 28th. Fifteen research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $95.59.

NIKE Price Performance

NKE opened at $83.32 on Tuesday. The stock has a 50-day moving average price of $77.63 and a 200-day moving average price of $89.21. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.40 and a quick ratio of 1.69. The firm has a market cap of $125.76 billion, a PE ratio of 22.34, a P/E/G ratio of 2.19 and a beta of 1.01. NIKE, Inc. has a 1 year low of $70.75 and a 1 year high of $123.39.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.16. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The firm had revenue of $12.60 billion during the quarter, compared to analyst estimates of $12.86 billion. During the same quarter in the previous year, the firm earned $0.66 EPS. NIKE’s quarterly revenue was down 1.6% compared to the same quarter last year. Sell-side analysts predict that NIKE, Inc. will post 3.1 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd will be given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date is Tuesday, September 3rd. NIKE’s dividend payout ratio (DPR) is 39.68%.

Insiders Place Their Bets

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

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.