Cypress Asset Management Inc. TX Sells 2,706 Shares of NIKE, Inc. (NYSE:NKE)

Cypress Asset Management Inc. TX decreased its position in NIKE, Inc. (NYSE:NKE) by 15.5% in the 1st quarter, HoldingsChannel reports. The fund owned 14,802 shares of the footwear maker’s stock after selling 2,706 shares during the period. Cypress Asset Management Inc. TX’s holdings in NIKE were worth $1,391,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in NIKE by 0.5% during the first quarter. Vanguard Group Inc. now owns 110,044,821 shares of the footwear maker’s stock valued at $10,342,012,000 after purchasing an additional 501,792 shares in the last quarter. Capital International Investors boosted its stake in NIKE by 34.9% in the 4th quarter. Capital International Investors now owns 27,609,613 shares of the footwear maker’s stock valued at $2,997,628,000 after buying an additional 7,143,775 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in NIKE by 87.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 17,135,431 shares of the footwear maker’s stock valued at $1,860,395,000 after buying an additional 7,996,434 shares in the last quarter. Norges Bank bought a new stake in NIKE during the fourth quarter worth about $1,315,097,000. Finally, Fisher Asset Management LLC increased its holdings in shares of NIKE by 2.3% during the fourth quarter. Fisher Asset Management LLC now owns 9,887,769 shares of the footwear maker’s stock worth $1,073,515,000 after buying an additional 219,091 shares in the last quarter. Institutional investors own 64.25% of the company’s stock.

NIKE Stock Up 0.2 %

Shares of NKE stock traded up $0.16 during trading hours on Friday, hitting $74.01. 11,526,628 shares of the company were exchanged, compared to its average volume of 15,949,355. The company has a market capitalization of $111.71 billion, a PE ratio of 19.84, a PEG ratio of 1.92 and a beta of 1.01. NIKE, Inc. has a 52 week low of $70.91 and a 52 week high of $123.39. The business has a 50 day moving average of $83.71 and a two-hundred day moving average of $92.63. The company has a current ratio of 2.40, a quick ratio of 1.69 and a debt-to-equity ratio of 0.55.

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

NIKE Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders 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 yield of 2.00%. The ex-dividend date of this dividend is Tuesday, September 3rd. NIKE’s dividend payout ratio (DPR) is currently 39.68%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on NKE shares. HSBC decreased their price target on NIKE from $100.00 to $90.00 and set a “hold” rating on the stock in a research report on Friday, June 28th. Truist Financial decreased their price objective 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. StockNews.com downgraded shares of NIKE from a “buy” rating to a “hold” rating in a research note on Friday, June 21st. Telsey Advisory Group decreased their price target on shares of NIKE from $115.00 to $100.00 and set an “outperform” rating on the stock in a research note on Friday, June 28th. Finally, Stifel Nicolaus restated a “hold” rating and issued a $88.00 price objective (down previously from $117.00) on shares of NIKE in a research report on Friday, June 28th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $96.30.

Insider Activity

In other NIKE news, Chairman Mark G. Parker sold 168,378 shares of NIKE stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $93.14, for a total value of $15,682,726.92. Following the sale, the chairman now directly owns 1,102,090 shares in the company, valued at approximately $102,648,662.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other NIKE news, Director Robert Holmes Swan acquired 2,941 shares of the company’s stock in a transaction on Friday, June 28th. The shares were purchased at an average price of $77.02 per share, for a total transaction of $226,515.82. Following the completion of the purchase, the director now directly owns 20,946 shares of the company’s stock, valued at $1,613,260.92. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Chairman Mark G. Parker sold 168,378 shares of the firm’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $93.14, for a total value of $15,682,726.92. Following the sale, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at approximately $102,648,662.60. The disclosure for this sale can be found here. Insiders have sold 323,660 shares of company stock worth $27,973,033 over the last ninety days. Insiders own 0.50% of the company’s stock.

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.