NIKE, Inc. (NYSE:NKE) Shares Sold by Etesian Wealth Advisors Inc.

Etesian Wealth Advisors Inc. cut its stake in NIKE, Inc. (NYSE:NKE) by 17.8% in the third quarter, Holdings Channel reports. The fund owned 11,968 shares of the footwear maker’s stock after selling 2,586 shares during the period. Etesian Wealth Advisors Inc.’s holdings in NIKE were worth $1,058,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its holdings in NIKE by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 110,044,821 shares of the footwear maker’s stock valued at $10,342,012,000 after acquiring an additional 501,792 shares during the period. Legal & General Group Plc grew its stake in shares of NIKE by 5.5% during the second quarter. Legal & General Group Plc now owns 11,049,294 shares of the footwear maker’s stock worth $832,785,000 after purchasing an additional 571,544 shares in the last quarter. Jennison Associates LLC boosted its stake in NIKE by 45.6% in the first quarter. Jennison Associates LLC now owns 8,859,580 shares of the footwear maker’s stock valued at $832,623,000 after acquiring an additional 2,775,510 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in NIKE by 0.9% in the second quarter. Massachusetts Financial Services Co. MA now owns 6,025,616 shares of the footwear maker’s stock valued at $454,151,000 after acquiring an additional 52,500 shares in the last quarter. Finally, Longview Partners Guernsey LTD purchased a new stake in shares of NIKE in the first quarter valued at about $533,533,000. 64.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on NKE shares. Wells Fargo & Company increased their price target on shares of NIKE from $86.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. Oppenheimer restated an “outperform” rating and set a $120.00 target price on shares of NIKE in a research report on Friday, June 28th. Truist Financial upgraded shares of NIKE from a “hold” rating to a “buy” rating and raised their target price for the stock from $83.00 to $97.00 in a research report on Thursday, October 10th. Barclays decreased their price target on shares of NIKE from $84.00 to $81.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 2nd. Finally, Piper Sandler reissued a “neutral” rating and issued a $80.00 target price on shares of NIKE in a research note on Friday, September 20th. Fourteen investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $96.56.

NIKE Price Performance

Shares of NKE stock traded down $0.48 on Friday, reaching $82.92. The company had a trading volume of 7,214,787 shares, compared to its average volume of 11,701,926. The stock has a market capitalization of $125.16 billion, a PE ratio of 22.23, a price-to-earnings-growth ratio of 1.96 and a beta of 1.02. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a one year low of $70.75 and a one year high of $123.39. The business’s 50-day moving average is $82.64 and its 200 day moving average is $85.32.

NIKE (NYSE:NKE) last released its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.18. The business had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $11.64 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The company’s revenue for the quarter was down 10.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.94 EPS. Equities research analysts forecast that NIKE, Inc. will post 2.8 EPS for the current fiscal year.

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd were issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date of this dividend was Tuesday, September 3rd. NIKE’s dividend payout ratio is currently 39.68%.

Insider Buying and Selling

In other news, Chairman Mark G. Parker sold 52,487 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the completion of the sale, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at $80,435,628. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.50% of the stock is owned by company insiders.

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.