Park Place Capital Corp Lowers Stake in NIKE, Inc. (NYSE:NKE)

Park Place Capital Corp lowered its stake in shares of NIKE, Inc. (NYSE:NKE) by 49.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,779 shares of the footwear maker’s stock after selling 1,762 shares during the period. Park Place Capital Corp’s holdings in NIKE were worth $134,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of NKE. Annapolis Financial Services LLC raised its stake in NIKE by 440.0% in the 1st quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock worth $25,000 after acquiring an additional 220 shares during the last quarter. True Wealth Design LLC raised its stake in NIKE by 106.4% in the 4th quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock worth $32,000 after acquiring an additional 150 shares during the last quarter. Frank Rimerman Advisors LLC purchased a new position in NIKE in the 4th quarter worth $33,000. Core Wealth Advisors Inc. raised its stake in NIKE by 408.5% in the 4th quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock worth $33,000 after acquiring an additional 241 shares during the last quarter. Finally, Gold Investment Management Ltd. purchased a new position in NIKE in the 4th quarter worth $36,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Trading Down 3.3 %

Shares of NKE stock traded down $2.42 on Monday, reaching $71.59. 7,866,361 shares of the stock were exchanged, compared to its average volume of 11,425,702. The stock has a market cap of $108.06 billion, a P/E ratio of 19.33, a price-to-earnings-growth ratio of 1.92 and a beta of 1.01. The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.55. The firm has a 50 day moving average of $83.71 and a two-hundred day moving average of $92.57. NIKE, Inc. has a 1-year low of $70.91 and a 1-year high of $123.39.

NIKE (NYSE:NKE) last released its quarterly earnings data 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 the consensus estimate of $12.86 billion. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The business’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.66 EPS. On average, research analysts anticipate that NIKE, Inc. will post 3.12 EPS for the current year.

NIKE Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd will be issued a $0.37 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $1.48 annualized dividend and a yield of 2.07%. NIKE’s dividend payout ratio is currently 39.68%.

Insider Activity at NIKE

In related news, VP Johanna Nielsen sold 282 shares of the stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $93.64, for a total value of $26,406.48. Following the completion of the sale, the vice president now directly owns 730 shares in the company, valued at approximately $68,357.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, VP Johanna Nielsen sold 282 shares of the firm’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $93.64, for a total transaction of $26,406.48. Following the completion of the sale, the vice president now directly owns 730 shares in the company, valued at $68,357.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Monique S. Matheson sold 45,000 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $94.16, for a total value of $4,237,200.00. Following the sale, the executive vice president now owns 44,997 shares of the company’s stock, valued at $4,236,917.52. The disclosure for this sale can be found here. In the last three months, insiders sold 323,660 shares of company stock worth $27,973,033. Corporate insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on NKE. BMO Capital Markets cut their price target on NIKE from $118.00 to $100.00 and set an “outperform” rating on the stock in a research report on Friday, June 28th. Robert W. Baird cut their price target on NIKE from $125.00 to $100.00 and set an “outperform” rating on the stock in a research report on Friday, June 28th. Telsey Advisory Group dropped their target price on NIKE from $115.00 to $100.00 and set an “outperform” rating on the stock in a research report on Friday, June 28th. Truist Financial dropped their target price on NIKE from $99.00 to $81.00 and set a “hold” rating on the stock in a research report on Friday, June 28th. Finally, Wedbush dropped their target price on NIKE from $115.00 to $97.00 and set an “outperform” rating on the stock in a research report on Friday, June 28th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target 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.