L. Roy Papp & Associates LLP Reduces Position in NIKE, Inc. (NYSE:NKE)

L. Roy Papp & Associates LLP decreased its stake in shares of NIKE, Inc. (NYSE:NKE) by 2.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,900 shares of the footwear maker’s stock after selling 1,223 shares during the quarter. L. Roy Papp & Associates LLP’s holdings in NIKE were worth $5,295,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NKE. Vicus Capital bought a new stake in NIKE during the 1st quarter valued at about $393,000. Annapolis Financial Services LLC lifted its holdings in NIKE by 440.0% during the 1st quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock valued at $25,000 after buying an additional 220 shares in the last quarter. Cornerstone Wealth Group LLC bought a new stake in NIKE during the 1st quarter valued at about $241,000. LVW Advisors LLC raised its holdings in shares of NIKE by 19.4% in the 1st quarter. LVW Advisors LLC now owns 3,117 shares of the footwear maker’s stock valued at $293,000 after purchasing an additional 507 shares in the last quarter. Finally, Oak Asset Management LLC raised its holdings in shares of NIKE by 0.7% in the 1st quarter. Oak Asset Management LLC now owns 20,686 shares of the footwear maker’s stock valued at $1,944,000 after purchasing an additional 150 shares in the last quarter. Institutional investors own 64.25% of the company’s stock.

NIKE Stock Performance

NKE stock traded down $0.19 during midday trading on Friday, hitting $78.85. 9,385,379 shares of the stock traded hands, compared to its average volume of 11,607,228. The firm has a market cap of $118.22 billion, a P/E ratio of 22.59, a PEG ratio of 1.95 and a beta of 1.02. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58. The stock’s fifty day simple moving average is $82.71 and its 200-day simple moving average is $84.94. NIKE, Inc. has a 1-year low of $70.75 and a 1-year high of $123.39.

NIKE (NYSE:NKE) last released its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, beating the consensus estimate of $0.52 by $0.18. The company had revenue of $11.59 billion for the quarter, compared to analyst estimates of $11.64 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The firm’s revenue was down 10.4% on a year-over-year basis. During the same quarter last year, the business earned $0.94 earnings per share. On average, analysts expect that NIKE, Inc. will post 2.78 earnings per share for the current year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd were issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 1.88%. The ex-dividend date was Tuesday, September 3rd. NIKE’s payout ratio is 42.41%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Daiwa America lowered shares of NIKE from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. TD Cowen boosted their price objective on shares of NIKE from $71.00 to $78.00 and gave the stock a “hold” rating in a research note on Wednesday, October 2nd. Truist Financial upgraded shares of NIKE from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $83.00 to $97.00 in a research note on Thursday, October 10th. Williams Trading upgraded shares of NIKE from a “sell” rating to a “buy” rating and boosted their price objective for the stock from $67.00 to $93.00 in a research note on Friday, August 16th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of NIKE from $80.00 to $77.00 and set a “neutral” rating for the company in a research note on Wednesday, October 2nd. Fourteen analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $96.56.

Insider Buying and Selling at NIKE

In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.10% of the company’s stock.

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.