Kesler Norman & Wride LLC Sells 992 Shares of NIKE, Inc. (NYSE:NKE)

Kesler Norman & Wride LLC reduced its position in shares of NIKE, Inc. (NYSE:NKE) by 6.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,536 shares of the footwear maker’s stock after selling 992 shares during the quarter. Kesler Norman & Wride LLC’s holdings in NIKE were worth $1,460,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Piscataqua Savings Bank raised its position in NIKE by 2.1% during the fourth quarter. Piscataqua Savings Bank now owns 4,861 shares of the footwear maker’s stock worth $528,000 after acquiring an additional 100 shares in the last quarter. Physicians Financial Services Inc. raised its position in NIKE by 0.6% during the fourth quarter. Physicians Financial Services Inc. now owns 16,077 shares of the footwear maker’s stock worth $1,745,000 after acquiring an additional 100 shares in the last quarter. ZWJ Investment Counsel Inc. raised its position in NIKE by 4.0% during the fourth quarter. ZWJ Investment Counsel Inc. now owns 2,599 shares of the footwear maker’s stock worth $282,000 after acquiring an additional 100 shares in the last quarter. Kornitzer Capital Management Inc. KS raised its position in NIKE by 0.4% during the fourth quarter. Kornitzer Capital Management Inc. KS now owns 25,568 shares of the footwear maker’s stock worth $2,776,000 after acquiring an additional 100 shares in the last quarter. Finally, Claro Advisors LLC raised its position in NIKE by 0.8% during the fourth quarter. Claro Advisors LLC now owns 12,227 shares of the footwear maker’s stock worth $1,327,000 after acquiring an additional 101 shares in the last quarter. 64.25% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on NKE shares. Telsey Advisory Group dropped their price target on shares of NIKE from $115.00 to $100.00 and set an “outperform” rating on the stock in a research report on Friday, June 28th. Piper Sandler dropped their price objective on shares of NIKE from $107.00 to $98.00 and set a “neutral” rating on the stock in a research report on Friday, March 22nd. HSBC dropped their price objective on shares of NIKE from $100.00 to $90.00 and set a “hold” rating on the stock in a research report on Friday, June 28th. Barclays lowered shares of NIKE from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $109.00 to $80.00 in a research report on Friday, June 28th. Finally, Williams Trading reissued a “sell” rating and issued a $85.00 price objective (down from $92.00) on shares of NIKE in a research report on Monday, March 18th. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $97.19.

Insider Activity

In related news, Director Robert Holmes Swan purchased 2,941 shares of NIKE stock in a transaction dated Friday, June 28th. The shares were bought at an average cost of $77.02 per share, for a total transaction of $226,515.82. Following the purchase, the director now owns 20,946 shares in the company, valued at approximately $1,613,260.92. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Chairman Mark G. Parker sold 168,378 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chairman now 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 SEC, which can be accessed through this link. Also, Director Robert Holmes Swan acquired 2,941 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The stock was acquired at an average price of $77.02 per share, with a total value of $226,515.82. Following the acquisition, the director now owns 20,946 shares in the company, valued at $1,613,260.92. The disclosure for this purchase can be found here. In the last three months, insiders have sold 213,660 shares of company stock worth $19,946,333. Corporate insiders own 0.50% of the company’s stock.

NIKE Price Performance

Shares of NKE traded down $0.80 during mid-day trading on Thursday, reaching $75.24. The company had a trading volume of 15,952,008 shares, compared to its average volume of 17,969,314. The company’s 50 day simple moving average is $92.19 and its 200 day simple moving average is $98.06. NIKE, Inc. has a 1-year low of $74.29 and a 1-year high of $123.39. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.69 and a current ratio of 2.40. The company has a market capitalization of $113.56 billion, a price-to-earnings ratio of 20.17, a P/E/G ratio of 1.85 and a beta of 1.01.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The company had revenue of $12.60 billion for the quarter, compared to the consensus estimate of $12.86 billion. During the same period last year, the company posted $0.66 EPS. The firm’s quarterly revenue was down 1.6% compared to the same quarter last year. Analysts expect that NIKE, Inc. will post 3.32 EPS for the current year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Monday, June 3rd were paid a $0.37 dividend. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.97%. NIKE’s payout ratio is currently 39.68%.

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.