Amalgamated Bank Lowers Stock Holdings in NIKE, Inc. (NYSE:NKE)

Amalgamated Bank trimmed its position in NIKE, Inc. (NYSE:NKE) by 0.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 254,144 shares of the footwear maker’s stock after selling 2,362 shares during the quarter. Amalgamated Bank’s holdings in NIKE were worth $19,155,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Annapolis Financial Services LLC raised its stake in NIKE by 440.0% in the first quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock valued at $25,000 after purchasing an additional 220 shares in the last quarter. True Wealth Design LLC grew its position in NIKE by 106.4% during the fourth quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock valued at $32,000 after acquiring an additional 150 shares during the last quarter. Frank Rimerman Advisors LLC bought a new position in shares of NIKE in the fourth quarter worth approximately $33,000. Core Wealth Advisors Inc. grew its holdings in shares of NIKE by 408.5% in the fourth quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock worth $33,000 after purchasing an additional 241 shares during the last quarter. Finally, Gold Investment Management Ltd. bought a new position in shares of NIKE in the fourth quarter worth approximately $36,000. 64.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on NKE. The Goldman Sachs Group cut their target price on shares of NIKE from $118.00 to $105.00 and set a “buy” rating on the stock in a report on Friday, June 28th. Piper Sandler restated a “neutral” rating and issued a $80.00 target price on shares of NIKE in a report on Friday, August 23rd. Guggenheim dropped their price target on NIKE from $130.00 to $115.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Wells Fargo & Company dropped their price target on NIKE from $115.00 to $92.00 and set an “overweight” rating for the company in a research note on Friday, June 28th. Finally, Bank of America dropped their price target on NIKE from $113.00 to $104.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Fifteen research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $95.59.

Insider Buying and Selling

In related news, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $72.97, for a total value of $8,026,700.00. Following the completion of the sale, the chairman now directly owns 1,102,090 shares in the company, valued at approximately $80,419,507.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the business’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the completion of the sale, the chairman now directly owns 1,102,090 shares in the company, valued at approximately $80,419,507.30. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Robert Holmes Swan purchased 2,941 shares of the business’s stock in a transaction on Friday, June 28th. The shares were purchased at an average price of $77.02 per share, with a total value of $226,515.82. Following the completion of the purchase, 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. 0.50% of the stock is owned by corporate insiders.

NIKE Price Performance

NKE opened at $80.64 on Wednesday. NIKE, Inc. has a 1 year low of $70.75 and a 1 year high of $123.39. The stock has a 50-day moving average price of $77.52 and a 200-day moving average price of $87.32. The firm has a market cap of $121.71 billion, a PE ratio of 21.62, a P/E/G ratio of 2.08 and a beta of 1.02. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.40 and a quick ratio of 1.69.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, topping the consensus estimate of $0.85 by $0.16. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The company had revenue of $12.60 billion during the quarter, compared to the consensus estimate of $12.86 billion. During the same period last year, the company earned $0.66 EPS. NIKE’s revenue for the quarter was down 1.6% on a year-over-year basis. Sell-side analysts predict that NIKE, Inc. will post 3.06 earnings per share for the current fiscal year.

NIKE Announces Dividend

The firm also recently disclosed 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 of this dividend is Tuesday, September 3rd. This represents a $1.48 annualized dividend and a yield of 1.84%. NIKE’s payout ratio is 39.68%.

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.