NIKE, Inc. (NYSE:NKE) Shares Sold by Telos Capital Management Inc.

22 Oct 2024, 09:52 by Teresa Graham · The Cerbat Gem

Telos Capital Management Inc. trimmed its position in NIKE, Inc. (NYSE:NKE – Free Report) by 2.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 53,368 shares of the footwear maker’s stock after selling 1,249 shares during the period. Telos Capital Management Inc.’s holdings in NIKE were worth $4,718,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. grew its holdings in NIKE by 86.0% during the first quarter. Advisors Asset Management Inc. now owns 20,957 shares of the footwear maker’s stock worth $1,970,000 after acquiring an additional 9,689 shares during the period. FORA Capital LLC acquired a new stake in shares of NIKE during the 1st quarter valued at $3,412,000. Cetera Advisors LLC lifted its position in shares of NIKE by 85.5% during the 1st quarter. Cetera Advisors LLC now owns 88,299 shares of the footwear maker’s stock valued at $8,298,000 after acquiring an additional 40,704 shares during the last quarter. Koshinski Asset Management Inc. bought a new stake in shares of NIKE during the 1st quarter worth $713,000. Finally, New Mexico Educational Retirement Board grew its holdings in shares of NIKE by 15.7% in the 1st quarter. New Mexico Educational Retirement Board now owns 74,248 shares of the footwear maker’s stock worth $6,978,000 after acquiring an additional 10,100 shares during the last quarter. 64.25% of the stock is owned by institutional investors.

NIKE Stock Performance

NKE opened at $81.49 on Tuesday. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57. The stock’s 50 day moving average price is $82.77 and its two-hundred day moving average price is $85.19. The firm has a market capitalization of $123.00 billion, a P/E ratio of 21.85, a price-to-earnings-growth ratio of 1.96 and a beta of 1.02. NIKE, Inc. has a 12-month low of $70.75 and a 12-month high of $123.39.

NIKE (NYSE:NKE – Get Free Report) last posted its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.18. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The company had revenue of $11.59 billion during the quarter, compared to analysts’ expectations of $11.64 billion. During the same period in the prior year, the business earned $0.94 earnings per share. NIKE’s revenue for the quarter was down 10.4% compared to the same quarter last year. On average, equities analysts forecast that NIKE, Inc. will post 2.8 earnings per share for the current year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd were given a $0.37 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $1.48 annualized dividend and a yield of 1.82%. NIKE’s dividend payout ratio is 39.68%.

Analysts Set New Price Targets

Several research firms have recently weighed in on NKE. Citigroup dropped their target price on shares of NIKE from $115.00 to $102.00 and set a “buy” rating on the stock in a research report on Friday, June 28th. UBS Group lifted their price objective on shares of NIKE from $78.00 to $82.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. BMO Capital Markets reduced their target price on NIKE from $118.00 to $100.00 and set an “outperform” rating for the company in a report on Friday, June 28th. Deutsche Bank Aktiengesellschaft decreased their price objective on NIKE from $95.00 to $92.00 and set a “buy” rating for the company in a research report on Wednesday, October 2nd. Finally, Williams Trading upgraded shares of NIKE from a “sell” rating to a “buy” rating and increased their target price for the stock from $67.00 to $93.00 in a research report on Friday, August 16th. Fourteen research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $96.56.

Read Our Latest Stock Analysis on NIKE

Insider Transactions at NIKE

In related news, Chairman Mark G. Parker sold 52,487 shares of the stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total value of $4,093,986.00. Following the completion of the sale, the chairman now owns 1,031,226 shares in the company, valued at approximately $80,435,628. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.50% of the company’s stock.

NIKE Company Profile

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