Geneos Wealth Management Inc. Sells 7,179 Shares of NIKE, Inc. (NYSE:NKE)

Posted by Defense World Staff on Jul 10th, 2023

Geneos Wealth Management Inc. lessened its position in NIKE, Inc. (NYSE:NKE – Free Report) by 21.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 25,794 shares of the footwear maker’s stock after selling 7,179 shares during the period. Geneos Wealth Management Inc.’s holdings in NIKE were worth $3,163,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Accel Wealth Management lifted its position in NIKE by 80.6% during the fourth quarter. Accel Wealth Management now owns 224 shares of the footwear maker’s stock valued at $26,000 after purchasing an additional 100 shares during the period. Legend Financial Advisors Inc. lifted its position in NIKE by 164.8% during the fourth quarter. Legend Financial Advisors Inc. now owns 241 shares of the footwear maker’s stock valued at $28,000 after purchasing an additional 150 shares during the period. Financial Freedom LLC bought a new position in NIKE during the fourth quarter valued at approximately $29,000. Ruedi Wealth Management Inc. bought a new position in NIKE during the fourth quarter valued at approximately $30,000. Finally, Iron Horse Wealth Management LLC lifted its position in NIKE by 27,300.0% during the fourth quarter. Iron Horse Wealth Management LLC now owns 274 shares of the footwear maker’s stock valued at $32,000 after purchasing an additional 273 shares during the period. Institutional investors own 63.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Raymond James lowered their price objective on shares of NIKE from $135.00 to $128.00 in a research report on Friday, June 30th. Bank of America reduced their target price on shares of NIKE from $135.00 to $125.00 in a report on Friday, June 30th. Wedbush upped their target price on shares of NIKE from $129.00 to $131.00 in a report on Friday, June 30th. Credit Suisse Group upped their target price on shares of NIKE from $132.00 to $139.00 and gave the company an “outperform” rating in a report on Wednesday, March 22nd. Finally, Jefferies Financial Group upped their target price on shares of NIKE from $140.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, March 22nd. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and twenty-two have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $131.13.

Insider Transactions at NIKE

In other news, CFO Matthew Friend sold 9,210 shares of the firm’s stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $107.50, for a total value of $990,075.00. Following the completion of the sale, the chief financial officer now owns 41,771 shares in the company, valued at approximately $4,490,382.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, VP Johanna Nielsen sold 282 shares of the firm’s stock in a transaction dated Monday, April 17th. The shares were sold at an average price of $126.03, for a total value of $35,540.46. Following the transaction, the vice president now owns 3,518 shares of the company’s stock, valued at approximately $443,373.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Matthew Friend sold 9,210 shares of the firm’s stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $107.50, for a total transaction of $990,075.00. Following the completion of the transaction, the chief financial officer now directly owns 41,771 shares in the company, valued at approximately $4,490,382.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 119,492 shares of company stock worth $14,320,215. 0.40% of the stock is currently owned by insiders.

NIKE Price Performance

NKE stock opened at $104.46 on Monday. NIKE, Inc. has a 52 week low of $82.22 and a 52 week high of $131.31. The company has a quick ratio of 1.81, a current ratio of 2.72 and a debt-to-equity ratio of 0.64. The company has a fifty day simple moving average of $112.86 and a two-hundred day simple moving average of $119.27. The firm has a market capitalization of $160.55 billion, a P/E ratio of 32.34, a price-to-earnings-growth ratio of 1.84 and a beta of 1.11.

NIKE (NYSE:NKE – Free Report) last released its earnings results on Thursday, June 29th. The footwear maker reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.68 by ($0.02). The firm had revenue of $12.80 billion during the quarter, compared to the consensus estimate of $12.58 billion. NIKE had a return on equity of 34.01% and a net margin of 9.90%. NIKE’s revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.90 EPS. Analysts anticipate that NIKE, Inc. will post 3.71 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 5th. Stockholders of record on Monday, June 5th were issued a $0.34 dividend. The ex-dividend date was Friday, June 2nd. This represents a $1.36 annualized dividend and a dividend yield of 1.30%. NIKE’s dividend payout ratio (DPR) is presently 42.11%.

About NIKE

(Free Report)

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells men's, women's, and kids athletic footwear, apparel, equipment, and accessories 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.

Want to see what other hedge funds are holding NKE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NIKE, Inc. (NYSE:NKE – Free Report).

Institutional Ownership by Quarter for NIKE (NYSE:NKE)

Receive News & Ratings for NIKE Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NIKE and related companies with MarketBeat.com's FREE daily email newsletter.