YHB Investment Advisors Inc. Sells 3,309 Shares of NIKE, Inc. (NYSE:NKE)

YHB Investment Advisors Inc. cut its holdings in shares of NIKE, Inc. (NYSE:NKE) by 7.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 41,129 shares of the footwear maker’s stock after selling 3,309 shares during the quarter. YHB Investment Advisors Inc.’s holdings in NIKE were worth $3,636,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. McAdam LLC boosted its holdings in NIKE by 6.3% in the 3rd quarter. McAdam LLC now owns 2,852 shares of the footwear maker’s stock worth $252,000 after buying an additional 169 shares during the period. Wallington Asset Management LLC purchased a new stake in shares of NIKE during the third quarter worth $230,000. Coston McIsaac & Partners boosted its holdings in shares of NIKE by 1,218.4% in the third quarter. Coston McIsaac & Partners now owns 59,698 shares of the footwear maker’s stock worth $5,277,000 after acquiring an additional 55,170 shares during the period. Elevated Capital Advisors LLC purchased a new position in shares of NIKE in the third quarter valued at $226,000. Finally, GAM Holding AG raised its stake in shares of NIKE by 0.8% during the 3rd quarter. GAM Holding AG now owns 87,374 shares of the footwear maker’s stock valued at $7,724,000 after purchasing an additional 695 shares during the period. Institutional investors own 64.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on NKE. Wedbush cut their target price on NIKE from $115.00 to $97.00 and set an “outperform” rating for the company in a research note on Friday, June 28th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of NIKE from $95.00 to $92.00 and set a “buy” rating on the stock in a report on Wednesday, October 2nd. Truist Financial upgraded shares of NIKE from a “hold” rating to a “buy” rating and increased their target price for the stock from $83.00 to $97.00 in a research note on Thursday, October 10th. Morgan Stanley upped their price target on shares of NIKE from $79.00 to $82.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 25th. Finally, KeyCorp reissued a “sector weight” rating on shares of NIKE in a research note on Friday, June 28th. Fourteen equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $96.56.

NIKE Price Performance

Shares of NIKE stock opened at $80.04 on Thursday. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58. NIKE, Inc. has a one year low of $70.75 and a one year high of $123.39. The business’s 50 day simple moving average is $82.86 and its two-hundred day simple moving average is $85.10. The stock has a market capitalization of $120.81 billion, a P/E ratio of 21.46, a price-to-earnings-growth ratio of 1.96 and a beta of 1.02.

NIKE (NYSE:NKE) last released its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.18. The business had revenue of $11.59 billion during the quarter, compared to analyst estimates of $11.64 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. NIKE’s quarterly revenue was down 10.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.94 EPS. Analysts forecast that NIKE, Inc. will post 2.8 EPS for the current year.

NIKE Announces Dividend

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 $0.37 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $1.48 annualized dividend and a yield of 1.85%. NIKE’s dividend payout ratio (DPR) is presently 39.68%.

Insider Buying and Selling at NIKE

In other news, Chairman Mark G. Parker sold 52,487 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total value of $4,093,986.00. Following the completion of the transaction, the chairman now owns 1,031,226 shares in the company, valued at $80,435,628. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.50% of the company’s stock.

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.