CVA Family Office LLC Sells 852 Shares of NIKE, Inc. (NYSE:NKE)

CVA Family Office LLC reduced its stake in NIKE, Inc. (NYSE:NKE) by 37.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,402 shares of the footwear maker’s stock after selling 852 shares during the quarter. CVA Family Office LLC’s holdings in NIKE were worth $89,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in NKE. Heck Capital Advisors LLC bought a new stake in shares of NIKE in the 4th quarter worth approximately $28,000. Roxbury Financial LLC bought a new position in NIKE in the 4th quarter valued at approximately $30,000. LFA Lugano Financial Advisors SA lifted its position in NIKE by 110.5% in the 4th quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker’s stock valued at $30,000 after acquiring an additional 210 shares in the last quarter. Hopwood Financial Services Inc. bought a new position in NIKE in the 4th quarter valued at approximately $30,000. Finally, EnRich Financial Partners LLC lifted its position in NIKE by 196.4% in the 4th quarter. EnRich Financial Partners LLC now owns 412 shares of the footwear maker’s stock valued at $31,000 after acquiring an additional 273 shares in the last quarter. 64.25% of the stock is owned by institutional investors.

NIKE Stock Down 3.8%

Shares of NYSE:NKE opened at $60.44 on Monday. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a 12 month low of $52.28 and a 12 month high of $98.04. The company has a 50-day moving average price of $59.38 and a 200 day moving average price of $68.60. The company has a market cap of $89.40 billion, a price-to-earnings ratio of 18.65, a PEG ratio of 2.52 and a beta of 1.21.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.26. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The firm had revenue of $11.27 billion during the quarter, compared to the consensus estimate of $11.02 billion. During the same quarter last year, the firm earned $0.98 EPS. The firm’s revenue for the quarter was down 9.1% compared to the same quarter last year. As a group, equities research analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date is Monday, June 2nd. NIKE’s dividend payout ratio (DPR) is currently 53.16%.

Insider Buying and Selling

In other news, Director Robert Holmes Swan acquired 8,600 shares of NIKE stock in a transaction that occurred on Friday, April 4th. The shares were bought at an average cost of $58.46 per share, with a total value of $502,756.00. Following the transaction, the director now directly owns 31,983 shares of the company’s stock, valued at $1,869,726.18. This trade represents a 36.78% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. 1.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

NKE has been the topic of several analyst reports. Cfra Research raised NIKE to a “moderate buy” rating in a research report on Friday, March 21st. Citigroup lowered their price objective on NIKE from $72.00 to $57.00 and set a “neutral” rating on the stock in a research report on Monday, April 28th. Williams Trading lowered their price objective on NIKE from $93.00 to $73.00 and set a “buy” rating on the stock in a research report on Monday, April 21st. Truist Financial lowered their price objective on NIKE from $90.00 to $82.00 and set a “buy” rating on the stock in a research report on Friday, March 21st. Finally, Wells Fargo & Company upped their price objective on NIKE from $55.00 to $60.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 14th. Seventeen investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $80.26.

NIKE Company 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.