Baker Tilly Wealth Management LLC Sells 20,268 Shares of NIKE, Inc. (NYSE:NKE)

Baker Tilly Wealth Management LLC decreased its holdings in NIKE, Inc. (NYSE:NKE) by 78.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,691 shares of the footwear maker’s stock after selling 20,268 shares during the period. Baker Tilly Wealth Management LLC’s holdings in NIKE were worth $429,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NKE. Norges Bank bought a new position in shares of NIKE during the 4th quarter valued at approximately $1,315,097,000. Price T Rowe Associates Inc. MD increased its position in shares of NIKE by 87.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 17,135,431 shares of the footwear maker’s stock valued at $1,860,395,000 after purchasing an additional 7,996,434 shares during the last quarter. Capital International Investors increased its position in shares of NIKE by 34.9% during the 4th quarter. Capital International Investors now owns 27,609,613 shares of the footwear maker’s stock valued at $2,997,628,000 after purchasing an additional 7,143,775 shares during the last quarter. Longview Partners Guernsey LTD bought a new position in shares of NIKE during the 1st quarter valued at approximately $533,533,000. Finally, Capital World Investors increased its position in shares of NIKE by 612.2% during the 1st quarter. Capital World Investors now owns 5,185,432 shares of the footwear maker’s stock valued at $487,327,000 after purchasing an additional 4,457,376 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on NKE shares. Morgan Stanley reissued an “equal weight” rating and set a $79.00 target price (down previously from $114.00) on shares of NIKE in a research report on Friday, June 28th. Stifel Nicolaus reiterated a “hold” rating and issued a $88.00 target price (down previously from $117.00) on shares of NIKE in a research note on Friday, June 28th. Oppenheimer reissued an “outperform” rating and set a $120.00 target price on shares of NIKE in a research note on Friday, June 28th. Evercore ISI reduced their price target on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a research note on Friday, June 28th. Finally, Telsey Advisory Group decreased their price objective on shares of NIKE from $115.00 to $100.00 and set an “outperform” rating for the company in a report on Friday, June 28th. Fifteen investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $96.59.

Insiders Place Their Bets

In related news, Chairman Mark G. Parker sold 52,487 shares of the stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the completion of the transaction, the chairman now owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the sale, the chairman now directly owns 1,031,226 shares in the company, valued at $80,435,628. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert Holmes Swan acquired 2,941 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The stock was acquired at an average price of $77.02 per share, with a total value of $226,515.82. Following the acquisition, the director now directly owns 20,946 shares of the company’s stock, valued at approximately $1,613,260.92. The disclosure for this purchase can be found here. Corporate insiders own 0.50% of the company’s stock.

NIKE Stock Performance

Shares of NYSE NKE traded up $0.73 during midday trading on Friday, reaching $83.23. The company had a trading volume of 13,794,181 shares, compared to its average volume of 11,563,057. NIKE, Inc. has a 1 year low of $70.75 and a 1 year high of $123.39. The business’s 50-day simple moving average is $80.17 and its 200 day simple moving average is $90.93. The company has a current ratio of 2.40, a quick ratio of 1.69 and a debt-to-equity ratio of 0.55. The stock has a market cap of $125.62 billion, a P/E ratio of 22.32, a P/E/G ratio of 1.92 and a beta of 1.01.

NIKE (NYSE:NKE) last issued its earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.16. The company had revenue of $12.60 billion during the quarter, compared to analyst estimates of $12.86 billion. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The firm’s quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter last year, the business posted $0.66 EPS. On average, analysts forecast that NIKE, Inc. will post 3.12 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders 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 dividend on an annualized basis and a yield of 1.78%. NIKE’s payout ratio is 39.68%.

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.