Smithbridge Asset Management Inc. DE Reduces Stock Position in NIKE, Inc. (NYSE:NKE)

Smithbridge Asset Management Inc. DE trimmed its stake in shares of NIKE, Inc. (NYSE:NKE) by 5.0% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 45,923 shares of the footwear maker’s stock after selling 2,438 shares during the period. Smithbridge Asset Management Inc. DE’s holdings in NIKE were worth $3,461,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Tennessee Valley Asset Management Partners purchased a new position in shares of NIKE in the fourth quarter worth approximately $51,000. Tyche Wealth Partners LLC purchased a new stake in shares of NIKE in the 4th quarter worth $354,000. Livforsakringsbolaget Skandia Omsesidigt raised its holdings in NIKE by 7.3% in the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 15,458 shares of the footwear maker’s stock worth $1,678,000 after purchasing an additional 1,052 shares during the period. Twin Capital Management Inc. lifted its position in NIKE by 2.3% during the fourth quarter. Twin Capital Management Inc. now owns 6,574 shares of the footwear maker’s stock valued at $714,000 after purchasing an additional 145 shares in the last quarter. Finally, Oliver Lagore Vanvalin Investment Group grew its holdings in NIKE by 17.1% during the fourth quarter. Oliver Lagore Vanvalin Investment Group now owns 16,321 shares of the footwear maker’s stock valued at $1,772,000 after purchasing an additional 2,380 shares during the period. Institutional investors own 64.25% of the company’s stock.

NIKE Trading Up 0.9 %

NYSE NKE traded up $0.73 during trading on Friday, hitting $83.23. The stock had a trading volume of 13,794,181 shares, compared to its average volume of 11,563,057. NIKE, Inc. has a one year low of $70.75 and a one year high of $123.39. The stock has a 50 day simple moving average of $80.17 and a 200 day simple moving average of $90.84. The stock has a market capitalization of $125.62 billion, a price-to-earnings ratio of 22.31, a P/E/G ratio of 1.92 and a beta of 1.01. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.69 and a current ratio of 2.40.

NIKE (NYSE:NKE) last issued its quarterly 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 firm 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%. NIKE’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same period last year, the company earned $0.66 EPS. Sell-side analysts predict that NIKE, Inc. will post 3.12 earnings per share for the current year.

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date of this dividend is Tuesday, September 3rd. NIKE’s dividend payout ratio is currently 39.68%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Wedbush cut their price objective on NIKE from $115.00 to $97.00 and set an “outperform” rating for the company in a research note on Friday, June 28th. HSBC dropped their target price on shares of NIKE from $100.00 to $90.00 and set a “hold” rating for the company in a report on Friday, June 28th. Bank of America decreased their target price on NIKE from $113.00 to $104.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. Barclays downgraded NIKE from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $109.00 to $80.00 in a research note on Friday, June 28th. Finally, BMO Capital Markets lowered their target price on shares of NIKE from $118.00 to $100.00 and set an “outperform” rating on the stock in a report on Friday, June 28th. Fifteen analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $96.59.

Insider Transactions at NIKE

In related news, Chairman Mark G. Parker sold 52,487 shares of the business’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 sale, the chairman now owns 1,031,226 shares in the company, valued at $80,435,628. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Chairman Mark G. Parker sold 110,000 shares of the business’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $72.97, for a total value of $8,026,700.00. Following the completion of the sale, the chairman now owns 1,102,090 shares in the company, valued at approximately $80,419,507.30. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 transaction, the chairman now owns 1,031,226 shares in the company, valued at $80,435,628. The disclosure for this sale can be found here. Company insiders own 0.50% of the company’s stock.

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.