Burney Co. Decreases Stock Position in NIKE, Inc. (NYSE:NKE)

Burney Co. lessened its stake in NIKE, Inc. (NYSE:NKE) by 1.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,053 shares of the footwear maker’s stock after selling 147 shares during the period. Burney Co.’s holdings in NIKE were worth $758,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Annapolis Financial Services LLC boosted its stake in NIKE by 440.0% in the 1st quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock worth $25,000 after purchasing an additional 220 shares during the period. True Wealth Design LLC grew its holdings in shares of NIKE by 106.4% in the fourth quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock valued at $32,000 after purchasing an additional 150 shares in the last quarter. Frank Rimerman Advisors LLC purchased a new stake in NIKE during the fourth quarter valued at $33,000. Core Wealth Advisors Inc. lifted its position in NIKE by 408.5% during the fourth quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock valued at $33,000 after purchasing an additional 241 shares during the last quarter. Finally, Gold Investment Management Ltd. bought a new stake in shares of NIKE in the 4th quarter worth about $36,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Price Performance

NKE traded up $0.64 on Thursday, hitting $83.43. 4,156,737 shares of the company’s stock were exchanged, compared to its average volume of 11,420,039. The firm has a 50-day moving average price of $78.67 and a 200-day moving average price of $89.86. The stock has a market cap of $125.93 billion, a price-to-earnings ratio of 22.44, a P/E/G ratio of 1.92 and a beta of 1.01. The company has a current ratio of 2.40, a quick ratio of 1.69 and a debt-to-equity ratio of 0.55. NIKE, Inc. has a fifty-two week low of $70.75 and a fifty-two week high of $123.39.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.16. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The company had revenue of $12.60 billion for the quarter, compared to analyst estimates of $12.86 billion. During the same quarter in the previous year, the company posted $0.66 earnings per share. The firm’s revenue for the quarter was down 1.6% compared to the same quarter last year. As a group, equities analysts anticipate that NIKE, Inc. will post 3.12 earnings per share for the current year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders 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 yield of 1.77%. The ex-dividend date of this dividend is Tuesday, September 3rd. NIKE’s dividend payout ratio (DPR) is presently 39.68%.

Analyst Ratings Changes

Several research analysts recently commented on NKE shares. TD Cowen dropped their price target on NIKE from $75.00 to $71.00 and set a “hold” rating for the company in a research report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft decreased their price target on NIKE from $115.00 to $92.00 and set a “buy” rating on the stock in a report on Wednesday, July 3rd. The Goldman Sachs Group lowered their price target on NIKE from $118.00 to $105.00 and set a “buy” rating for the company in a research report on Friday, June 28th. Guggenheim reduced their target price on shares of NIKE from $130.00 to $115.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. Finally, Oppenheimer restated an “outperform” rating and issued a $120.00 target price on shares of NIKE 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 company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $95.59.

Insiders Place Their Bets

In other news, Chairman Mark G. Parker sold 110,000 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $80,419,507.30. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, Chairman Mark G. Parker sold 52,487 shares of NIKE stock in a transaction that occurred on Wednesday, August 14th. The shares were 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 approximately $80,435,628. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Mark G. Parker sold 110,000 shares of the company’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $72.97, for a total value of $8,026,700.00. Following the transaction, the chairman now owns 1,102,090 shares in the company, valued at $80,419,507.30. The disclosure for this sale can be found here. 0.50% of the stock is owned by insiders.

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.