NIKE, Inc. (NYSE:NKE) Shares Sold by Northeast Investment Management

Northeast Investment Management lessened its position in shares of NIKE, Inc. (NYSE:NKE) by 11.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 180,469 shares of the footwear maker’s stock after selling 23,252 shares during the quarter. Northeast Investment Management’s holdings in NIKE were worth $13,602,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Annapolis Financial Services LLC boosted its position in NIKE by 440.0% during the first quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock worth $25,000 after acquiring an additional 220 shares during the last quarter. True Wealth Design LLC raised its stake in NIKE by 106.4% during the fourth quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock worth $32,000 after purchasing an additional 150 shares during the period. Core Wealth Advisors Inc. raised its stake in shares of NIKE by 408.5% in the 4th quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock valued at $33,000 after acquiring an additional 241 shares during the period. Frank Rimerman Advisors LLC purchased a new stake in shares of NIKE in the 4th quarter valued at approximately $33,000. Finally, Gold Investment Management Ltd. purchased a new stake in shares of NIKE in the 4th quarter valued at approximately $36,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on NKE. UBS Group restated a “neutral” rating and issued a $78.00 price objective on shares of NIKE in a report on Friday, June 28th. Barclays cut shares of NIKE from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $109.00 to $80.00 in a report on Friday, June 28th. Wells Fargo & Company dropped their price objective on shares of NIKE from $115.00 to $92.00 and set an “overweight” rating for the company in a report on Friday, June 28th. Morgan Stanley restated an “equal weight” rating and issued a $79.00 price objective (down previously from $114.00) on shares of NIKE in a report on Friday, June 28th. Finally, Bank of America dropped their price objective on shares of NIKE from $113.00 to $104.00 and set a “buy” rating for the company in a report on Friday, June 28th. Fifteen equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, NIKE currently has an average rating of “Moderate Buy” and an average price target of $95.59.

Insiders Place Their Bets

In other news, Chairman Mark G. Parker sold 110,000 shares of the 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 transaction, the chairman now owns 1,102,090 shares in the company, valued at approximately $80,419,507.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Chairman Mark G. Parker sold 52,487 shares of the stock in a transaction dated 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 sale, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Chairman Mark G. Parker sold 110,000 shares of the stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the completion of the sale, the chairman now directly 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.

NIKE Stock Performance

NIKE stock traded down $2.50 during trading hours on Wednesday, reaching $82.79. 10,417,313 shares of the stock were exchanged, compared to its average volume of 11,463,695. The stock has a market cap of $124.96 billion, a P/E ratio of 22.20, 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, Inc. has a 52-week low of $70.75 and a 52-week high of $123.39. The firm’s 50 day moving average is $78.67 and its 200 day moving average is $89.86.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 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 the consensus estimate of $12.86 billion. NIKE had a net margin of 11.10% and a return on equity of 42.63%. NIKE’s quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.66 EPS. Analysts predict that NIKE, Inc. will post 3.12 EPS for the current fiscal year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd will be given a dividend of $0.37 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $1.48 dividend on an annualized basis and a yield of 1.79%. NIKE’s payout ratio is currently 39.68%.

NIKE 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.