Capital Investment Advisors LLC Lowers Stock Holdings in NIKE, Inc. (NYSE:NKE)

Capital Investment Advisors LLC trimmed its position in shares of NIKE, Inc. (NYSE:NKE) by 10.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 130,180 shares of the footwear maker’s stock after selling 15,809 shares during the quarter. Capital Investment Advisors LLC’s holdings in NIKE were worth $11,508,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of NKE. Annapolis Financial Services LLC boosted its holdings in NIKE by 440.0% during the 1st quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock valued at $25,000 after acquiring an additional 220 shares during the period. Transcendent Capital Group LLC boosted its holdings in NIKE by 97.6% during the 1st quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker’s stock valued at $38,000 after acquiring an additional 200 shares during the period. VitalStone Financial LLC boosted its holdings in NIKE by 52.6% during the 3rd quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock valued at $38,000 after acquiring an additional 150 shares during the period. Bruce G. Allen Investments LLC boosted its holdings in NIKE by 272.5% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock valued at $39,000 after acquiring an additional 376 shares during the period. Finally, Triad Wealth Partners LLC purchased a new position in NIKE during the 2nd quarter valued at about $44,000. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

NIKE Trading Down 0.6 %

NYSE:NKE opened at $82.92 on Friday. The firm has a market cap of $125.16 billion, a P/E ratio of 22.23, a PEG ratio of 1.96 and a beta of 1.02. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57. The stock’s 50 day simple moving average is $82.64 and its 200-day simple moving average is $85.32. NIKE, Inc. has a 12-month low of $70.75 and a 12-month high of $123.39.

NIKE (NYSE:NKE) last released its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.18. The business had revenue of $11.59 billion for the quarter, compared to analyst estimates of $11.64 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The company’s revenue for the quarter was down 10.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.94 earnings per share. Equities analysts anticipate that NIKE, Inc. will post 2.8 EPS for the current year.

NIKE Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. KeyCorp reiterated a “sector weight” rating on shares of NIKE in a research note on Friday, June 28th. Morgan Stanley lifted their price objective on NIKE from $79.00 to $82.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. Jefferies Financial Group lifted their price objective on NIKE from $80.00 to $85.00 and gave the company a “hold” rating in a research note on Monday, September 30th. Guggenheim decreased their price objective on NIKE from $115.00 to $110.00 and set a “buy” rating for the company in a research note on Wednesday, October 2nd. Finally, HSBC decreased their price objective on NIKE from $100.00 to $90.00 and set a “hold” rating for the company in a research note on Friday, June 28th. Fourteen equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $96.56.

Insider Activity

In other 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 transaction, the chairman now owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.50% of the company’s stock.

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.