Toth Financial Advisory Corp Reduces Stock Position in NIKE, Inc. (NYSE:NKE)

Toth Financial Advisory Corp reduced its holdings in shares of NIKE, Inc. (NYSE:NKE) by 7.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,517 shares of the footwear maker’s stock after selling 1,083 shares during the quarter. Toth Financial Advisory Corp’s holdings in NIKE were worth $1,270,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Piscataqua Savings Bank raised its position in shares of NIKE by 2.1% during the fourth quarter. Piscataqua Savings Bank now owns 4,861 shares of the footwear maker’s stock valued at $528,000 after buying an additional 100 shares during the last quarter. Physicians Financial Services Inc. raised its position in NIKE by 0.6% in the fourth quarter. Physicians Financial Services Inc. now owns 16,077 shares of the footwear maker’s stock worth $1,745,000 after purchasing an additional 100 shares in the last quarter. ZWJ Investment Counsel Inc. raised its position in NIKE by 4.0% in the fourth quarter. ZWJ Investment Counsel Inc. now owns 2,599 shares of the footwear maker’s stock worth $282,000 after purchasing an additional 100 shares in the last quarter. Kornitzer Capital Management Inc. KS raised its position in NIKE by 0.4% in the fourth quarter. Kornitzer Capital Management Inc. KS now owns 25,568 shares of the footwear maker’s stock worth $2,776,000 after purchasing an additional 100 shares in the last quarter. Finally, Claro Advisors LLC raised its position in NIKE by 0.8% in the fourth quarter. Claro Advisors LLC now owns 12,227 shares of the footwear maker’s stock worth $1,327,000 after purchasing an additional 101 shares in the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

Insider Activity at NIKE

In other NIKE news, Chairman Mark G. Parker sold 168,378 shares of the business’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $93.14, for a total transaction of $15,682,726.92. Following the sale, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at approximately $102,648,662.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other NIKE news, VP Johanna Nielsen sold 282 shares of the business’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $93.64, for a total transaction of $26,406.48. Following the sale, the vice president now directly owns 730 shares of the company’s stock, valued at approximately $68,357.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Mark G. Parker sold 168,378 shares of the business’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $93.14, for a total transaction of $15,682,726.92. Following the transaction, the chairman now owns 1,102,090 shares in the company, valued at $102,648,662.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 213,660 shares of company stock valued at $19,946,333. 0.50% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on NKE. UBS Group reissued a “neutral” rating and issued a $78.00 price target on shares of NIKE in a research report on Friday. Evercore ISI decreased their price objective on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a research note on Friday. TD Cowen decreased their price objective on shares of NIKE from $89.00 to $75.00 and set a “hold” rating on the stock in a research note on Friday. Robert W. Baird decreased their price objective on shares of NIKE from $125.00 to $100.00 and set an “outperform” rating on the stock in a research note on Friday. Finally, StockNews.com cut shares of NIKE from a “buy” rating to a “hold” rating in a research note on Friday, June 21st. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, NIKE currently has an average rating of “Hold” and an average price target of $98.96.

NIKE Trading Down 20.0 %

NKE opened at $75.37 on Friday. The stock has a market capitalization of $113.76 billion, a P/E ratio of 20.21, a P/E/G ratio of 1.43 and a beta of 1.05. NIKE, Inc. has a 12 month low of $74.55 and a 12 month high of $123.39. The firm’s fifty day simple moving average is $93.28 and its 200 day simple moving average is $99.00. The company has a current ratio of 2.74, a quick ratio of 1.89 and a debt-to-equity ratio of 0.63.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, beating the consensus estimate of $0.85 by $0.16. The business had revenue of $12.60 billion for the quarter, compared to analysts’ expectations of $12.86 billion. NIKE had a net margin of 11.10% and a return on equity of 42.87%. The firm’s revenue was down 1.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.66 EPS. As a group, research analysts anticipate that NIKE, Inc. will post 3.9 EPS for the current fiscal year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be given a $0.37 dividend. The ex-dividend date is Monday, June 3rd. This represents a $1.48 annualized dividend and a yield of 1.96%. NIKE’s dividend payout ratio is currently 39.68%.

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.