NIKE, Inc. (NYSE:NKE) Shares Sold by Resonant Capital Advisors LLC

Resonant Capital Advisors LLC lessened its holdings in shares of NIKE, Inc. (NYSE:NKE) by 9.9% in the second quarter, according to its most recent filing with the SEC. The firm owned 3,814 shares of the footwear maker’s stock after selling 421 shares during the quarter. Resonant Capital Advisors LLC’s holdings in NIKE were worth $289,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Norges Bank bought a new stake in shares of NIKE during the 4th quarter worth about $1,315,097,000. Price T Rowe Associates Inc. MD increased its position in shares of NIKE by 87.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 17,135,431 shares of the footwear maker’s stock valued at $1,860,395,000 after purchasing an additional 7,996,434 shares during the period. Capital International Investors raised its stake in shares of NIKE by 34.9% in the 4th quarter. Capital International Investors now owns 27,609,613 shares of the footwear maker’s stock worth $2,997,628,000 after buying an additional 7,143,775 shares in the last quarter. Longview Partners Guernsey LTD acquired a new stake in shares of NIKE in the first quarter valued at $533,533,000. Finally, Capital World Investors boosted its stake in NIKE by 612.2% during the first quarter. Capital World Investors now owns 5,185,432 shares of the footwear maker’s stock valued at $487,327,000 after buying an additional 4,457,376 shares in the last quarter. Institutional investors own 64.25% of the company’s stock.

Insider Activity

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

Analyst Ratings Changes

Several research firms have recently weighed in on NKE. Citigroup reduced their price objective on shares of NIKE from $115.00 to $102.00 and set a “buy” rating for the company in a research report on Friday, June 28th. Bank of America decreased their price target on shares of NIKE from $113.00 to $104.00 and set a “buy” rating on the stock in a research report on Friday, June 28th. Raymond James reaffirmed a “market perform” rating on shares of NIKE in a research report on Friday, June 28th. The Goldman Sachs Group decreased 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. Finally, Robert W. Baird cut their price objective on NIKE from $125.00 to $100.00 and set an “outperform” rating on the stock in a report on Friday, June 28th. Fifteen investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $95.59.

NIKE Stock Performance

NKE opened at $83.32 on Tuesday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.69 and a current ratio of 2.40. The company has a market cap of $125.76 billion, a PE ratio of 22.34, a price-to-earnings-growth ratio of 2.19 and a beta of 1.01. The stock has a 50-day moving average of $77.63 and a 200-day moving average of $89.21. NIKE, Inc. has a 52-week low of $70.75 and a 52-week high of $123.39.

NIKE (NYSE:NKE) last issued 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. The business had revenue of $12.60 billion during the quarter, compared to analysts’ expectations of $12.86 billion. NIKE had a net margin of 11.10% and a return on equity of 42.63%. NIKE’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.66 earnings per share. As a group, equities research analysts forecast that NIKE, Inc. will post 3.1 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd will be issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date is Tuesday, September 3rd. NIKE’s dividend payout ratio (DPR) is 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.