Parkside Financial Bank & Trust Cuts Holdings in NIKE, Inc. (NYSE:NKE)

Parkside Financial Bank & Trust lowered its stake in shares of NIKE, Inc. (NYSE:NKE) by 14.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,492 shares of the footwear maker’s stock after selling 1,245 shares during the period. Parkside Financial Bank & Trust’s holdings in NIKE were worth $565,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. 9258 Wealth Management LLC raised its position in NIKE by 23.9% during the fourth quarter. 9258 Wealth Management LLC now owns 4,366 shares of the footwear maker’s stock valued at $474,000 after acquiring an additional 842 shares in the last quarter. Gryphon Financial Partners LLC increased its stake in shares of NIKE by 34.6% in the 4th quarter. Gryphon Financial Partners LLC now owns 11,598 shares of the footwear maker’s stock worth $1,259,000 after acquiring an additional 2,981 shares during the last quarter. Principal Securities Inc. purchased a new position in NIKE during the fourth quarter worth about $886,000. Van Hulzen Asset Management LLC raised its position in shares of NIKE by 5.0% during the 4th quarter. Van Hulzen Asset Management LLC now owns 2,677 shares of the footwear maker’s stock valued at $291,000 after buying an additional 127 shares during the period. Finally, Lebenthal Global Advisors LLC acquired a new position in shares of NIKE in the 4th quarter valued at $285,000. Institutional investors own 64.25% of the company’s stock.

NIKE Stock Performance

NYSE NKE opened at $80.64 on Friday. The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.55. The company’s 50-day simple moving average is $76.94 and its 200 day simple moving average is $88.78. The stock has a market cap of $121.71 billion, a P/E ratio of 21.62, a PEG ratio of 2.19 and a beta of 1.01. NIKE, Inc. has a twelve month low of $70.75 and a twelve month high of $123.39.

NIKE (NYSE:NKE) last announced its earnings results on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, topping the consensus estimate of $0.85 by $0.16. The business had revenue of $12.60 billion for the quarter, compared to the consensus estimate of $12.86 billion. NIKE had a return on equity of 42.63% and a net margin of 11.10%. NIKE’s revenue was down 1.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.66 EPS. As a group, research analysts forecast that NIKE, Inc. will post 3.1 earnings per share for the current fiscal year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be paid a dividend of $0.37 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $1.48 annualized dividend and a dividend yield of 1.84%. NIKE’s dividend payout ratio (DPR) is currently 39.68%.

Insider Buying and Selling at NIKE

In other news, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction that occurred on 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 owns 1,102,090 shares in the company, valued at approximately $80,419,507.30. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the company’s 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 $80,419,507.30. The sale 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 52,487 shares of the firm’s stock in a transaction 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 sale, the chairman now directly owns 1,031,226 shares in the company, valued at approximately $80,435,628. The disclosure for this sale can be found here. Corporate insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have 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 note on Friday, June 28th. StockNews.com cut NIKE from a “buy” rating to a “hold” rating in a research note on Friday, June 21st. Citigroup lowered their price target on NIKE from $115.00 to $102.00 and set a “buy” rating for the company in a research report on Friday, June 28th. Raymond James reiterated a “market perform” rating on shares of NIKE in a report on Friday, June 28th. Finally, KeyCorp reissued a “sector weight” rating on shares of NIKE in a research note on Friday, June 28th. Fifteen investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $95.59.

NIKE Company 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.