Wealth Alliance Sells 4,732 Shares of NIKE, Inc. (NYSE:NKE)

Wealth Alliance lowered its stake in NIKE, Inc. (NYSE:NKE) by 54.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,970 shares of the footwear maker’s stock after selling 4,732 shares during the quarter. Wealth Alliance’s holdings in NIKE were worth $299,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Cim LLC bought a new stake in shares of NIKE in the fourth quarter worth $14,275,000. TKG Advisors LLC purchased a new position in shares of NIKE during the 4th quarter valued at about $1,012,000. Spartan Planning & Wealth Management purchased a new stake in NIKE in the 4th quarter worth approximately $182,000. Edmond DE Rothschild Holding S.A. raised its stake in NIKE by 27.9% during the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 113,299 shares of the footwear maker’s stock worth $12,301,000 after acquiring an additional 24,686 shares during the period. Finally, Advisors Asset Management Inc. boosted its holdings in NIKE by 86.0% in the 1st quarter. Advisors Asset Management Inc. now owns 20,957 shares of the footwear maker’s stock worth $1,970,000 after buying an additional 9,689 shares during the period. Institutional investors own 64.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on NKE. Oppenheimer reissued an “outperform” rating and issued a $120.00 price target on shares of NIKE in a report on Friday, June 28th. Guggenheim reduced their price objective on NIKE from $130.00 to $115.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. UBS Group reiterated a “neutral” rating and set a $78.00 target price on shares of NIKE in a research report on Friday, June 28th. Evercore ISI reduced their price target on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a research report on Friday, June 28th. Finally, Stifel Nicolaus lowered their price objective on shares of NIKE from $88.00 to $79.00 and set a “hold” rating for the company in a research report on Monday, August 26th. Fifteen analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.33.

NIKE Stock Performance

Shares of NKE stock opened at $80.97 on Friday. NIKE, Inc. has a 12-month low of $70.75 and a 12-month high of $123.39. The business’s fifty day simple moving average is $77.84 and its 200-day simple moving average is $87.23. The company has a current ratio of 2.40, a quick ratio of 1.69 and a debt-to-equity ratio of 0.55. The company has a market cap of $122.21 billion, a PE ratio of 21.71, a PEG ratio of 2.08 and a beta of 1.02.

NIKE (NYSE:NKE) last announced its earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.16. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The company had revenue of $12.60 billion for the quarter, compared to analyst estimates of $12.86 billion. During the same period in the prior year, the company posted $0.66 EPS. The firm’s quarterly revenue was down 1.6% compared to the same quarter last year. Analysts expect that NIKE, Inc. will post 3.06 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The business also recently announced 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. This represents a $1.48 annualized dividend and a yield of 1.83%. The ex-dividend date is Tuesday, September 3rd. NIKE’s dividend payout ratio is presently 39.68%.

Insider Buying and Selling at NIKE

In related news, Director Robert Holmes Swan acquired 2,941 shares of the stock in a transaction dated Friday, June 28th. The stock was acquired at an average cost of $77.02 per share, for a total transaction of $226,515.82. Following the completion of the purchase, the director now owns 20,946 shares of the company’s stock, valued at approximately $1,613,260.92. The purchase was disclosed in a document filed with the SEC, which is available through this link. In other news, Director Robert Holmes Swan bought 2,941 shares of NIKE stock in a transaction that occurred on Friday, June 28th. The stock was bought at an average price of $77.02 per share, for a total transaction of $226,515.82. Following the purchase, the director now directly owns 20,946 shares of the company’s stock, valued at approximately $1,613,260.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Mark G. Parker sold 52,487 shares of the business’s 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 owns 1,031,226 shares in the company, valued at approximately $80,435,628. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by company insiders.

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.