Profund Advisors LLC Sells 5,161 Shares of NIKE, Inc. (NYSE:NKE)

Profund Advisors LLC decreased its stake in shares of NIKE, Inc. (NYSE:NKE) by 15.7% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 27,752 shares of the footwear maker’s stock after selling 5,161 shares during the quarter. Profund Advisors LLC’s holdings in NIKE were worth $2,092,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NKE. Annapolis Financial Services LLC boosted its position in shares of NIKE by 440.0% during the first quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock worth $25,000 after acquiring an additional 220 shares during the last quarter. True Wealth Design LLC increased its holdings in shares of NIKE by 106.4% in the 4th quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock worth $32,000 after buying an additional 150 shares during the last quarter. Frank Rimerman Advisors LLC bought a new stake in shares of NIKE in the 4th quarter worth about $33,000. Core Wealth Advisors Inc. increased its holdings in shares of NIKE by 408.5% in the 4th quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock worth $33,000 after buying an additional 241 shares during the last quarter. Finally, Gold Investment Management Ltd. bought a new stake in shares of NIKE in the 4th quarter worth about $36,000. Institutional investors own 64.25% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on NKE. HSBC reduced their target price on shares of NIKE from $100.00 to $90.00 and set a “hold” rating on the stock in a report on Friday, June 28th. Williams Trading upgraded shares of NIKE from a “sell” rating to a “buy” rating and boosted their target price for the stock from $67.00 to $93.00 in a report on Friday, August 16th. KeyCorp restated a “sector weight” rating on shares of NIKE in a report on Friday, June 28th. Wells Fargo & Company boosted their target price on shares of NIKE from $86.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday. Finally, Guggenheim dropped their price target on shares of NIKE from $130.00 to $115.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Fifteen research 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 presently has a consensus rating of “Moderate Buy” and an average target price of $96.15.

NIKE Trading Up 6.8 %

NYSE NKE opened at $86.52 on Monday. 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 firm has a market cap of $130.59 billion, a PE ratio of 23.20, a price-to-earnings-growth ratio of 2.08 and a beta of 1.02. The company has a 50 day moving average price of $78.11 and a 200 day moving average price of $86.99. 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 results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The business had revenue of $12.60 billion for the quarter, compared to analyst estimates of $12.86 billion. During the same quarter in the prior year, the business posted $0.66 EPS. NIKE’s revenue for the quarter was down 1.6% compared to the same quarter last year. As a group, sell-side analysts forecast that NIKE, Inc. will post 3.06 EPS for the current fiscal year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd will be paid a dividend of $0.37 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.48 dividend on an annualized basis and a yield of 1.71%. NIKE’s payout ratio is 39.68%.

Insider Buying and Selling at NIKE

In related news, Director Robert Holmes Swan purchased 2,941 shares of the business’s stock in a transaction on Friday, June 28th. The shares were acquired at an average price of $77.02 per share, for a total transaction of $226,515.82. Following the purchase, the director now owns 20,946 shares of the company’s stock, valued at approximately $1,613,260.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other NIKE news, Director Robert Holmes Swan acquired 2,941 shares of the company’s stock in a transaction dated Friday, June 28th. The shares were acquired at an average cost of $77.02 per share, with a total value of $226,515.82. Following the acquisition, the director now directly owns 20,946 shares of the company’s stock, valued at $1,613,260.92. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the completion of the sale, the chairman now directly owns 1,031,226 shares in the company, valued at $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.