NIKE, Inc. (NYSE:NKE) Stake Lowered by Boltwood Capital Management

Boltwood Capital Management reduced its stake in shares of NIKE, Inc. (NYSE:NKE) by 25.9% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,483 shares of the footwear maker’s stock after selling 869 shares during the period. Boltwood Capital Management’s holdings in NIKE were worth $219,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Annapolis Financial Services LLC grew its holdings in shares of NIKE by 440.0% during the 1st quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock valued at $25,000 after acquiring an additional 220 shares in the last quarter. True Wealth Design LLC boosted its holdings in NIKE by 106.4% in the fourth quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock worth $32,000 after purchasing an additional 150 shares in the last quarter. Frank Rimerman Advisors LLC bought a new stake in NIKE in the fourth quarter worth $33,000. Core Wealth Advisors Inc. boosted its holdings in NIKE by 408.5% in the fourth quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock worth $33,000 after purchasing an additional 241 shares in the last quarter. Finally, Pineridge Advisors LLC bought a new stake in NIKE in the fourth quarter worth $38,000. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on NKE shares. The Goldman Sachs Group decreased their price objective on shares of NIKE from $118.00 to $105.00 and set a “buy” rating for the company in a report on Friday, June 28th. Raymond James reiterated a “market perform” rating on shares of NIKE in a report on Friday, June 28th. Bank of America decreased their price target on shares of NIKE from $104.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday. Royal Bank of Canada decreased their price target on shares of NIKE from $85.00 to $82.00 and set a “sector perform” rating for the company in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of NIKE from $95.00 to $92.00 and set a “buy” rating for the company in a report on Wednesday. Fifteen investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $96.04.

Insider Buying and Selling at NIKE

In other news, Chairman Mark G. Parker sold 52,487 shares of the business’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 completion of the transaction, the chairman now owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Chairman Mark G. Parker sold 110,000 shares of the business’s stock in a transaction 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 sale, the chairman now directly 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 at this hyperlink. Also, Chairman Mark G. Parker sold 52,487 shares of the business’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. Insiders own 0.50% of the company’s stock.

NIKE Price Performance

Shares of NKE stock opened at $83.10 on Thursday. NIKE, Inc. has a 52-week low of $70.75 and a 52-week high of $123.39. The stock has a market cap of $125.43 billion, a PE ratio of 22.28, a PEG ratio of 2.30 and a beta of 1.02. 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 firm’s 50 day moving average price is $80.50 and its two-hundred day moving average price is $86.39.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.18. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The firm had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $11.64 billion. During the same period last year, the firm earned $0.94 earnings per share. The business’s revenue for the quarter was down 10.4% on a year-over-year basis. As a group, analysts forecast that NIKE, Inc. will post 3.04 EPS for the current year.

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd were paid a $0.37 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $1.48 dividend on an annualized basis and a yield of 1.78%. NIKE’s payout ratio is presently 39.68%.

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.