NIKE, Inc. (NYSE:NKE) Position Reduced by Evernest Financial Advisors LLC

Evernest Financial Advisors LLC reduced its position in NIKE, Inc. (NYSE:NKE) by 9.5% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 4,004 shares of the footwear maker’s stock after selling 418 shares during the quarter. Evernest Financial Advisors LLC’s holdings in NIKE were worth $354,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Longview Partners Guernsey LTD purchased a new stake in shares of NIKE in the first quarter valued at $533,533,000. Capital World Investors lifted its stake in NIKE by 612.2% in the 1st quarter. Capital World Investors now owns 5,185,432 shares of the footwear maker’s stock worth $487,327,000 after acquiring an additional 4,457,376 shares in the last quarter. Jennison Associates LLC boosted its position in NIKE by 45.6% during the 1st quarter. Jennison Associates LLC now owns 8,859,580 shares of the footwear maker’s stock worth $832,623,000 after acquiring an additional 2,775,510 shares during the period. PineStone Asset Management Inc. grew its stake in NIKE by 138.3% during the 2nd quarter. PineStone Asset Management Inc. now owns 2,715,689 shares of the footwear maker’s stock valued at $204,681,000 after acquiring an additional 1,576,049 shares in the last quarter. Finally, Renaissance Technologies LLC increased its holdings in shares of NIKE by 351.7% in the 2nd quarter. Renaissance Technologies LLC now owns 1,991,519 shares of the footwear maker’s stock valued at $150,101,000 after purchasing an additional 1,550,611 shares during the period. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Stock Performance

Shares of NYSE NKE opened at $81.49 on Tuesday. The firm has a market capitalization of $123.00 billion, a price-to-earnings ratio of 21.85, a PEG ratio of 1.96 and a beta of 1.02. NIKE, Inc. has a one year low of $70.75 and a one year high of $123.39. The business has a fifty day simple moving average of $82.77 and a 200 day simple moving average of $85.19. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57.

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 10.60% and a return on equity of 39.84%. The company had revenue of $11.59 billion during the quarter, compared to analysts’ expectations of $11.64 billion. During the same quarter in the prior year, the company posted $0.94 EPS. The business’s revenue was down 10.4% on a year-over-year basis. Sell-side analysts expect that NIKE, Inc. will post 2.8 EPS for the current year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd were issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date was Tuesday, September 3rd. NIKE’s payout ratio is 39.68%.

Insider Buying and Selling at NIKE

In related news, Chairman Mark G. Parker sold 52,487 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the completion of the transaction, the chairman now owns 1,031,226 shares in the company, valued at $80,435,628. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on NKE shares. Evercore ISI decreased their price target on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a report on Wednesday, October 2nd. BMO Capital Markets lowered their price target on NIKE from $118.00 to $100.00 and set an “outperform” rating for the company in a research note on Friday, June 28th. UBS Group boosted their target price on shares of NIKE from $78.00 to $82.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Stifel Nicolaus decreased their price target on NIKE from $88.00 to $79.00 and set a “hold” rating for the company in a research note on Monday, August 26th. Finally, Daiwa America lowered NIKE from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Fourteen equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, NIKE currently has an average rating of “Moderate Buy” and a consensus price target of $96.56.

About NIKE

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.