NIKE, Inc. (NYSE:NKE) Shares Sold by Brown Shipley& Co Ltd

Brown Shipley& Co Ltd cut its stake in shares of NIKE, Inc. (NYSE:NKE) by 9.2% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 61,813 shares of the footwear maker’s stock after selling 6,229 shares during the period. NIKE makes up approximately 2.1% of Brown Shipley& Co Ltd’s holdings, making the stock its 16th largest holding. Brown Shipley& Co Ltd’s holdings in NIKE were worth $4,659,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Ecofi Investissements SA purchased a new position in shares of NIKE in the second quarter valued at $49,000. Saratoga Research & Investment Management lifted its holdings in NIKE by 20.1% in the 2nd quarter. Saratoga Research & Investment Management now owns 745,639 shares of the footwear maker’s stock worth $56,199,000 after buying an additional 124,621 shares in the last quarter. Kampmann Melissa S. boosted its position in NIKE by 9.8% in the 2nd quarter. Kampmann Melissa S. now owns 17,937 shares of the footwear maker’s stock valued at $1,352,000 after buying an additional 1,607 shares during the last quarter. Regal Investment Advisors LLC grew its stake in shares of NIKE by 7.1% during the second quarter. Regal Investment Advisors LLC now owns 8,076 shares of the footwear maker’s stock valued at $609,000 after acquiring an additional 535 shares in the last quarter. Finally, Quarry LP increased its position in shares of NIKE by 55.7% during the second quarter. Quarry LP now owns 1,517 shares of the footwear maker’s stock worth $114,000 after acquiring an additional 543 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Stifel Nicolaus reduced their price target on NIKE from $88.00 to $79.00 and set a “hold” rating for the company in a report on Monday, August 26th. Royal Bank of Canada raised their price target on shares of NIKE from $75.00 to $85.00 and gave the stock a “sector perform” rating in a research report on Wednesday, September 25th. Raymond James reaffirmed a “market perform” rating on shares of NIKE in a report on Friday, June 28th. Citigroup decreased their price objective on shares of NIKE from $115.00 to $102.00 and set a “buy” rating for the company in a report on Friday, June 28th. Finally, Wedbush cut their target price on shares of NIKE from $115.00 to $97.00 and set an “outperform” rating on the stock in a research note on Friday, June 28th. Fifteen investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $96.52.

Insider Activity at NIKE

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the business’s stock in a transaction dated 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 sale, the chairman now directly owns 1,102,090 shares in the company, valued at approximately $80,419,507.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Chairman Mark G. Parker sold 110,000 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following 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 filing with the SEC, which is available through the SEC website. Also, Chairman Mark G. Parker sold 52,487 shares of the company’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 value of $4,093,986.00. Following the completion of the sale, the chairman now owns 1,031,226 shares of the company’s stock, valued at $80,435,628. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by insiders.

NIKE Stock Performance

NKE opened at $89.44 on Monday. 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 business’s 50 day moving average is $79.67 and its 200-day moving average is $86.57. The stock has a market cap of $135.00 billion, a PE ratio of 23.98, a price-to-earnings-growth ratio of 2.30 and a beta of 1.02. NIKE, Inc. has a twelve month low of $70.75 and a twelve month high of $123.39.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.16. The company had revenue of $12.60 billion during the quarter, compared to analyst estimates of $12.86 billion. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The firm’s quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.66 EPS. On average, analysts predict that NIKE, Inc. will post 3.04 earnings per share for the current year.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.65%. The ex-dividend date of this dividend is Tuesday, September 3rd. NIKE’s payout ratio is currently 39.68%.

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.