Strategic Wealth Partners Ltd. Cuts Stock Holdings in NIKE, Inc. (NYSE:NKE)

Strategic Wealth Partners Ltd. cut its stake in shares of NIKE, Inc. (NYSE:NKE) by 93.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,866 shares of the footwear maker’s stock after selling 69,480 shares during the period. Strategic Wealth Partners Ltd.’s holdings in NIKE were worth $430,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its position in NIKE by 0.5% during the first quarter. Vanguard Group Inc. now owns 110,044,821 shares of the footwear maker’s stock valued at $10,342,012,000 after acquiring an additional 501,792 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of NIKE by 87.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 17,135,431 shares of the footwear maker’s stock worth $1,860,395,000 after purchasing an additional 7,996,434 shares during the period. Legal & General Group Plc lifted its stake in shares of NIKE by 5.5% in the 2nd quarter. Legal & General Group Plc now owns 11,049,294 shares of the footwear maker’s stock valued at $832,785,000 after purchasing an additional 571,544 shares in the last quarter. Fisher Asset Management LLC grew its holdings in shares of NIKE by 2.2% during the 4th quarter. Fisher Asset Management LLC now owns 9,880,038 shares of the footwear maker’s stock worth $1,072,676,000 after purchasing an additional 211,360 shares during the period. Finally, Jennison Associates LLC increased 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 purchasing an additional 2,775,510 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction dated 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 completion of the transaction, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at approximately $80,419,507.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the firm’s stock in a transaction dated 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 transaction, the chairman now owns 1,102,090 shares of the company’s stock, valued at $80,419,507.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Mark G. Parker sold 52,487 shares of NIKE stock in a transaction that occurred 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 trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.50% of the stock is owned by corporate insiders.

NIKE Stock Up 2.1 %

NYSE:NKE opened at $82.46 on Thursday. 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 company has a market capitalization of $124.46 billion, a price-to-earnings ratio of 22.11, a price-to-earnings-growth ratio of 2.30 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 stock has a 50-day simple moving average of $81.18 and a 200 day simple moving average of $85.82.

NIKE (NYSE:NKE) last issued its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, topping the consensus estimate of $0.52 by $0.18. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The company had revenue of $11.59 billion during the quarter, compared to analyst estimates of $11.64 billion. During the same quarter last year, the firm earned $0.94 EPS. The business’s revenue was down 10.4% on a year-over-year basis. Sell-side analysts predict that NIKE, Inc. will post 3.04 EPS for the current fiscal year.

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd were paid a dividend of $0.37 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.48 annualized dividend and a yield of 1.79%. NIKE’s payout ratio is 39.68%.

Analyst Upgrades and Downgrades

NKE has been the topic of a number of recent research reports. UBS Group lifted their price target on shares of NIKE from $78.00 to $82.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. Williams Trading upgraded shares of NIKE from a “sell” rating to a “buy” rating and lifted their target price for the company from $67.00 to $93.00 in a report on Friday, August 16th. StockNews.com downgraded NIKE from a “buy” rating to a “hold” rating in a report on Friday, June 21st. Citigroup reduced their price objective on NIKE from $115.00 to $102.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. Finally, JPMorgan Chase & Co. lowered their target price on NIKE from $80.00 to $77.00 and set a “neutral” rating for the company in a research note on Wednesday, October 2nd. 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 MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $96.04.

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.