Wedmont Private Capital Lowers Stock Position in NIKE, Inc. (NYSE:NKE)

Wedmont Private Capital lessened its holdings in NIKE, Inc. (NYSE:NKE) by 25.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,529 shares of the footwear maker’s stock after selling 1,556 shares during the quarter. Wedmont Private Capital’s holdings in NIKE were worth $366,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in NKE. Longview Partners Guernsey LTD purchased a new stake in NIKE in the 1st quarter valued at approximately $533,533,000. Capital World Investors lifted its position in shares of NIKE by 612.2% during the 1st quarter. Capital World Investors now owns 5,185,432 shares of the footwear maker’s stock valued at $487,327,000 after acquiring an additional 4,457,376 shares during the period. Jennison Associates LLC lifted its position in shares of NIKE by 45.6% during the 1st quarter. Jennison Associates LLC now owns 8,859,580 shares of the footwear maker’s stock valued at $832,623,000 after acquiring an additional 2,775,510 shares during the period. PineStone Asset Management Inc. lifted its position in shares of 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 during the period. Finally, Renaissance Technologies LLC lifted its position in shares of NIKE by 351.7% during the 2nd quarter. Renaissance Technologies LLC now owns 1,991,519 shares of the footwear maker’s stock valued at $150,101,000 after acquiring an additional 1,550,611 shares during the period. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Insider Buying and Selling

In related news, 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 of the company’s stock, valued at approximately $80,435,628. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other NIKE 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 transaction, the chairman now owns 1,102,090 shares in the company, valued at $80,419,507.30. The trade was a 0.00 % decrease in their position. 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 business’s stock in a transaction 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 represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.50% of the stock is owned by corporate insiders.

NIKE Stock Up 0.1 %

Shares of NYSE NKE opened at $82.15 on Friday. NIKE, Inc. has a 52-week low of $70.75 and a 52-week high of $123.39. The firm has a fifty day moving average of $81.66 and a 200-day moving average of $85.64. The stock has a market capitalization of $123.99 billion, a PE ratio of 22.02, a P/E/G ratio of 1.96 and a beta of 1.02. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, topping 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 firm had revenue of $11.59 billion during the quarter, compared to analysts’ expectations of $11.64 billion. During the same period in the prior year, the company earned $0.94 EPS. The firm’s revenue was down 10.4% on a year-over-year basis. On average, analysts anticipate that NIKE, Inc. will post 2.8 EPS for the current year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd were given a dividend of $0.37 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $1.48 dividend on an annualized basis and a yield of 1.80%. NIKE’s dividend payout ratio (DPR) is 39.68%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on NKE. 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. Stifel Nicolaus reduced their price target on shares of NIKE from $88.00 to $79.00 and set a “hold” rating for the company in a research report on Monday, August 26th. Raymond James restated a “market perform” rating on shares of NIKE in a research report on Friday, June 28th. Evercore ISI cut their price objective on NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a research report on Wednesday, October 2nd. Finally, Bank of America cut their price objective on NIKE from $104.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, October 2nd. Fourteen research analysts have rated the stock with a hold rating and sixteen have assigned 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 a consensus target price of $96.56.

NIKE 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.