NIKE, Inc. (NYSE:NKE) Stock Position Lowered by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC lessened its position in NIKE, Inc. (NYSE:NKE) by 30.2% in the 3rd quarter, Holdings Channel reports. The fund owned 14,079 shares of the footwear maker’s stock after selling 6,084 shares during the period. Sequoia Financial Advisors LLC’s holdings in NIKE were worth $1,245,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in NKE. Advisors Asset Management Inc. lifted its position in NIKE by 86.0% in the 1st quarter. Advisors Asset Management Inc. now owns 20,957 shares of the footwear maker’s stock worth $1,970,000 after buying an additional 9,689 shares in the last quarter. FORA Capital LLC bought a new position in shares of NIKE during the 1st quarter valued at $3,412,000. Cetera Advisors LLC raised its holdings in shares of NIKE by 85.5% during the 1st quarter. Cetera Advisors LLC now owns 88,299 shares of the footwear maker’s stock valued at $8,298,000 after purchasing an additional 40,704 shares in the last quarter. Koshinski Asset Management Inc. bought a new position in shares of NIKE during the 1st quarter valued at $713,000. Finally, New Mexico Educational Retirement Board grew its stake in NIKE by 15.7% in the 1st quarter. New Mexico Educational Retirement Board now owns 74,248 shares of the footwear maker’s stock valued at $6,978,000 after buying an additional 10,100 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Stock Down 0.2 %

NKE stock opened at $78.85 on Friday. The stock has a market capitalization of $118.22 billion, a P/E ratio of 22.59, a price-to-earnings-growth ratio of 1.95 and a beta of 1.02. 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, Inc. has a 12 month low of $70.75 and a 12 month high of $123.39. The firm has a 50-day moving average price of $82.79 and a 200-day moving average price of $85.06.

NIKE (NYSE:NKE) last issued 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. The business had revenue of $11.59 billion during the quarter, compared to analyst estimates of $11.64 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The firm’s quarterly revenue was down 10.4% on a year-over-year basis. During the same quarter last year, the business earned $0.94 EPS. As a group, equities research analysts anticipate that NIKE, Inc. will post 2.78 EPS for the current fiscal year.

NIKE Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.48 annualized dividend and a yield of 1.88%. NIKE’s payout ratio is 42.41%.

Insiders Place Their Bets

In other news, Chairman Mark G. Parker sold 52,487 shares of the firm’s stock in a transaction that occurred 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 owns 1,031,226 shares of the company’s stock, valued at $80,435,628. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on NKE. Wedbush lowered 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. BMO Capital Markets decreased their price target on shares of NIKE from $118.00 to $100.00 and set an “outperform” rating on the stock in a research report on Friday, June 28th. HSBC decreased their price target on shares of NIKE from $100.00 to $90.00 and set a “hold” rating on the stock in a research report on Friday, June 28th. Oppenheimer restated an “outperform” rating and issued a $120.00 price target on shares of NIKE in a research report on Friday, June 28th. Finally, Williams Trading upgraded shares of NIKE from a “sell” rating to a “buy” rating and raised their price target for the stock from $67.00 to $93.00 in a research report on Friday, August 16th. Fourteen investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average 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.