Baker Tilly Wealth Management LLC Has $429,000 Stock Position in NIKE, Inc. (NYSE:NKE)

Baker Tilly Wealth Management LLC cut its holdings in shares of NIKE, Inc. (NYSE:NKE) by 78.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,691 shares of the footwear maker’s stock after selling 20,268 shares during the quarter. Baker Tilly Wealth Management LLC’s holdings in NIKE were worth $429,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of NKE. Sawgrass Asset Management LLC boosted its holdings in NIKE by 612.9% in the second quarter. Sawgrass Asset Management LLC now owns 102,743 shares of the footwear maker’s stock worth $7,744,000 after purchasing an additional 88,332 shares in the last quarter. Dash Acquisitions Inc. increased its holdings in shares of NIKE by 17.4% during the 2nd quarter. Dash Acquisitions Inc. now owns 24,852 shares of the footwear maker’s stock valued at $1,816,000 after acquiring an additional 3,688 shares during the last quarter. Miracle Mile Advisors LLC raised its stake in shares of NIKE by 3.6% in the 2nd quarter. Miracle Mile Advisors LLC now owns 58,318 shares of the footwear maker’s stock valued at $4,395,000 after acquiring an additional 2,028 shares in the last quarter. Naples Global Advisors LLC lifted its holdings in NIKE by 9.4% in the 2nd quarter. Naples Global Advisors LLC now owns 6,959 shares of the footwear maker’s stock worth $527,000 after purchasing an additional 600 shares during the last quarter. Finally, Cordatus Wealth Management LLC bought a new stake in NIKE during the second quarter worth approximately $2,618,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Price Performance

NYSE:NKE traded up $0.73 during trading hours on Friday, reaching $83.23. The company had a trading volume of 13,794,181 shares, compared to its average volume of 11,563,057. The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.55. The stock has a 50-day moving average of $80.17 and a two-hundred day moving average of $90.93. NIKE, Inc. has a one year low of $70.75 and a one year high of $123.39. The firm has a market capitalization of $125.62 billion, a PE ratio of 22.32, a PEG ratio of 1.92 and a beta of 1.01.

NIKE (NYSE:NKE) last posted its earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.16. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The business had revenue of $12.60 billion for the quarter, compared to analyst estimates of $12.86 billion. During the same quarter in the prior year, the firm earned $0.66 EPS. The firm’s quarterly revenue was down 1.6% compared to the same quarter last year. Analysts forecast that NIKE, Inc. will post 3.12 earnings per share for the current year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date is Tuesday, September 3rd. NIKE’s dividend payout ratio (DPR) is currently 39.68%.

Insider Transactions at NIKE

In other news, Chairman Mark G. Parker sold 110,000 shares of the stock in a transaction 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 in the company, valued at $80,419,507.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Robert Holmes Swan acquired 2,941 shares of NIKE stock in a transaction on Friday, June 28th. The shares were purchased at an average price of $77.02 per share, with a total value of $226,515.82. Following the acquisition, the director now owns 20,946 shares in the company, valued at $1,613,260.92. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Chairman Mark G. Parker sold 110,000 shares of the 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 completion of the transaction, the chairman now owns 1,102,090 shares in the company, valued at $80,419,507.30. The disclosure for this sale can be found here. 0.50% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

NKE has been the subject of a number of analyst reports. KeyCorp restated a “sector weight” rating on shares of NIKE in a research note on Friday, June 28th. BMO Capital Markets lowered their price target on NIKE from $118.00 to $100.00 and set an “outperform” rating on the stock in a research report on Friday, June 28th. Citigroup dropped 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. Morgan Stanley restated an “equal weight” rating and set a $79.00 target price (down previously from $114.00) on shares of NIKE in a research note on Friday, June 28th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $88.00 price target (down from $117.00) on shares of NIKE in a research report on Friday, June 28th. Fifteen investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, NIKE presently has a consensus rating of “Moderate Buy” and an average target price of $96.59.

NIKE Company 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.