NIKE, Inc. (NYSE:NKE) Shares Sold by Smithbridge Asset Management Inc. DE

Smithbridge Asset Management Inc. DE reduced its holdings in NIKE, Inc. (NYSE:NKE) by 5.0% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 45,923 shares of the footwear maker’s stock after selling 2,438 shares during the quarter. Smithbridge Asset Management Inc. DE’s holdings in NIKE were worth $3,461,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of NKE. Annapolis Financial Services LLC boosted its holdings in shares of NIKE by 440.0% during the first quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock valued at $25,000 after acquiring an additional 220 shares during the period. True Wealth Design LLC grew its position in NIKE by 106.4% in the 4th quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock worth $32,000 after purchasing an additional 150 shares during the last quarter. Core Wealth Advisors Inc. increased its stake in shares of NIKE by 408.5% in the fourth quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock valued at $33,000 after purchasing an additional 241 shares during the period. Frank Rimerman Advisors LLC bought a new stake in shares of NIKE during the fourth quarter valued at approximately $33,000. Finally, Gold Investment Management Ltd. acquired a new position in shares of NIKE during the fourth quarter worth approximately $36,000. 64.25% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at NIKE

In other news, Director Robert Holmes Swan purchased 2,941 shares of the firm’s stock in a transaction on Friday, June 28th. The stock was bought at an average cost of $77.02 per share, for a total transaction of $226,515.82. Following the completion of the acquisition, the director now directly owns 20,946 shares of the company’s stock, valued at $1,613,260.92. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Chairman Mark G. Parker sold 110,000 shares of the company’s stock in a transaction on 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 completion of the transaction, 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 filing with the SEC, which is available through the SEC website. Also, Director Robert Holmes Swan purchased 2,941 shares of the firm’s stock in a transaction on Friday, June 28th. The stock was bought at an average price of $77.02 per share, for a total transaction of $226,515.82. Following the completion of the transaction, the director now directly owns 20,946 shares in the company, valued at $1,613,260.92. The disclosure for this purchase can be found here. 0.50% of the stock is owned by corporate insiders.

NIKE Stock Up 0.9 %

Shares of NKE traded up $0.73 during midday trading on Friday, reaching $83.23. 13,794,181 shares of the stock were exchanged, compared to its average volume of 11,563,057. The company has a market cap of $125.62 billion, a price-to-earnings ratio of 22.31, a P/E/G ratio of 1.92 and a beta of 1.01. The firm has a 50 day simple moving average of $80.17 and a 200-day simple moving average of $90.84. NIKE, Inc. has a 12-month low of $70.75 and a 12-month high of $123.39. The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.55.

NIKE (NYSE:NKE) last posted its earnings results on Thursday, June 27th. The footwear maker reported $1.01 EPS 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 firm had revenue of $12.60 billion for the quarter, compared to the consensus estimate of $12.86 billion. During the same period in the prior year, the business posted $0.66 earnings per share. The business’s quarterly revenue was down 1.6% on a year-over-year basis. Research analysts forecast that NIKE, Inc. will post 3.12 EPS for the current year.

NIKE Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be given 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 is 39.68%.

Wall Street Analysts Forecast Growth

NKE has been the topic of several analyst reports. Telsey Advisory Group lowered their target price on NIKE from $115.00 to $100.00 and set an “outperform” rating on the stock in a research report on Friday, June 28th. Raymond James reaffirmed a “market perform” rating on shares of NIKE in a research note on Friday, June 28th. TD Cowen lowered their price objective on shares of NIKE from $75.00 to $71.00 and set a “hold” rating on the stock in a research note on Thursday, July 25th. Wells Fargo & Company cut their target price on NIKE from $115.00 to $92.00 and set an “overweight” rating for the company in a research report on Friday, June 28th. Finally, Evercore ISI lowered their price target on NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a research report on Friday, June 28th. Fifteen analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $96.59.

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.