GYL Financial Synergies LLC Sells 1,969 Shares of NIKE, Inc. (NYSE:NKE)

GYL Financial Synergies LLC trimmed its holdings in shares of NIKE, Inc. (NYSE:NKE) by 7.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,087 shares of the footwear maker’s stock after selling 1,969 shares during the quarter. GYL Financial Synergies LLC’s holdings in NIKE were worth $1,815,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Annapolis Financial Services LLC grew its position in shares of NIKE by 440.0% during the 1st quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock worth $25,000 after buying an additional 220 shares in the last quarter. True Wealth Design LLC grew its holdings in NIKE by 106.4% during the 4th quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock worth $32,000 after acquiring an additional 150 shares in the last quarter. Frank Rimerman Advisors LLC purchased a new position in NIKE during the 4th quarter valued at about $33,000. Core Wealth Advisors Inc. raised its holdings in shares of NIKE by 408.5% in the 4th 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 in the last quarter. Finally, Gold Investment Management Ltd. bought a new position in shares of NIKE during the fourth quarter valued at approximately $36,000. 64.25% of the stock is currently owned by institutional investors.

NIKE Stock Up 0.5 %

Shares of NKE opened at $83.85 on Friday. The stock’s 50-day moving average price is $79.26 and its 200-day moving average price is $90.42. 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 company has a market capitalization of $126.56 billion, a price-to-earnings ratio of 22.36, a PEG ratio of 1.92 and a beta of 1.01. NIKE, Inc. has a 52 week low of $70.75 and a 52 week high of $123.39.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm posted $0.66 earnings per share. The firm’s quarterly revenue was down 1.6% compared to the same quarter last year. On average, sell-side analysts predict that NIKE, Inc. will post 3.12 EPS for the current year.

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd will be given a dividend of $0.37 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $1.48 dividend on an annualized basis and a yield of 1.77%. NIKE’s dividend payout ratio is currently 39.68%.

Analyst Ratings Changes

NKE has been the subject of a number of recent research reports. BMO Capital Markets reduced their price objective on shares of NIKE from $118.00 to $100.00 and set an “outperform” rating for the company in a research note on Friday, June 28th. KeyCorp reaffirmed a “sector weight” rating on shares of NIKE in a research report on Friday, June 28th. The Goldman Sachs Group decreased their price target on shares of NIKE from $118.00 to $105.00 and set a “buy” rating for the company in a research report on Friday, June 28th. Wells Fargo & Company cut their price objective on shares of NIKE from $115.00 to $92.00 and set an “overweight” rating on the stock in a research report on Friday, June 28th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and set a $83.00 target price (down previously from $116.00) on shares of NIKE in a research report on Friday, June 28th. Fifteen analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $95.93.

Insider Buying and Selling at NIKE

In related news, Director Robert Holmes Swan acquired 2,941 shares of NIKE 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 transaction, the director now owns 20,946 shares of the company’s stock, valued at approximately $1,613,260.92. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Robert Holmes Swan bought 2,941 shares of the business’s stock in a transaction dated Friday, June 28th. The stock was acquired at an average price of $77.02 per share, with a total value of $226,515.82. Following the completion of the purchase, the director now directly owns 20,946 shares of the company’s stock, valued at $1,613,260.92. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Mark G. Parker sold 110,000 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $72.97, for a total value of $8,026,700.00. Following the sale, the chairman now owns 1,102,090 shares of the company’s stock, valued at $80,419,507.30. The disclosure for this sale can be found here. 0.50% of the stock is owned by corporate insiders.

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.