9258 Wealth Management LLC Lowers Holdings in NIKE, Inc. (NYSE:NKE)

9258 Wealth Management LLC cut its holdings in NIKE, Inc. (NYSE:NKE) by 6.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,142 shares of the footwear maker’s stock after selling 280 shares during the period. 9258 Wealth Management LLC’s holdings in NIKE were worth $312,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in NIKE in the 4th quarter valued at $1,315,097,000. Price T Rowe Associates Inc. MD boosted its stake in NIKE by 87.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 17,135,431 shares of the footwear maker’s stock valued at $1,860,395,000 after buying an additional 7,996,434 shares during the last quarter. Capital International Investors grew its holdings in NIKE by 34.9% during the 4th quarter. Capital International Investors now owns 27,609,613 shares of the footwear maker’s stock valued at $2,997,628,000 after buying an additional 7,143,775 shares in the last quarter. Longview Partners Guernsey LTD purchased a new position in NIKE during the 1st quarter valued at approximately $533,533,000. Finally, Capital World Investors increased its stake in NIKE by 612.2% in the 1st quarter. Capital World Investors now owns 5,185,432 shares of the footwear maker’s stock worth $487,327,000 after acquiring an additional 4,457,376 shares during the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on NKE. Royal Bank of Canada lowered their target price on NIKE from $100.00 to $75.00 and set a “sector perform” rating for the company in a research report on Tuesday, July 2nd. Raymond James reissued a “market perform” rating on shares of NIKE in a research note on Friday, June 28th. UBS Group restated a “neutral” rating and set a $78.00 target price on shares of NIKE in a research report on Friday, June 28th. Wedbush lowered their price target on shares of NIKE from $115.00 to $97.00 and set an “outperform” rating for the company in a report on Friday, June 28th. Finally, BMO Capital Markets reduced their price objective on NIKE from $118.00 to $100.00 and set an “outperform” rating on the stock in a research note on Friday, June 28th. Fifteen investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $95.59.

Insider Activity

In other NIKE news, Director Robert Holmes Swan acquired 2,941 shares of NIKE stock in a transaction that occurred on Friday, June 28th. The stock was bought 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 approximately $1,613,260.92. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Chairman Mark G. Parker sold 52,487 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total value of $4,093,986.00. Following the sale, the chairman now directly owns 1,031,226 shares in the company, valued at approximately $80,435,628. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert Holmes Swan acquired 2,941 shares of the business’s stock in a transaction dated Friday, June 28th. The stock was purchased at an average cost of $77.02 per share, for a total transaction of $226,515.82. Following the transaction, the director now owns 20,946 shares in the company, valued at $1,613,260.92. The disclosure for this purchase can be found here. Insiders own 0.50% of the company’s stock.

NIKE Trading Down 0.2 %

NKE opened at $80.83 on Friday. 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’s fifty day moving average is $76.83 and its two-hundred day moving average is $88.94. The company has a market capitalization of $122.00 billion, a P/E ratio of 21.67, a PEG ratio of 2.19 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 EPS for the quarter, beating the consensus estimate of $0.85 by $0.16. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The firm had revenue of $12.60 billion for the quarter, compared to analyst estimates of $12.86 billion. During the same quarter last year, the firm posted $0.66 earnings per share. The business’s revenue for the quarter was down 1.6% on a year-over-year basis. Analysts forecast that NIKE, Inc. will post 3.1 earnings per share for the current year.

NIKE Dividend Announcement

The firm 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. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.48 annualized dividend and a dividend yield of 1.83%. NIKE’s payout ratio is presently 39.68%.

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.