Searle & CO. Sells 1,200 Shares of NIKE, Inc. (NYSE:NKE)

Searle & CO. reduced its position in shares of NIKE, Inc. (NYSE:NKE) by 9.4% in the third quarter, according to its most recent filing with the SEC. The fund owned 11,593 shares of the footwear maker’s stock after selling 1,200 shares during the quarter. Searle & CO.’s holdings in NIKE were worth $1,025,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of NKE. Ascent Wealth Partners LLC increased its holdings in shares of NIKE by 0.4% in the 1st quarter. Ascent Wealth Partners LLC now owns 28,513 shares of the footwear maker’s stock worth $2,680,000 after buying an additional 115 shares during the last quarter. Condor Capital Management raised its position in NIKE by 0.4% during the first quarter. Condor Capital Management now owns 26,079 shares of the footwear maker’s stock valued at $2,451,000 after purchasing an additional 116 shares during the period. Lodestone Wealth Management LLC raised its position in NIKE by 5.5% during the first quarter. Lodestone Wealth Management LLC now owns 2,248 shares of the footwear maker’s stock valued at $211,000 after purchasing an additional 118 shares during the period. Nvwm LLC lifted its stake in shares of NIKE by 1.0% in the 1st quarter. Nvwm LLC now owns 11,568 shares of the footwear maker’s stock valued at $1,091,000 after purchasing an additional 120 shares during the last quarter. Finally, Stephens Consulting LLC boosted its holdings in shares of NIKE by 20.0% in the 3rd quarter. Stephens Consulting LLC now owns 768 shares of the footwear maker’s stock worth $68,000 after purchasing an additional 128 shares during the period. 64.25% of the stock is owned by hedge funds and other institutional investors.

NIKE Stock Down 1.2 %

NKE traded down $0.99 during trading on Wednesday, hitting $80.43. The stock had a trading volume of 2,096,215 shares, compared to its average volume of 11,613,399. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36. The company has a market capitalization of $121.40 billion, a PE ratio of 21.83, a PEG ratio of 1.96 and a beta of 1.02. NIKE, Inc. has a twelve month low of $70.75 and a twelve month high of $123.39. The stock has a 50 day simple moving average of $82.83 and a two-hundred day simple moving average of $85.14.

NIKE (NYSE:NKE) last released its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.18. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The company had revenue of $11.59 billion during the quarter, compared to analysts’ expectations of $11.64 billion. During the same period last year, the business earned $0.94 EPS. NIKE’s revenue for the quarter was down 10.4% on a year-over-year basis. On average, research analysts predict that NIKE, Inc. will post 2.8 earnings per share for the current year.

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd were issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date was Tuesday, September 3rd. NIKE’s dividend payout ratio is presently 39.68%.

Insider Buying and Selling

In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of NIKE stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the completion of the transaction, the chairman now owns 1,031,226 shares in the company, valued at approximately $80,435,628. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.50% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. JPMorgan Chase & Co. lowered their price target on NIKE from $80.00 to $77.00 and set a “neutral” rating for the company in a research report on Wednesday, October 2nd. Sanford C. Bernstein dropped their price target on shares of NIKE from $112.00 to $109.00 and set an “outperform” rating for the company in a research note on Thursday, September 19th. KeyCorp reissued a “sector weight” rating on shares of NIKE in a research report on Friday, June 28th. Raymond James restated a “market perform” rating on shares of NIKE in a research report on Friday, June 28th. Finally, UBS Group increased their price target on NIKE from $78.00 to $82.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Fourteen research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $96.56.

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.