BIP Wealth LLC Cuts Stock Position in NIKE, Inc. $NKE

BIP Wealth LLC cut its holdings in shares of NIKE, Inc. (NYSE:NKE) by 26.1% in the 2nd quarter, HoldingsChannel reports. The firm owned 4,210 shares of the footwear maker’s stock after selling 1,485 shares during the quarter. BIP Wealth LLC’s holdings in NIKE were worth $299,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Stone House Investment Management LLC bought a new position in NIKE during the first quarter valued at about $25,000. Mascoma Wealth Management LLC bought a new position in shares of NIKE during the 2nd quarter valued at approximately $26,000. Halbert Hargrove Global Advisors LLC increased its stake in shares of NIKE by 952.6% during the 2nd quarter. Halbert Hargrove Global Advisors LLC now owns 400 shares of the footwear maker’s stock worth $28,000 after purchasing an additional 362 shares during the last quarter. Saudi Central Bank bought a new stake in shares of NIKE in the 1st quarter worth approximately $30,000. Finally, Matrix Trust Co raised its holdings in shares of NIKE by 53.1% in the 2nd quarter. Matrix Trust Co now owns 441 shares of the footwear maker’s stock worth $31,000 after purchasing an additional 153 shares during the period. 64.25% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Chairman Mark G. Parker sold 86,078 shares of NIKE stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $75.93, for a total transaction of $6,535,902.54. Following the completion of the sale, the chairman owned 744,988 shares of the company’s stock, valued at approximately $56,566,938.84. This trade represents a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Treasure Heinle sold 4,300 shares of the company’s stock in a transaction dated Monday, October 6th. The stock was sold at an average price of $71.27, for a total value of $306,461.00. Following the completion of the transaction, the executive vice president owned 29,396 shares in the company, valued at $2,095,052.92. This represents a 12.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.80% of the stock is owned by insiders.

NIKE Stock Down 0.8%

NKE stock opened at $69.15 on Friday. The stock has a 50-day simple moving average of $72.38 and a two-hundred day simple moving average of $67.88. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $82.44. The firm has a market capitalization of $102.22 billion, a PE ratio of 35.46, a PEG ratio of 2.55 and a beta of 1.29. The company has a quick ratio of 1.45, a current ratio of 2.19 and a debt-to-equity ratio of 0.59.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.22. NIKE had a net margin of 6.23% and a return on equity of 21.16%. The firm had revenue of $11.72 billion for the quarter, compared to the consensus estimate of $10.96 billion. During the same period in the prior year, the firm posted $0.70 earnings per share. The company’s revenue for the quarter was up 1.0% on a year-over-year basis. On average, equities analysts predict that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Tuesday, September 2nd. NIKE’s dividend payout ratio (DPR) is presently 82.05%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Argus raised NIKE to a “buy” rating in a report on Sunday, July 6th. KeyCorp set a $90.00 price target on NIKE and gave the stock an “overweight” rating in a research note on Thursday, October 2nd. Royal Bank Of Canada reissued an “outperform” rating on shares of NIKE in a report on Friday, October 10th. TD Cowen raised shares of NIKE from a “hold” rating to a “buy” rating and upped their price objective for the company from $62.00 to $85.00 in a report on Wednesday, September 10th. Finally, Cowen upgraded shares of NIKE from a “hold” rating to a “buy” rating in a research report on Wednesday, September 10th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, NIKE has an average rating of “Moderate Buy” and a consensus price target of $82.21.

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.