IMS Capital Management reduced its stake in shares of Nike Inc (NYSE:NKE) by 2.5% in the third quarter, Holdings Channel reports. The fund owned 7,801 shares of the footwear maker’s stock after selling 200 shares during the quarter. IMS Capital Management’s holdings in Nike were worth $733,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. HCR Wealth Advisors grew its position in shares of Nike by 1.8% during the 2nd quarter. HCR Wealth Advisors now owns 13,980 shares of the footwear maker’s stock valued at $1,174,000 after acquiring an additional 250 shares during the period. FMR LLC grew its position in shares of Nike by 27.0% during the 1st quarter. FMR LLC now owns 23,077,703 shares of the footwear maker’s stock valued at $1,943,374,000 after acquiring an additional 4,908,916 shares during the period. Bank of Nova Scotia grew its position in shares of Nike by 25.7% during the 2nd quarter. Bank of Nova Scotia now owns 375,971 shares of the footwear maker’s stock valued at $30,799,000 after acquiring an additional 76,852 shares during the period. Chicago Capital LLC grew its position in shares of Nike by 33.8% during the 2nd quarter. Chicago Capital LLC now owns 14,988 shares of the footwear maker’s stock valued at $1,258,000 after acquiring an additional 3,789 shares during the period. Finally, Whitener Capital Management Inc. grew its position in shares of Nike by 9.3% during the 2nd quarter. Whitener Capital Management Inc. now owns 34,586 shares of the footwear maker’s stock valued at $2,903,000 after acquiring an additional 2,950 shares during the period. 65.04% of the stock is owned by hedge funds and other institutional investors.

In other Nike news, CAO Hilary K. Krane sold 17,903 shares of the stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $88.70, for a total value of $1,587,996.10. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Mark G. Parker sold 165,000 shares of the stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $93.42, for a total transaction of $15,414,300.00. Following the completion of the sale, the chief executive officer now owns 2,054,511 shares in the company, valued at $191,932,417.62. The disclosure for this sale can be found here. Insiders sold a total of 523,482 shares of company stock worth $47,549,976 over the last quarter. Corporate insiders own 3.80% of the company’s stock.

NYSE NKE traded up $0.77 on Wednesday, hitting $92.52. The stock had a trading volume of 4,647,981 shares, compared to its average volume of 6,478,079. Nike Inc has a 52-week low of $66.53 and a 52-week high of $94.75. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.29 and a current ratio of 2.01. The company has a market capitalization of $145.83 billion, a price-to-earnings ratio of 37.16, a price-to-earnings-growth ratio of 2.47 and a beta of 0.85. The firm has a 50-day moving average of $87.59 and a 200-day moving average of $85.26.

Nike (NYSE:NKE) last posted its earnings results on Tuesday, September 24th. The footwear maker reported $0.86 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.15. Nike had a net margin of 10.81% and a return on equity of 47.92%. The business had revenue of $10.66 billion for the quarter, compared to analysts’ expectations of $10.43 billion. During the same period in the prior year, the company posted $0.67 EPS. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. As a group, research analysts anticipate that Nike Inc will post 2.97 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd were paid a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 0.95%. The ex-dividend date of this dividend was Friday, August 30th. Nike’s dividend payout ratio is presently 35.34%.

NKE has been the subject of a number of research reports. Goldman Sachs Group set a $95.00 target price on shares of Nike and gave the company a “neutral” rating in a research report on Wednesday, September 25th. Jefferies Financial Group raised their price objective on shares of Nike from $80.00 to $97.00 and gave the stock a “hold” rating in a report on Wednesday, September 25th. Morgan Stanley raised their price objective on shares of Nike from $103.00 to $108.00 and gave the stock an “overweight” rating in a report on Tuesday, August 6th. BNP Paribas initiated coverage on shares of Nike in a report on Thursday, October 3rd. They issued an “underperform” rating and a $82.50 price objective for the company. Finally, Wells Fargo & Co raised their price objective on shares of Nike from $85.00 to $91.00 and gave the stock a “market perform” rating in a report on Wednesday, September 25th. They noted that the move was a valuation call. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $95.14.

Nike Profile

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories: running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, lacrosse, skateboarding, tennis, volleyball, wrestling, walking, and outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.

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Institutional Ownership by Quarter for Nike (NYSE:NKE)

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