Intelligent Financial Strategies Reduces Holdings in NIKE, Inc. $NKE

Intelligent Financial Strategies decreased its holdings in shares of NIKE, Inc. (NYSE:NKE) by 48.3% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 1,165 shares of the footwear maker’s stock after selling 1,089 shares during the period. Intelligent Financial Strategies’ holdings in NIKE were worth $83,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Brighton Jones LLC boosted its position in NIKE by 388.5% in the fourth quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker’s stock valued at $15,316,000 after buying an additional 160,980 shares during the last quarter. GAMMA Investing LLC boosted its position in NIKE by 39.1% in the first quarter. GAMMA Investing LLC now owns 20,877 shares of the footwear maker’s stock valued at $1,325,000 after buying an additional 5,863 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in NIKE by 9.7% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 122,092 shares of the footwear maker’s stock valued at $7,750,000 after buying an additional 10,823 shares during the last quarter. International Assets Investment Management LLC boosted its position in NIKE by 66.0% in the first quarter. International Assets Investment Management LLC now owns 11,532 shares of the footwear maker’s stock valued at $732,000 after buying an additional 4,585 shares during the last quarter. Finally, Strategic Investment Advisors MI boosted its position in NIKE by 17.2% in the first quarter. Strategic Investment Advisors MI now owns 3,741 shares of the footwear maker’s stock valued at $237,000 after buying an additional 550 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Trading Up 0.9%

Shares of NKE stock opened at $69.68 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.19 and a quick ratio of 1.45. The company has a market cap of $103.00 billion, a price-to-earnings ratio of 35.73, a PEG ratio of 2.55 and a beta of 1.29. The stock has a 50 day simple moving average of $72.54 and a 200-day simple moving average of $67.67. NIKE, Inc. has a 1-year low of $52.28 and a 1-year high of $82.44.

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

NIKE Announces Dividend

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

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Argus upgraded NIKE to a “buy” rating in a research report on Sunday, July 6th. Weiss Ratings upgraded NIKE from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, October 8th. Cowen upgraded NIKE from a “hold” rating to a “buy” rating in a research report on Wednesday, September 10th. Zacks Research upgraded NIKE from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 26th. Finally, KeyCorp set a $90.00 price objective on NIKE and gave the stock an “overweight” rating in a research report on Thursday, October 2nd. Three investment analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, NIKE presently has an average rating of “Moderate Buy” and an average price target of $82.21.

Insiders Place Their Bets

In other NIKE news, Chairman Mark G. Parker sold 86,078 shares of the firm’s stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $75.93, for a total value of $6,535,902.54. Following the transaction, the chairman owned 744,988 shares in the company, valued at approximately $56,566,938.84. This trade represents a 10.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Treasure Heinle sold 4,300 shares of the firm’s stock in a transaction on Monday, October 6th. The shares were 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. The trade was a 12.76% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.80% of the company’s stock.

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.