Level Four Advisory Services LLC decreased its stake in Nike, Inc. (NYSE:NKE) by 34.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,822 shares of the footwear maker’s stock after selling 3,516 shares during the period. Level Four Advisory Services LLC’s holdings in Nike were worth $375,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of NKE. Accredited Investors Inc. increased its position in shares of Nike by 0.5% in the first quarter. Accredited Investors Inc. now owns 4,167 shares of the footwear maker’s stock valued at $232,000 after buying an additional 19 shares during the last quarter. Montecito Bank & Trust increased its position in shares of Nike by 0.3% in the first quarter. Montecito Bank & Trust now owns 7,200 shares of the footwear maker’s stock valued at $402,000 after buying an additional 24 shares during the last quarter. Intrust Bank NA increased its position in shares of Nike by 0.9% in the first quarter. Intrust Bank NA now owns 5,082 shares of the footwear maker’s stock valued at $283,000 after buying an additional 46 shares during the last quarter. Welch & Forbes LLC increased its position in shares of Nike by 0.5% in the first quarter. Welch & Forbes LLC now owns 9,998 shares of the footwear maker’s stock valued at $557,000 after buying an additional 48 shares during the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. increased its position in shares of Nike by 0.5% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 9,749 shares of the footwear maker’s stock valued at $543,000 after buying an additional 50 shares during the last quarter. 64.77% of the stock is currently owned by institutional investors.

Nike, Inc. (NKE) traded down 0.025% during midday trading on Friday, reaching $59.055. 2,040,106 shares of the company were exchanged. The stock has a market capitalization of $97.04 billion, a price-to-earnings ratio of 23.528 and a beta of 0.59. Nike, Inc. has a 52-week low of $49.01 and a 52-week high of $60.53. The firm’s 50-day moving average price is $57.77 and its 200 day moving average price is $55.57.

Nike (NYSE:NKE) last posted its quarterly earnings results on Thursday, June 29th. The footwear maker reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.10. The business had revenue of $8.68 billion during the quarter, compared to analyst estimates of $8.63 billion. Nike had a net margin of 12.34% and a return on equity of 34.18%. The firm’s revenue was up 5.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.49 earnings per share. Equities analysts predict that Nike, Inc. will post $2.42 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Tuesday, September 5th will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.22%. Nike’s dividend payout ratio (DPR) is 28.69%.

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Several research analysts have issued reports on the stock. Jefferies Group LLC reissued a “buy” rating and set a $75.00 price objective on shares of Nike in a research report on Friday, May 5th. Morgan Stanley reissued an “equal weight” rating and set a $56.00 price objective on shares of Nike in a research report on Wednesday, June 21st. Credit Suisse Group set a $63.00 price objective on shares of Nike and gave the stock a “buy” rating in a research report on Saturday, June 24th. UBS AG reissued a “buy” rating and set a $62.00 price objective (down from $63.00) on shares of Nike in a research report on Tuesday, June 27th. Finally, Nomura reissued a “buy” rating and set a $60.00 price objective on shares of Nike in a research report on Friday, June 30th. Two analysts have rated the stock with a sell rating, sixteen have issued a hold rating and twenty-two have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $61.04.

In other news, insider Trevor A. Edwards sold 200,000 shares of the stock in a transaction that occurred on Wednesday, July 5th. The shares were sold at an average price of $57.63, for a total value of $11,526,000.00. Following the completion of the sale, the insider now directly owns 729,610 shares of the company’s stock, valued at $42,047,424.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Hilary K. Krane sold 28,072 shares of the stock in a transaction that occurred on Friday, July 14th. The stock was sold at an average price of $58.10, for a total transaction of $1,630,983.20. Following the completion of the sale, the chief accounting officer now directly owns 177,723 shares of the company’s stock, valued at $10,325,706.30. The disclosure for this sale can be found here. Insiders sold 492,360 shares of company stock valued at $28,485,174 over the last three months. 3.90% of the stock is owned by insiders.

About Nike

NIKE, Inc is engaged in the design, development, marketing and selling of athletic footwear, apparel, equipment, accessories and services. The Company’s operating segments include North America, Western Europe, Central & Eastern Europe, Greater China, Japan and Emerging Markets. Its portfolio brands include the NIKE Brand, Jordan Brand, Hurley and Converse.

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Institutional Ownership by Quarter for Nike (NYSE:NKE)

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