NIKE, Inc. $NKE Shares Sold by Manitou Investment Management Ltd.

Manitou Investment Management Ltd. reduced its stake in shares of NIKE, Inc. (NYSE:NKE) by 99.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 890 shares of the footwear maker’s stock after selling 148,828 shares during the quarter. Manitou Investment Management Ltd.’s holdings in NIKE were worth $63,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NKE. Stone House Investment Management LLC acquired a new stake in NIKE during the 1st quarter worth $25,000. Mascoma Wealth Management LLC purchased a new position in NIKE during the 2nd quarter worth $26,000. Halbert Hargrove Global Advisors LLC grew its position in 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 purchased a new position in NIKE during the 1st quarter worth $30,000. Finally, Matrix Trust Co grew its position in NIKE by 53.1% during 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 last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Stock Down 4.1%

Shares of NYSE:NKE opened at $65.25 on Friday. The company has a market cap of $96.45 billion, a price-to-earnings ratio of 33.46, a PEG ratio of 2.38 and a beta of 1.29. The firm’s 50-day simple moving average is $73.80 and its 200-day simple moving average is $67.29. 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, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $84.76.

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

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.5%. NIKE’s payout ratio is currently 82.05%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. UBS Group set a $71.00 price objective on shares of NIKE and gave the stock a “neutral” rating in a research report on Friday, September 19th. Stifel Nicolaus set a $68.00 price objective on shares of NIKE and gave the stock a “hold” rating in a research report on Wednesday, October 1st. Zacks Research raised shares of NIKE from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 26th. The Goldman Sachs Group set a $85.00 price objective on shares of NIKE and gave the stock a “buy” rating in a research report on Thursday, September 25th. Finally, Bank of America lifted their target price on shares of NIKE from $80.00 to $84.00 and gave the company a “buy” rating in a report on Friday, June 27th. Three analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $81.57.

Insider Transactions at NIKE

In related news, Chairman Mark G. Parker sold 86,078 shares of the business’s stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $75.93, for a total transaction of $6,535,902.54. Following the sale, the chairman owned 744,988 shares of the company’s stock, valued at approximately $56,566,938.84. The trade was a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Treasure Heinle sold 4,300 shares of the business’s stock in a transaction dated Monday, October 6th. The stock was sold at an average price of $71.27, for a total transaction of $306,461.00. Following the sale, the executive vice president directly owned 29,396 shares in the company, valued at approximately $2,095,052.92. This represents a 12.76% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 200,378 shares of company stock worth $14,794,264. 0.80% of the stock is owned by insiders.

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.