NIKE, Inc. $NKE Shares Sold by Transcend Capital Advisors LLC

Transcend Capital Advisors LLC reduced its holdings in shares of NIKE, Inc. (NYSE:NKE) by 63.3% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 8,495 shares of the footwear maker’s stock after selling 14,649 shares during the period. Transcend Capital Advisors LLC’s holdings in NIKE were worth $349,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of NKE. Scarborough Advisors LLC purchased a new stake in shares of NIKE in the first quarter valued at about $25,000. Cornerstone Financial Management LLC purchased a new position in shares of NIKE during the fourth quarter worth about $26,000. Sankala Group LLC purchased a new position in shares of NIKE during the fourth quarter worth about $26,000. Meeder Asset Management Inc. increased its position in NIKE by 108.4% in the 1st quarter. Meeder Asset Management Inc. now owns 548 shares of the footwear maker’s stock valued at $29,000 after acquiring an additional 285 shares during the period. Finally, J.Safra Asset Management Corp acquired a new position in NIKE in the 4th quarter valued at about $29,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $40.00 price objective (down from $47.00) on shares of NIKE in a research note on Tuesday, August 4th. Weiss Ratings upgraded NIKE from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday, July 17th. Argus raised NIKE to a “strong-buy” rating in a report on Wednesday, July 15th. Jefferies Financial Group cut their price target on NIKE from $90.00 to $75.00 and set a “buy” rating for the company in a research note on Wednesday, July 1st. Finally, Royal Bank Of Canada reaffirmed a “neutral” rating on shares of NIKE in a report on Wednesday, July 1st. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eighteen have assigned a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $53.53.

Insiders Place Their Bets

In other NIKE news, COO Venkatesh Alagirisamy sold 890 shares of the stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $41.60, for a total value of $37,024.00. Following the completion of the transaction, the chief operating officer owned 74,820 shares in the company, valued at approximately $3,112,512. This represents a 1.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Matthew Friend sold 2,463 shares of the firm’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $41.60, for a total value of $102,460.80. Following the completion of the sale, the chief financial officer directly owned 82,165 shares of the company’s stock, valued at approximately $3,418,064. This trade represents a 2.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 26,142 shares of company stock worth $1,169,380. 1.10% of the stock is owned by insiders.

NIKE Stock Performance

NYSE NKE opened at $40.73 on Friday. The company has a current ratio of 1.96, a quick ratio of 1.36 and a debt-to-equity ratio of 0.40. The business’s 50 day moving average is $42.90 and its two-hundred day moving average is $48.73. NIKE, Inc. has a 12-month low of $40.00 and a 12-month high of $80.17. The stock has a market capitalization of $60.42 billion, a price-to-earnings ratio of 19.49, a PEG ratio of 1.83 and a beta of 1.11.

NIKE (NYSE:NKE) last issued its earnings results on Tuesday, June 30th. The footwear maker reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.09. The business had revenue of $10.97 billion during the quarter, compared to the consensus estimate of $10.85 billion. NIKE had a return on equity of 16.54% and a net margin of 6.70%.The company’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.14 EPS. Research analysts expect that NIKE, Inc. will post 1.74 EPS for the current year.

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 1st will be issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend is Tuesday, September 1st. NIKE’s dividend payout ratio is currently 78.47%.

About NIKE

Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).