Schmidt P J Investment Management Inc. Cuts Stock Holdings in NIKE, Inc. $NKE

Schmidt P J Investment Management Inc. decreased its position in shares of NIKE, Inc. (NYSE:NKE) by 29.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,138 shares of the footwear maker’s stock after selling 2,165 shares during the quarter. Schmidt P J Investment Management Inc.’s holdings in NIKE were worth $365,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Stone House Investment Management LLC purchased a new stake in shares of NIKE during the first quarter valued at approximately $25,000. Mascoma Wealth Management LLC purchased a new stake in shares of NIKE during the second quarter valued at approximately $26,000. Halbert Hargrove Global Advisors LLC grew its holdings in shares of NIKE by 952.6% during the second quarter. Halbert Hargrove Global Advisors LLC now owns 400 shares of the footwear maker’s stock valued at $28,000 after buying an additional 362 shares during the last quarter. Saudi Central Bank purchased a new stake in shares of NIKE during the first quarter valued at approximately $30,000. Finally, Matrix Trust Co grew its holdings in shares of NIKE by 53.1% during the second quarter. Matrix Trust Co now owns 441 shares of the footwear maker’s stock valued at $31,000 after buying an additional 153 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Stock Down 0.8%

NKE opened at $69.15 on Monday. The company has a current ratio of 2.19, a quick ratio of 1.45 and a debt-to-equity ratio of 0.59. NIKE, Inc. has a 1-year low of $52.28 and a 1-year high of $82.44. The company has a market capitalization of $102.22 billion, a PE ratio of 35.46, a PEG ratio of 2.55 and a beta of 1.29. The firm’s 50 day simple moving average is $72.38 and its two-hundred day simple moving average is $67.94.

NIKE (NYSE:NKE) last released its quarterly 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. NIKE had a net margin of 6.23% and a return on equity of 21.16%. The business had revenue of $11.72 billion for the quarter, compared to the consensus estimate of $10.96 billion. During the same period last year, the firm earned $0.70 earnings per share. The company’s quarterly revenue was up 1.0% on a year-over-year basis. As a group, equities analysts forecast that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

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

Analysts Set New Price Targets

A number of brokerages recently weighed in on NKE. Jefferies Financial Group restated a “buy” rating and set a $115.00 price objective on shares of NIKE in a research report on Monday, September 29th. Zacks Research upgraded shares of NIKE from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 26th. Telsey Advisory Group restated a “market perform” rating and set a $75.00 price objective on shares of NIKE in a research report on Wednesday, October 1st. Sanford C. Bernstein restated a “buy” rating and set a $90.00 price objective on shares of NIKE in a research report on Monday, October 13th. Finally, Barclays set a $70.00 price objective on shares of NIKE and gave the company a “positive” rating in a research report on Wednesday, October 1st. Three analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $82.21.

Insiders Place Their Bets

In other news, EVP Treasure Heinle sold 4,300 shares of the 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 sale, the executive vice president directly owned 29,396 shares of the company’s stock, valued at $2,095,052.92. This represents a 12.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Mark G. Parker sold 86,078 shares of the stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $75.93, for a total transaction of $6,535,902.54. Following the completion of the sale, the chairman directly owned 744,988 shares of the company’s stock, valued at approximately $56,566,938.84. This trade represents a 10.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.80% of the company’s stock.

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.