Stoneridge Investment Partners LLC Sells 25,607 Shares of NIKE, Inc. $NKE

Stoneridge Investment Partners LLC lessened its stake in shares of NIKE, Inc. (NYSE:NKE) by 32.5% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 53,227 shares of the footwear maker’s stock after selling 25,607 shares during the quarter. NIKE comprises 1.4% of Stoneridge Investment Partners LLC’s portfolio, making the stock its 13th largest holding. Stoneridge Investment Partners LLC’s holdings in NIKE were worth $2,220,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of NKE. Cornerstone Financial Management LLC purchased a new position in NIKE during the fourth quarter valued at approximately $26,000. Sankala Group LLC purchased a new stake in NIKE in the 4th quarter worth approximately $26,000. J.Safra Asset Management Corp purchased a new stake in NIKE in the 4th quarter worth approximately $29,000. Kemnay Advisory Services Inc. purchased a new stake in NIKE in the 4th quarter worth approximately $30,000. Finally, Scarborough Advisors LLC bought a new position in NIKE in the 1st quarter valued at $25,000. 64.25% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on NKE shares. Robert W. Baird restated an “outperform” rating and set a $70.00 price target on shares of NIKE in a research report on Wednesday, July 1st. Wells Fargo & Company lowered their price objective on NIKE from $45.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 1st. The Goldman Sachs Group dropped their price objective on NIKE from $46.00 to $42.00 and set a “neutral” rating for the company in a research note on Wednesday, July 1st. Weiss Ratings upgraded NIKE from a “sell (d)” rating to a “sell (d+)” rating in a research report on Friday, July 17th. Finally, DZ Bank restated a “buy” rating on shares of NIKE in a research note on Tuesday, June 30th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eighteen have given a Hold rating and five have given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $53.53.

NIKE Price Performance

NKE stock opened at $40.73 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.96 and a quick ratio of 1.36. NIKE, Inc. has a one year low of $40.00 and a one year high of $80.17. The stock has a market cap of $60.42 billion, a PE ratio of 19.49, a P/E/G ratio of 1.81 and a beta of 1.11. The firm has a 50 day simple moving average of $42.90 and a two-hundred day simple moving average of $48.73.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Tuesday, June 30th. The footwear maker reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.09. The firm had revenue of $10.97 billion for the quarter, compared to analyst estimates of $10.85 billion. NIKE had a net margin of 6.70% and a return on equity of 16.54%. The business’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.14 EPS. On average, analysts predict that NIKE, Inc. will post 1.74 EPS for the current fiscal year.

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 1st will be given a $0.41 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $1.64 annualized dividend and a yield of 4.0%. NIKE’s payout ratio is 78.47%.

Insider Transactions at NIKE

In related news, insider Amy Montagne sold 4,867 shares of the stock in a transaction on Friday, August 7th. The stock was sold at an average price of $42.05, for a total value of $204,657.35. Following the transaction, the insider owned 57,436 shares of the company’s stock, valued at $2,415,183.80. This represents a 7.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Philip Mccartney sold 17,398 shares of the firm’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $46.18, for a total value of $803,439.64. Following the sale, the executive vice president owned 53,133 shares in the company, valued at $2,453,681.94. The trade was a 24.67% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 26,142 shares of company stock worth $1,169,380 in the last three months. Insiders own 1.10% of the company’s stock.

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).