Wendell David Associates Inc. Cuts Stock Holdings in NIKE, Inc. $NKE

Wendell David Associates Inc. trimmed its position in shares of NIKE, Inc. (NYSE:NKE) by 7.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 137,999 shares of the footwear maker’s stock after selling 10,905 shares during the quarter. NIKE accounts for approximately 1.0% of Wendell David Associates Inc.’s portfolio, making the stock its 29th largest holding. Wendell David Associates Inc.’s holdings in NIKE were worth $9,803,000 at the end of the most recent reporting period.

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

NIKE Trading Up 0.9%

Shares of NKE opened at $67.46 on Friday. The business has a 50-day moving average of $73.10 and a 200 day moving average of $67.40. NIKE, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $83.95. The firm has a market cap of $99.72 billion, a P/E ratio of 34.59, a price-to-earnings-growth ratio of 2.48 and a beta of 1.29. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.45 and a current ratio of 2.19.

NIKE (NYSE:NKE) last announced its quarterly earnings data 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. The company had revenue of $11.72 billion during the quarter, compared to analyst estimates of $10.96 billion. NIKE had a return on equity of 21.16% and a net margin of 6.23%.The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.70 EPS. As a group, research analysts forecast that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend was Tuesday, September 2nd. NIKE’s payout ratio is presently 82.05%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on NKE shares. DZ Bank upgraded NIKE from a “hold” rating to a “buy” rating in a research note on Wednesday, October 1st. Bank of America lifted their target price on NIKE from $80.00 to $84.00 and gave the stock a “buy” rating in a research note on Friday, June 27th. Zacks Research upgraded NIKE from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 26th. Argus upgraded NIKE to a “buy” rating in a research note on Sunday, July 6th. Finally, KeyCorp set a $90.00 target price on NIKE and gave the stock an “overweight” rating in a research note on Thursday, October 2nd. Three research analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $82.21.

Insider Transactions at NIKE

In other NIKE news, Chairman Mark G. Parker sold 86,078 shares of NIKE stock in a transaction dated 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 transaction, the chairman owned 744,988 shares of the company’s stock, valued at $56,566,938.84. The trade was a 10.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Treasure Heinle sold 4,300 shares of NIKE stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $71.27, for a total value of $306,461.00. Following the transaction, the executive vice president directly owned 29,396 shares of the company’s stock, valued at $2,095,052.92. The trade was a 12.76% decrease in their position. The disclosure for this sale can be found here. 0.80% of the stock is owned by insiders.

NIKE 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.