NIKE, Inc. (NYSE:NKE) Shares Sold by StrongBox Wealth LLC

StrongBox Wealth LLC reduced its position in NIKE, Inc. (NYSE:NKEGet Rating) by 25.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,845 shares of the footwear maker’s stock after selling 1,332 shares during the quarter. StrongBox Wealth LLC’s holdings in NIKE were worth $393,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. Evergreen Capital Management LLC lifted its holdings in shares of NIKE by 7.6% in the first quarter. Evergreen Capital Management LLC now owns 104,831 shares of the footwear maker’s stock valued at $14,106,000 after purchasing an additional 7,415 shares in the last quarter. CWM LLC increased its holdings in shares of NIKE by 12.5% in the first quarter. CWM LLC now owns 17,836 shares of the footwear maker’s stock valued at $2,400,000 after purchasing an additional 1,986 shares in the last quarter. Evanson Asset Management LLC increased its holdings in shares of NIKE by 33.3% in the second quarter. Evanson Asset Management LLC now owns 2,403 shares of the footwear maker’s stock valued at $246,000 after purchasing an additional 600 shares in the last quarter. WealthPLAN Partners LLC boosted its stake in NIKE by 4.8% in the first quarter. WealthPLAN Partners LLC now owns 2,747 shares of the footwear maker’s stock valued at $343,000 after acquiring an additional 126 shares during the last quarter. Finally, Executive Wealth Management LLC boosted its position in shares of NIKE by 4.2% during the first quarter. Executive Wealth Management LLC now owns 11,937 shares of the footwear maker’s stock worth $1,606,000 after purchasing an additional 476 shares in the last quarter. 64.19% of the stock is owned by institutional investors.

Insider Activity

In related news, COO Andrew Campion sold 5,922 shares of the stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $113.42, for a total transaction of $671,673.24. Following the sale, the chief operating officer now owns 75,295 shares of the company’s stock, valued at $8,539,958.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, COO Andrew Campion sold 5,922 shares of the firm’s stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $113.42, for a total transaction of $671,673.24. Following the completion of the transaction, the chief operating officer now directly owns 75,295 shares of the company’s stock, valued at approximately $8,539,958.90. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John W. Rogers, Jr. bought 10,000 shares of the stock in a transaction that occurred on Thursday, June 30th. The shares were bought at an average cost of $102.96 per share, with a total value of $1,029,600.00. Following the completion of the transaction, the director now owns 25,681 shares in the company, valued at $2,644,115.76. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 59,561 shares of company stock valued at $6,374,094. 0.40% of the stock is owned by insiders.

NIKE Stock Down 2.2 %

NIKE stock traded down $2.21 during mid-day trading on Friday, hitting $96.34. The company’s stock had a trading volume of 161,601 shares, compared to its average volume of 6,103,385. NIKE, Inc. has a 52-week low of $97.83 and a 52-week high of $179.10. The firm’s 50 day moving average is $109.72 and its 200 day moving average is $115.81. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.63 and a quick ratio of 1.84. The company has a market cap of $151.12 billion, a PE ratio of 26.21, a price-to-earnings-growth ratio of 2.11 and a beta of 1.03.

NIKE (NYSE:NKEGet Rating) last released its earnings results on Monday, June 27th. The footwear maker reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.09. NIKE had a return on equity of 40.74% and a net margin of 12.94%. The company had revenue of $12.20 billion during the quarter, compared to the consensus estimate of $12.10 billion. During the same quarter in the previous year, the company posted $0.93 earnings per share. The firm’s quarterly revenue was down .8% on a year-over-year basis. On average, analysts anticipate that NIKE, Inc. will post 3.78 earnings per share for the current year.

NIKE declared that its board has approved a stock buyback program on Monday, June 27th that permits the company to buyback $18.00 billion in outstanding shares. This buyback authorization permits the footwear maker to reacquire up to 11% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Tuesday, September 6th will be given a $0.305 dividend. This represents a $1.22 annualized dividend and a dividend yield of 1.27%. The ex-dividend date of this dividend is Friday, September 2nd. NIKE’s payout ratio is 32.45%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on NKE. Wedbush reduced their price objective on shares of NIKE from $130.00 to $121.00 in a research note on Friday, September 9th. Telsey Advisory Group dropped their price target on shares of NIKE from $140.00 to $130.00 and set an “outperform” rating for the company in a research note on Tuesday, June 28th. Morgan Stanley lowered their target price on shares of NIKE from $149.00 to $129.00 and set an “overweight” rating for the company in a research note on Thursday. BMO Capital Markets dropped their price target on shares of NIKE from $142.00 to $128.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 28th. Finally, Cowen lowered their price target on shares of NIKE from $127.00 to $124.00 and set an “outperform” rating on the stock in a research report on Monday, September 12th. Eleven research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $131.81.

NIKE Company Profile

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NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells men's, women's, and kids athletic footwear, apparel, equipment, and accessories 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.

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Institutional Ownership by Quarter for NIKE (NYSE:NKE)

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