Strs Ohio Sells 12,474 Shares of NIKE, Inc. $NKE

Strs Ohio cut its stake in NIKE, Inc. (NYSE:NKE) by 4.1% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 289,719 shares of the footwear maker’s stock after selling 12,474 shares during the quarter. Strs Ohio’s holdings in NIKE were worth $15,303,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Mitchell & Pahl Private Wealth LLC grew its holdings in shares of NIKE by 24.3% during the 1st quarter. Mitchell & Pahl Private Wealth LLC now owns 28,343 shares of the footwear maker’s stock worth $1,497,000 after acquiring an additional 5,547 shares during the period. CHICAGO TRUST Co NA raised its position in shares of NIKE by 20.9% in the 1st quarter. CHICAGO TRUST Co NA now owns 5,025 shares of the footwear maker’s stock worth $265,000 after acquiring an additional 868 shares in the last quarter. Lindsell Train Ltd lifted its stake in shares of NIKE by 2.0% in the 1st quarter. Lindsell Train Ltd now owns 20,800 shares of the footwear maker’s stock valued at $1,099,000 after purchasing an additional 400 shares during the period. Whelan Financial lifted its stake in shares of NIKE by 13.0% in the 1st quarter. Whelan Financial now owns 11,923 shares of the footwear maker’s stock valued at $630,000 after purchasing an additional 1,369 shares during the period. Finally, USS Investment Management Ltd lifted its stake in shares of NIKE by 5.4% in the 1st quarter. USS Investment Management Ltd now owns 220,237 shares of the footwear maker’s stock valued at $11,636,000 after purchasing an additional 11,227 shares during the period. 64.25% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

NKE has been the topic of several recent research reports. Oppenheimer reduced their price target on NIKE to $60.00 and set an “outperform” rating on the stock in a research note on Friday, June 26th. Stifel Nicolaus set a $45.00 price objective on NIKE and gave the company a “hold” rating in a research report on Wednesday. DA Davidson cut shares of NIKE from a “buy” rating to a “neutral” rating and dropped their target price for the company from $72.00 to $46.00 in a report on Thursday, April 2nd. HSBC cut shares of NIKE from a “buy” rating to a “hold” rating and dropped their target price for the company from $90.00 to $48.00 in a report on Monday, April 13th. Finally, China Renaissance reduced their target price on shares of NIKE from $74.60 to $50.30 and set a “hold” rating on the stock in a research report on Thursday, April 2nd. Fourteen research analysts have rated the stock with a Buy rating, nineteen have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $55.42.

NIKE Stock Performance

NIKE stock opened at $44.12 on Friday. The company has a quick ratio of 1.45, a current ratio of 1.96 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $65.34 billion, a P/E ratio of 21.11, a PEG ratio of 2.49 and a beta of 1.12. The stock’s 50 day moving average is $43.86 and its 200 day moving average is $53.16. NIKE, Inc. has a twelve month low of $40.00 and a twelve month high of $80.17.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Tuesday, June 30th. The footwear maker reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.09. NIKE had a return on equity of 16.54% and a net margin of 6.70%.The business had revenue of $10.97 billion during the quarter, compared to analysts’ expectations of $10.85 billion. During the same quarter in the previous year, the business earned $0.14 earnings per share. The firm’s quarterly revenue was down 1.1% compared to the same quarter last year. On average, equities research analysts predict that NIKE, Inc. will post 1.8 earnings per share for the current fiscal year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st were issued a dividend of $0.41 per share. The ex-dividend date was Monday, June 1st. This represents a $1.64 annualized dividend and a dividend yield of 3.7%. NIKE’s dividend payout ratio (DPR) is presently 78.47%.

Trending Headlines about NIKE

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: NIKE’s fiscal Q4 results beat analyst expectations, with revenue and EPS coming in ahead of forecasts, which has helped support the shares and reinforced hopes that the turnaround is starting to take hold. Stock Market Today, July 1: Nike Jumps After Quarterly Results Beat Analyst Estimates
• Positive Sentiment: Several commentaries argue the recent selloff may have gone too far, with some analysts and market watchers calling NIKE a rebound candidate after a difficult year. Prediction: Nike Stock Set for 25% Rebound After Brutal Year
• Neutral Sentiment: Reports highlight that NIKE’s digital sales fell while the company continues shifting its mix between direct-to-consumer and wholesale channels, suggesting the turnaround is still incomplete. Nike Digital Drops 12% as Brands Rebalance D2C and Wholesale
• Negative Sentiment: Barclays reportedly cut its price target on NIKE, signaling lower near-term expectations from one of the long-time bullish banks on the name. Barclays cuts Nike stock price target from $67 to $52
• Negative Sentiment: 7-Eleven filed a trademark lawsuit accusing NIKE of copying branding elements in an upcoming Air Max 95 design, adding legal overhang and potential distraction for the company. 7-Eleven sues Nike over alleged Air Max 95 design infringing brand colors

Insider Transactions at NIKE

In other news, EVP Philip Mccartney sold 17,398 shares of NIKE stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $46.18, for a total value of $803,439.64. Following the completion of the transaction, the executive vice president owned 53,133 shares of the company’s stock, valued at $2,453,681.94. The trade was a 24.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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. Also, Director John W. Rogers, Jr. purchased 4,000 shares of the company’s stock in a transaction that occurred on Thursday, April 9th. The stock was purchased at an average price of $43.34 per share, for a total transaction of $173,360.00. Following the purchase, the director owned 41,022 shares in the company, valued at $1,777,893.48. This represents a 10.80% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought 64,441 shares of company stock worth $2,734,204 over the last quarter. Corporate insiders own 0.80% of the company’s stock.

NIKE Company Profile

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).