Autumn Glory Partners LLC Decreases Stake in NIKE, Inc. $NKE

Key Points

• Autumn Glory Partners LLC has reduced its stake in NIKE, Inc. by 42.4%, now holding 13,027 shares worth approximately $925,000.
• NIKE's quarterly earnings exceeded expectations, reporting $0.49 EPS and $11.72 billion in revenue, a 1.0% increase year-over-year.
• The company recently declared a quarterly dividend of $0.40, yielding about 2.2%, with a payout ratio of 82.05%.

Autumn Glory Partners LLC decreased its position in NIKE, Inc. (NYSE:NKE - Free Report) by 42.4% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 13,027 shares of the footwear maker's stock after selling 9,598 shares during the period. Autumn Glory Partners LLC's holdings in NIKE were worth $925,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Stone House Investment Management LLC bought a new position in shares of NIKE during the 1st quarter valued at approximately $25,000. Mascoma Wealth Management LLC bought a new position in shares of NIKE during the 2nd quarter valued at approximately $26,000. Halbert Hargrove Global Advisors LLC grew its position 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 valued at $28,000 after acquiring an additional 362 shares during the period. Saudi Central Bank bought a new position in shares of NIKE during the 1st quarter valued at approximately $30,000. Finally, Matrix Trust Co grew its position in shares of NIKE by 53.1% during the 2nd quarter. Matrix Trust Co now owns 441 shares of the footwear maker's stock valued at $31,000 after acquiring an additional 153 shares during the period. Hedge funds and other institutional investors own 64.25% of the company's stock.

NIKE Stock Down 3.4%

NKE opened at $72.01 on Monday. The company has a 50 day moving average of $74.62 and a 200 day moving average of $67.24. The company has a market cap of $106.34 billion, a PE ratio of 36.93, a price-to-earnings-growth ratio of 2.64 and a beta of 1.29. NIKE, Inc. has a 12 month low of $52.28 and a 12 month high of $84.76. 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 (NYSE:NKE - Get Free Report) last announced its quarterly earnings results on Tuesday, September 30th. The footwear maker reported $0.49 EPS for the quarter, beating 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 firm had revenue of $11.72 billion during the quarter, compared to the consensus estimate of $10.96 billion. During the same period last year, the firm earned $0.70 EPS. The business's quarterly revenue was up 1.0% compared to the same quarter last year. On average, sell-side analysts expect that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend was Tuesday, September 2nd. NIKE's dividend payout ratio (DPR) is presently 82.05%.

Insider Buying and Selling

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the firm's stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $72.29, for a total value of $7,951,900.00. Following the completion of the transaction, the chairman directly owned 842,361 shares of the company's stock, valued at $60,894,276.69. This trade represents a 11.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.80% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on NKE. Evercore ISI reduced their target price on shares of NIKE from $97.00 to $75.00 and set an "outperform" rating for the company in a research report on Tuesday, June 24th. Hsbc Global Res raised shares of NIKE from a "hold" rating to a "strong-buy" rating in a research report on Friday, June 27th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of NIKE from $77.00 to $71.00 and set a "buy" rating for the company in a research report on Friday, June 20th. Zacks Research raised shares of NIKE from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 26th. Finally, Citigroup raised shares of NIKE from a "neutral" rating to a "positive" rating in a research report on Friday, September 19th. Three analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, NIKE presently has a consensus rating of "Moderate Buy" and a consensus target price of $81.57.

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.

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