NIKE, Inc. (NYSE:NKE) Shares Sold by Aveo Capital Partners LLC

Key Points

• Aveo Capital Partners LLC reduced its holdings in NIKE by 45.7%, now owning 13,312 shares, valued at $780,000, after selling 11,182 shares in the first quarter.
• Goldman Sachs Group Inc. significantly increased its stake in NIKE by 344.2%, owning over 26.6 million shares valued at approximately $1.69 billion.
• NIKE announced a quarterly dividend of $0.40 per share, with a payout ratio of 74.07%, set to be paid on October 1st to stockholders of record on September 2nd.

Aveo Capital Partners LLC trimmed its position in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 45.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,312 shares of the footwear maker's stock after selling 11,182 shares during the period. Aveo Capital Partners LLC's holdings in NIKE were worth $780,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the company. Heck Capital Advisors LLC purchased a new stake in NIKE in the 4th quarter valued at about $28,000. Roxbury Financial LLC boosted its position in NIKE by 52.1% in the 1st quarter. Roxbury Financial LLC now owns 587 shares of the footwear maker's stock valued at $37,000 after buying an additional 201 shares during the period. N.E.W. Advisory Services LLC purchased a new stake in shares of NIKE in the 1st quarter worth approximately $37,000. Putney Financial Group LLC purchased a new stake in shares of NIKE in the 4th quarter worth approximately $40,000. Finally, Minot DeBlois Advisors LLC purchased a new stake in shares of NIKE in the 4th quarter worth approximately $42,000. 64.25% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

NKE has been the subject of several research reports. Hsbc Global Res raised shares of NIKE from a "hold" rating to a "strong-buy" rating in a research report on Friday, June 27th. Royal Bank Of Canada lowered their price target on shares of NIKE from $66.00 to $65.00 and set a "sector perform" rating for the company in a research report on Tuesday, May 20th. Barclays upped their price target on shares of NIKE from $53.00 to $64.00 and gave the stock an "equal weight" rating in a research report on Friday, June 27th. Telsey Advisory Group reaffirmed a "market perform" rating and issued a $70.00 price target on shares of NIKE in a research report on Friday, June 27th. Finally, Needham & Company LLC upped their price target on shares of NIKE from $66.00 to $78.00 and gave the stock a "buy" rating in a research report on Friday, June 27th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $78.22.

NIKE Stock Performance

Shares of NYSE:NKE traded up $0.89 during midday trading on Tuesday, reaching $74.91. The company's stock had a trading volume of 6,397,175 shares, compared to its average volume of 10,926,941. The firm has a market capitalization of $110.63 billion, a PE ratio of 34.68, a P/E/G ratio of 2.69 and a beta of 1.27. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $90.62. The stock has a fifty day moving average of $70.20 and a 200 day moving average of $67.60. The company has a quick ratio of 1.50, a current ratio of 2.21 and a debt-to-equity ratio of 0.60.

NIKE (NYSE:NKE - Get Free Report) last released its quarterly earnings data on Thursday, June 26th. The footwear maker reported $0.14 earnings per share for the quarter, topping analysts' consensus estimates of $0.12 by $0.02. The firm had revenue of $11.10 billion for the quarter, compared to analyst estimates of $10.69 billion. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The business's quarterly revenue was down 11.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.99 earnings per share. On average, equities analysts expect that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd will be paid a $0.40 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.1%. NIKE's dividend payout ratio is presently 74.07%.

Insider Buying and Selling at NIKE

In related news, Chairman Mark G. Parker sold 110,000 shares of the stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $72.29, for a total transaction of $7,951,900.00. Following the sale, the chairman directly owned 842,361 shares of the company's stock, valued at approximately $60,894,276.69. This represents a 11.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 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.