Bar Harbor Wealth Management Sells 81,996 Shares of NIKE, Inc. $NKE

Key Points

• Bar Harbor Wealth Management significantly reduced its stake in NIKE, Inc. by 88.3%, selling 81,996 shares and holding only 10,867 shares valued at $772,000 at the end of the last reporting period.
• NIKE's latest quarterly earnings surpassed expectations, reporting $0.49 EPS against a consensus estimate of $0.27, with revenues of $11.72 billion compared to the expected $10.96 billion.
• The company announced a quarterly dividend of $0.40 per share, resulting in an annualized yield of 2.3%, with a payout ratio of 82.05%.

Bar Harbor Wealth Management lessened its stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 88.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,867 shares of the footwear maker's stock after selling 81,996 shares during the quarter. Bar Harbor Wealth Management's holdings in NIKE were worth $772,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of NKE. Brighton Jones LLC raised its position in NIKE by 388.5% in the 4th quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker's stock valued at $15,316,000 after purchasing an additional 160,980 shares during the last quarter. Park Avenue Securities LLC raised its position in NIKE by 12.1% in the 1st quarter. Park Avenue Securities LLC now owns 16,705 shares of the footwear maker's stock valued at $1,060,000 after purchasing an additional 1,806 shares during the last quarter. Harbor Capital Advisors Inc. raised its position in NIKE by 32.1% in the 1st quarter. Harbor Capital Advisors Inc. now owns 21,766 shares of the footwear maker's stock valued at $1,382,000 after purchasing an additional 5,291 shares during the last quarter. GAMMA Investing LLC raised its position in NIKE by 39.1% in the 1st quarter. GAMMA Investing LLC now owns 20,877 shares of the footwear maker's stock valued at $1,325,000 after purchasing an additional 5,863 shares during the last quarter. Finally, Trueblood Wealth Management LLC bought a new position in NIKE in the 1st quarter valued at $256,000. Institutional investors own 64.25% of the company's stock.

Insider Transactions at NIKE

In other NIKE news, EVP Treasure Heinle sold 4,300 shares of the business's stock in a transaction dated Monday, October 6th. The stock was sold at an average price of $71.27, for a total value of $306,461.00. Following the completion of the transaction, the executive vice president directly owned 29,396 shares of the company's stock, valued at approximately $2,095,052.92. The trade was a 12.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Mark G. Parker sold 110,000 shares of the business's stock in a transaction dated 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 approximately $60,894,276.69. The trade was a 11.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 200,378 shares of company stock valued at $14,794,264. Insiders own 0.80% of the company's stock.

NIKE Stock Down 1.4%

Shares of NIKE stock opened at $68.09 on Friday. The company has a quick ratio of 1.45, a current ratio of 2.19 and a debt-to-equity ratio of 0.59. NIKE, Inc. has a 12 month low of $52.28 and a 12 month high of $84.76. The business has a fifty day simple moving average of $73.99 and a 200 day simple moving average of $67.29. The stock has a market cap of $100.56 billion, a PE ratio of 34.92, a price-to-earnings-growth ratio of 2.52 and a beta of 1.29.

NIKE (NYSE:NKE - Get Free Report) last announced its quarterly earnings data on Tuesday, September 30th. The footwear maker reported $0.49 EPS for the quarter, topping analysts' consensus estimates of $0.27 by $0.22. NIKE had a return on equity of 21.16% and a net margin of 6.23%.The business had revenue of $11.72 billion during the quarter, compared to analysts' expectations of $10.96 billion. During the same period in the previous year, the firm earned $0.70 earnings per share. The firm's quarterly revenue was up 1.0% compared to the same quarter last year. Research analysts predict that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend was Tuesday, September 2nd. NIKE's payout ratio is presently 82.05%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on NKE shares. Barclays set a $70.00 target price on NIKE and gave the company a "positive" rating in a research note on Wednesday, October 1st. Weiss Ratings raised NIKE from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Wednesday. Argus raised NIKE to a "buy" rating in a research note on Sunday, July 6th. Deutsche Bank Aktiengesellschaft lowered their target price on NIKE from $77.00 to $71.00 and set a "buy" rating for the company in a research note on Friday, June 20th. Finally, Wall Street Zen raised NIKE from a "sell" rating to a "hold" rating in a research note on Saturday, September 6th. Three analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and eight have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target 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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