Bulltick Wealth Management LLC Lowers Stake in NIKE, Inc. (NYSE:NKE)

Key Points

• Bulltick Wealth Management LLC reduced its holdings in NIKE, Inc. by 55.4%, selling 26,957 shares and retaining 21,743 shares worth approximately $1.39 million.
• NIKE's Chairman Mark G. Parker sold 110,000 shares at an average price of $72.29, resulting in an 11.55% decrease in his position.
• Analysts have mixed views on NIKE's stock, with target prices ranging from $57.00 to $93.00 and a consensus rating of "Moderate Buy."

Bulltick Wealth Management LLC decreased its position in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 55.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,743 shares of the footwear maker's stock after selling 26,957 shares during the quarter. Bulltick Wealth Management LLC's holdings in NIKE were worth $1,390,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Spire Wealth Management grew its holdings in NIKE by 4.4% during the first quarter. Spire Wealth Management now owns 9,872 shares of the footwear maker's stock worth $627,000 after buying an additional 416 shares in the last quarter. Capitolis Liquid Global Markets LLC grew its holdings in NIKE by 40.9% during the fourth quarter. Capitolis Liquid Global Markets LLC now owns 310,000 shares of the footwear maker's stock worth $23,458,000 after buying an additional 90,000 shares in the last quarter. Janus Henderson Group PLC grew its holdings in NIKE by 8.3% during the fourth quarter. Janus Henderson Group PLC now owns 6,081,021 shares of the footwear maker's stock worth $460,160,000 after buying an additional 463,470 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich grew its holdings in NIKE by 0.6% during the first quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,008,340 shares of the footwear maker's stock worth $69,932,000 after buying an additional 5,601 shares in the last quarter. Finally, Evergreen Capital Management LLC grew its stake in NIKE by 3.3% in the 4th quarter. Evergreen Capital Management LLC now owns 237,199 shares of the footwear maker's stock valued at $18,042,000 after purchasing an additional 7,536 shares during the period. Institutional investors own 64.25% of the company's stock.

NIKE Trading Up 3.2%

Shares of NKE traded up $2.38 during mid-day trading on Wednesday, reaching $77.28. 13,467,677 shares of the company's stock traded hands, compared to its average volume of 10,761,510. The stock has a market cap of $114.13 billion, a P/E ratio of 35.78, a P/E/G ratio of 2.72 and a beta of 1.27. The stock's 50-day moving average is $70.49 and its two-hundred day moving average is $67.67. NIKE, Inc. has a 12 month low of $52.28 and a 12 month high of $90.62. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.21 and a quick ratio of 1.50.

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

NIKE Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. The Goldman Sachs Group upped their price target on NIKE from $72.00 to $81.00 and gave the company a "buy" rating in a research report on Friday, June 27th. Royal Bank Of Canada dropped their price target on NIKE from $66.00 to $65.00 and set a "sector perform" rating on the stock in a research report on Tuesday, May 20th. Bank of America upped their price target on NIKE from $80.00 to $84.00 and gave the company a "buy" rating in a research report on Friday, June 27th. Robert W. Baird upped their price target on NIKE from $80.00 to $88.00 and gave the company an "outperform" rating in a research report on Friday, June 27th. Finally, Jefferies Financial Group reaffirmed a "buy" rating on shares of NIKE in a research report on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $78.22.

Insider Transactions at NIKE

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

About NIKE

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.