Callahan Advisors LLC Cuts Position in NIKE, Inc. $NKE

Key Points

• Callahan Advisors LLC reduced its stake in NIKE by 41.4%, ending the second quarter with 28,300 shares valued at $2,010,000.
• Recent insider transactions include EVP Treasure Heinle selling 4,300 shares and Chairman Mark G. Parker selling 86,078 shares, representing a 12.76% and 10.36% decrease in their positions, respectively.
• Analysts have a consensus rating of "Moderate Buy" for NIKE, with an average target price of $82.21, following positive quarterly earnings that exceeded expectations.

Callahan Advisors LLC trimmed its position in NIKE, Inc. (NYSE:NKE - Free Report) by 41.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,300 shares of the footwear maker's stock after selling 20,017 shares during the quarter. Callahan Advisors LLC's holdings in NIKE were worth $2,010,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of NKE. Brighton Jones LLC raised its holdings in shares of NIKE by 388.5% in the 4th quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker's stock worth $15,316,000 after purchasing an additional 160,980 shares during the period. GAMMA Investing LLC raised its holdings in shares of NIKE by 39.1% during the 1st quarter. GAMMA Investing LLC now owns 20,877 shares of the footwear maker's stock valued at $1,325,000 after buying an additional 5,863 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in shares of NIKE by 9.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 177,009 shares of the footwear maker's stock valued at $11,236,000 after buying an additional 14,748 shares during the period. Ritholtz Wealth Management raised its holdings in shares of NIKE by 30.6% during the 1st quarter. Ritholtz Wealth Management now owns 8,939 shares of the footwear maker's stock valued at $567,000 after buying an additional 2,095 shares during the period. Finally, Trust Point Inc. raised its holdings in shares of NIKE by 17.5% during the 1st quarter. Trust Point Inc. now owns 5,532 shares of the footwear maker's stock valued at $351,000 after buying an additional 822 shares during the period. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at NIKE

In other news, EVP Treasure Heinle sold 4,300 shares of NIKE stock in a transaction that occurred on 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 owned 29,396 shares in the company, valued at approximately $2,095,052.92. This trade represents a 12.76% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Mark G. Parker sold 86,078 shares of NIKE stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $75.93, for a total value of $6,535,902.54. Following the completion of the transaction, the chairman owned 744,988 shares of the company's stock, valued at approximately $56,566,938.84. The trade was a 10.36% decrease in their position. The disclosure for this sale can be found here. 0.80% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. BTIG Research assumed coverage on NIKE in a report on Tuesday. They set a "buy" rating and a $100.00 target price on the stock. UBS Group set a $71.00 target price on NIKE and gave the company a "neutral" rating in a report on Friday, September 19th. Hsbc Global Res upgraded NIKE from a "hold" rating to a "strong-buy" rating in a report on Friday, June 27th. Royal Bank Of Canada reiterated an "outperform" rating on shares of NIKE in a report on Friday, October 10th. Finally, DZ Bank upgraded NIKE from a "hold" rating to a "buy" rating in a report on Wednesday, October 1st. Three research analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $82.21.

NIKE Price Performance

NKE stock opened at $68.45 on Thursday. 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 52-week low of $52.28 and a 52-week high of $84.76. The stock's 50 day moving average is $73.38 and its two-hundred day moving average is $67.34. The company has a market capitalization of $101.18 billion, a PE ratio of 35.10, a P/E/G ratio of 2.49 and a beta of 1.29.

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

NIKE Dividend Announcement

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

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.

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