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Callan Family Office LLC Sells 10,747 Shares of NIKE, Inc. (NYSE:NKE)

NIKE logo with Consumer Discretionary background

Key Points

  • Callan Family Office LLC has decreased its holdings in NIKE, Inc. by 42.6% after selling 10,747 shares, leaving them with 14,464 shares valued at $918,000.
  • NIKE reported a quarterly EPS of $0.14, exceeding analyst expectations of $0.12, while experiencing a 11.9% year-over-year decline in revenue.
  • Recently, NIKE's chairman sold 110,000 shares at an average price of $72.29, representing a significant decrease in his ownership stake.
  • Want stock alerts on NIKE? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

Callan Family Office LLC reduced its position in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 42.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,464 shares of the footwear maker's stock after selling 10,747 shares during the period. Callan Family Office LLC's holdings in NIKE were worth $918,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in NKE. Stone House Investment Management LLC purchased a new stake in NIKE during the first quarter worth about $25,000. Heck Capital Advisors LLC purchased a new stake in NIKE during the fourth quarter worth about $28,000. Roxbury Financial LLC increased its holdings in NIKE by 52.1% during the first quarter. Roxbury Financial LLC now owns 587 shares of the footwear maker's stock worth $37,000 after buying an additional 201 shares during the last quarter. N.E.W. Advisory Services LLC purchased a new stake in NIKE during the first quarter worth about $37,000. Finally, Putney Financial Group LLC purchased a new stake in NIKE during the fourth quarter worth about $40,000. 64.25% of the stock is owned by institutional investors.

NIKE Trading Up 1.2%

Shares of NKE opened at $74.91 on Wednesday. The firm has a market cap of $110.63 billion, a price-to-earnings ratio of 34.68, a PEG ratio of 2.69 and a beta of 1.27. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.50 and a current ratio of 2.21. NIKE, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $90.62. The firm has a 50 day moving average price of $70.20 and a 200-day moving average price of $67.60.

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 for the quarter, topping analysts' consensus estimates of $0.12 by $0.02. The firm had revenue of $11.10 billion during 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% on a year-over-year basis. During the same period in the previous year, the business posted $0.99 EPS. As a group, equities research analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

The company also recently announced 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. This represents a $1.60 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Tuesday, September 2nd. NIKE's payout ratio is presently 74.07%.

Insider Activity at NIKE

In related news, Chairman Mark G. Parker sold 110,000 shares of NIKE 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 transaction, the chairman directly owned 842,361 shares of the company's stock, valued at $60,894,276.69. The trade was a 11.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.80% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on NKE shares. Hsbc Global Res upgraded shares of NIKE from a "hold" rating to a "strong-buy" rating in a report on Friday, June 27th. 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 note on Tuesday, June 24th. Argus upgraded shares of NIKE to a "buy" rating in a research note on Sunday, July 6th. Williams Trading reduced their target price on shares of NIKE from $93.00 to $73.00 and set a "buy" rating for the company in a research note on Monday, April 21st. Finally, Wall Street Zen downgraded shares of NIKE from a "hold" rating to a "sell" rating in a research note on Friday, June 27th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, seventeen have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $78.22.

View Our Latest Stock Analysis on NKE

About NIKE

(Free Report)

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.

See Also

Institutional Ownership by Quarter for NIKE (NYSE:NKE)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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