Davis R M Inc. Sells 5,294 Shares of NIKE, Inc. (NYSE:NKE)

Key Points

• Davis R M Inc. has reduced its stake in NIKE, Inc. by 8.5%, selling 5,294 shares and now holding 56,648 shares valued at approximately $3.6 million.
• NIKE's Chairman, Mark G. Parker, sold 110,000 shares, resulting in an 11.55% decrease in his ownership, but he still retains around $60.9 million in shares.
• Analysts have varied outlooks on NIKE, with 17 buy ratings and a consensus target price of $78.22, amidst a recent drop in earnings and revenue compared to the previous year.

Davis R M Inc. decreased its position in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 8.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 56,648 shares of the footwear maker's stock after selling 5,294 shares during the quarter. Davis R M Inc.'s holdings in NIKE were worth $3,596,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of NKE. Heck Capital Advisors LLC acquired a new position in NIKE during the 4th quarter worth about $28,000. EnRich Financial Partners LLC lifted its holdings in NIKE by 196.4% during the 4th quarter. EnRich Financial Partners LLC now owns 412 shares of the footwear maker's stock worth $31,000 after buying an additional 273 shares during the period. Roxbury Financial LLC raised its position in shares of NIKE by 52.1% in the 1st quarter. Roxbury Financial LLC now owns 587 shares of the footwear maker's stock worth $37,000 after acquiring an additional 201 shares in the last quarter. N.E.W. Advisory Services LLC bought a new position in shares of NIKE in the 1st quarter worth about $37,000. Finally, Ritter Daniher Financial Advisory LLC DE raised its position in shares of NIKE by 95.1% in the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 513 shares of the footwear maker's stock worth $39,000 after acquiring an additional 250 shares in the last quarter. Institutional investors and hedge funds own 64.25% of the company's stock.

Insiders Place Their Bets

In other 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 transaction of $7,951,900.00. Following the completion of the sale, the chairman directly owned 842,361 shares in the company, valued at approximately $60,894,276.69. The trade was a 11.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.80% of the stock is currently owned by company insiders.

NIKE Price Performance

Shares of NKE opened at $76.74 on Thursday. The company has a market cap of $113.34 billion, a price-to-earnings ratio of 35.53, a price-to-earnings-growth ratio of 2.88 and a beta of 1.25. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $90.62. The company has a quick ratio of 1.50, a current ratio of 2.21 and a debt-to-equity ratio of 0.60. The company has a 50 day moving average of $67.80 and a two-hundred day moving average of $67.49.

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

Analysts Set New Price Targets

Several research analysts have recently weighed in on NKE shares. Hsbc Global Res raised NIKE from a "hold" rating to a "strong-buy" rating in a research report on Friday, June 27th. Williams Trading lowered their price objective on NIKE from $93.00 to $73.00 and set a "buy" rating for the company in a research report on Monday, April 21st. The Goldman Sachs Group lifted their price objective on NIKE from $72.00 to $81.00 and gave the stock a "buy" rating in a research report on Friday, June 27th. Stifel Nicolaus lowered their price objective on NIKE from $75.00 to $64.00 and set a "hold" rating for the company in a research report on Thursday, April 10th. Finally, Citigroup boosted their target price on NIKE from $57.00 to $68.00 and gave the company a "neutral" rating in a research report on Friday, June 27th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, seventeen have issued a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat, NIKE presently has an average rating of "Moderate Buy" and a consensus target price of $78.22.

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.

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