Ethic Inc. Has $6.53 Million Stock Holdings in NIKE, Inc. $NKE

Key Points

• Ethic Inc. reduced its stake in NIKE, Inc. by 9.7%, holding 90,579 shares valued at approximately $6.53 million at the end of the last quarter.
• The company's quarterly earnings surpassed expectations, reporting $0.49 EPS against an estimated $0.27, along with a revenue of $11.72 billion.
• NIKE declared a quarterly dividend of $0.40 per share, resulting in an annual dividend yield of 2.3%, with a payout ratio of 82.05%.

Ethic Inc. cut its position in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 9.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 90,579 shares of the footwear maker's stock after selling 9,716 shares during the period. Ethic Inc.'s holdings in NIKE were worth $6,525,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Mascoma Wealth Management LLC acquired a new position in shares of NIKE during the 2nd quarter worth about $26,000. Stone House Investment Management LLC bought a new stake in shares of NIKE during the 1st quarter worth about $25,000. Halbert Hargrove Global Advisors LLC boosted its holdings in shares of NIKE by 952.6% during the 2nd quarter. Halbert Hargrove Global Advisors LLC now owns 400 shares of the footwear maker's stock worth $28,000 after buying an additional 362 shares during the period. Matrix Trust Co boosted its holdings in shares of NIKE by 53.1% during the 2nd quarter. Matrix Trust Co now owns 441 shares of the footwear maker's stock worth $31,000 after buying an additional 153 shares during the period. Finally, Saudi Central Bank bought a new stake in shares of NIKE during the 1st quarter worth about $30,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Chairman Mark G. Parker sold 86,078 shares of the company's stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $75.93, for a total transaction of $6,535,902.54. Following the completion of the sale, the chairman owned 744,988 shares of the company's stock, valued at approximately $56,566,938.84. This represents a 10.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Treasure Heinle sold 4,300 shares of the company's stock in a transaction that occurred on Monday, October 6th. The stock was sold at an average price of $71.27, for a total transaction of $306,461.00. Following the sale, the executive vice president directly owned 29,396 shares of the company's stock, valued at approximately $2,095,052.92. This trade represents a 12.76% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.80% of the company's stock.

NIKE Stock Performance

NYSE NKE opened at $69.03 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. The company has a market capitalization of $102.03 billion, a P/E ratio of 35.40, a P/E/G ratio of 2.52 and a beta of 1.29. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $82.44. The firm has a 50-day moving average price of $72.67 and a two-hundred day moving average price of $67.57.

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, beating analysts' consensus estimates of $0.27 by $0.22. The firm had revenue of $11.72 billion during the quarter, compared to the consensus estimate of $10.96 billion. NIKE had a net margin of 6.23% and a return on equity of 21.16%. The business's revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.70 EPS. Analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

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

Wall Street Analyst Weigh In

NKE has been the subject of several research analyst reports. Wall Street Zen raised shares of NIKE from a "sell" rating to a "hold" rating in a report on Saturday, September 6th. Citigroup raised shares of NIKE from a "neutral" rating to a "positive" rating in a report on Friday, September 19th. KeyCorp set a $90.00 target price on shares of NIKE and gave the stock an "overweight" rating in a report on Thursday, October 2nd. HSBC raised shares of NIKE from a "hold" rating to a "buy" rating and set a $80.00 target price for the company in a report on Friday, June 27th. Finally, Stifel Nicolaus set a $68.00 target price on shares of NIKE and gave the stock a "hold" rating in a report on Wednesday, October 1st. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $82.21.

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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