Grimes & Company Inc. Sells 48,665 Shares of NIKE, Inc. $NKE

Grimes & Company Inc. lowered its holdings in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 32.4% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 101,667 shares of the footwear maker's stock after selling 48,665 shares during the period. Grimes & Company Inc.'s holdings in NIKE were worth $7,222,000 as of its most recent filing with the SEC.

Several other large investors have also bought and sold shares of NKE. Vanguard Group Inc. grew its holdings in shares of NIKE by 4.6% during the 1st quarter. Vanguard Group Inc. now owns 113,151,080 shares of the footwear maker's stock valued at $7,182,831,000 after purchasing an additional 4,957,494 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of NIKE by 24.9% in the first quarter. Wellington Management Group LLP now owns 45,383,916 shares of the footwear maker's stock valued at $2,880,971,000 after buying an additional 9,043,180 shares during the period. Goldman Sachs Group Inc. increased its position in NIKE by 344.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 26,698,835 shares of the footwear maker's stock valued at $1,694,842,000 after acquiring an additional 20,688,013 shares during the period. Bank of New York Mellon Corp increased its holdings in NIKE by 3.0% in the first quarter. Bank of New York Mellon Corp now owns 20,988,207 shares of the footwear maker's stock valued at $1,332,331,000 after purchasing an additional 620,214 shares during the period. Finally, Flossbach Von Storch SE lifted its holdings in NIKE by 24.0% during the 1st quarter. Flossbach Von Storch SE now owns 10,286,619 shares of the footwear maker's stock worth $652,995,000 after buying an additional 1,988,547 shares during the period. 64.25% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at NIKE

In related news, Chairman Mark G. Parker sold 110,000 shares of the stock in a transaction dated 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 transaction, the chairman owned 842,361 shares in the company, valued at approximately $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 can be accessed through this link. Company insiders own 0.80% of the company's stock.

Analysts Set New Price Targets

NKE has been the topic of a number of recent analyst reports. Wall Street Zen upgraded shares of NIKE from a "sell" rating to a "hold" rating in a research report on Saturday, September 6th. Cowen raised shares of NIKE from a "hold" rating to a "buy" rating in a research note on Wednesday, September 10th. Needham & Company LLC reiterated a "buy" rating and set a $78.00 price objective on shares of NIKE in a report on Wednesday, October 1st. Deutsche Bank Aktiengesellschaft reduced their target price on NIKE from $77.00 to $71.00 and set a "buy" rating for the company in a research note on Friday, June 20th. Finally, Jefferies Financial Group reaffirmed a "buy" rating and set a $115.00 target price on shares of NIKE in a research report on Monday, September 29th. Three analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $81.57.

NIKE Price Performance

Shares of NYSE NKE opened at $72.01 on Monday. The company has a market capitalization of $106.34 billion, a PE ratio of 36.93, a PEG ratio of 2.64 and a beta of 1.29. 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 stock's 50 day moving average price is $74.62 and its 200-day moving average price is $67.24. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $84.76.

NIKE (NYSE:NKE - Get Free Report) last issued its quarterly earnings results on Tuesday, September 30th. The footwear maker reported $0.49 EPS for the quarter, beating analysts' consensus estimates of $0.27 by $0.22. NIKE had a return on equity of 21.16% and a net margin of 6.23%.The company had revenue of $11.72 billion during the quarter, compared to the consensus estimate of $10.96 billion. During the same period last year, the business posted $0.70 earnings per share. NIKE's revenue was up 1.0% on a year-over-year basis. On average, equities analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend was Tuesday, September 2nd. NIKE's payout ratio is 82.05%.

NIKE Company 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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