HighTower Advisors LLC Sells 1,593,250 Shares of NIKE, Inc. $NKE

HighTower Advisors LLC cut its position in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 81.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 372,300 shares of the footwear maker's stock after selling 1,593,250 shares during the period. HighTower Advisors LLC's holdings in NIKE were worth $15,283,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. California State Teachers Retirement System raised its stake in shares of NIKE by 4,052.9% in the 2nd quarter. California State Teachers Retirement System now owns 75,611,801 shares of the footwear maker's stock valued at $3,103,864,000 after buying an additional 73,791,103 shares in the last quarter. J. Stern & Co. LLP boosted its position in shares of NIKE by 49,010.4% during the 4th quarter. J. Stern & Co. LLP now owns 48,054,542 shares of the footwear maker's stock valued at $3,061,555,000 after acquiring an additional 47,956,692 shares in the last quarter. Norges Bank bought a new stake in NIKE in the fourth quarter valued at about $829,956,000. Flossbach Von Storch SE acquired a new position in NIKE in the second quarter worth about $488,714,000. Finally, Harris Associates L P bought a new position in NIKE during the second quarter worth about $621,525,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE News Summary

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: Some analysts believe NIKE’s underlying business is not fundamentally broken. Potential longer-term catalysts include growth in the Running category, new product launches, and a possible recovery in demand if management successfully refreshes the brand. Nike: The Sentiment Is Bleak, But The Underlying Business Is Not Broken
• Positive Sentiment: One bullish Wall Street view argues that NIKE’s shares could potentially nearly double from current levels, although that outlook is an outlier compared with broader analyst caution. Nike Is In Free Fall: This Wall Street Ratings Agency Says It's Doubling Soon

NIKE Stock Performance

Shares of NYSE:NKE opened at $37.34 on Thursday. The business has a fifty day moving average of $41.34 and a 200-day moving average of $45.58. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.36 and a current ratio of 1.96. NIKE, Inc. has a twelve month low of $36.85 and a twelve month high of $76.97. The firm has a market cap of $55.40 billion, a PE ratio of 17.87, a price-to-earnings-growth ratio of 1.87 and a beta of 1.10.

NIKE (NYSE:NKE - Get Free Report) last issued its quarterly earnings results on Tuesday, June 30th. The footwear maker reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.09. NIKE had a net margin of 6.70% and a return on equity of 16.54%. The business had revenue of $10.97 billion for the quarter, compared to the consensus estimate of $10.85 billion. During the same quarter in the prior year, the company earned $0.14 EPS. The firm's quarterly revenue was down 1.1% on a year-over-year basis. On average, equities research analysts predict that NIKE, Inc. will post 1.74 EPS for the current fiscal year.

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st will be given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date is Tuesday, September 1st. NIKE's dividend payout ratio is presently 78.47%.

Analysts Set New Price Targets

Several research firms have recently weighed in on NKE. Weiss Ratings upgraded NIKE from a "sell (d)" rating to a "sell (d+)" rating in a research note on Friday, July 17th. Berenberg Bank set a $49.00 price target on NIKE and gave the company a "hold" rating in a research note on Friday, July 3rd. Barclays lowered their price target on NIKE from $67.00 to $52.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 1st. Jefferies Financial Group reiterated a "buy" rating on shares of NIKE in a research note on Tuesday, August 25th. Finally, Stifel Nicolaus set a $45.00 price objective on NIKE and gave the company a "hold" rating in a report on Wednesday, July 1st. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, twenty have assigned a Hold rating and five have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $51.33.

Insider Activity at NIKE

In other news, insider Amy Montagne sold 4,867 shares of the stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $42.05, for a total transaction of $204,657.35. Following the sale, the insider directly owned 57,436 shares of the company's stock, valued at $2,415,183.80. This represents a 7.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Matthew Friend sold 2,463 shares of the business's stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $41.60, for a total transaction of $102,460.80. Following the completion of the transaction, the chief financial officer owned 82,165 shares of the company's stock, valued at $3,418,064. This trade represents a 2.91% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 26,142 shares of company stock valued at $1,169,380 over the last three months. 1.10% of the stock is owned by company insiders.

NIKE Profile

NIKE, Inc is a global athletic footwear, apparel and equipment company headquartered near Beaverton, Oregon. The company designs, develops and markets products under the NIKE, Jordan and Converse brands, serving athletes and consumers across a broad range of sports and lifestyle categories.

NIKE's offerings include athletic and casual footwear, sportswear, apparel, accessories and athletic equipment. The company distributes its products through company-owned retail stores, digital platforms, wholesale partners and independent distributors.

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