NIKE, Inc. $NKE Shares Sold by Jump Financial LLC

Key Points

• Jump Financial LLC sold 103,169 shares of NIKE, reducing its holdings by 93.7% during the first quarter, leaving them with 6,976 shares valued at approximately $443,000.
• Insider trading was noted as Chairman Mark G. Parker sold 86,078 shares at an average price of $75.93, reducing his position by 10.36%.
• NIKE recently announced a quarterly dividend of $0.40 per share, with a 2.1% yield and a dividend payout ratio of 74.07%.

Jump Financial LLC trimmed its stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 93.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,976 shares of the footwear maker's stock after selling 103,169 shares during the period. Jump Financial LLC's holdings in NIKE were worth $443,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Stone House Investment Management LLC acquired a new stake in shares of NIKE in the first quarter valued at about $25,000. Heck Capital Advisors LLC acquired a new stake in NIKE during the fourth quarter worth about $28,000. Roxbury Financial LLC increased its position 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 purchasing an additional 201 shares during the last quarter. N.E.W. Advisory Services LLC acquired a new stake in NIKE during the first quarter worth about $37,000. Finally, Putney Financial Group LLC acquired a new stake in NIKE during the fourth quarter worth about $40,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently issued reports on NKE. Evercore ISI cut their price objective on shares of NIKE from $97.00 to $75.00 and set an "outperform" rating for the company in a research report on Tuesday, June 24th. Wall Street Zen cut shares of NIKE from a "hold" rating to a "sell" rating in a research report on Friday, June 27th. Robert W. Baird lifted their price target on shares of NIKE from $80.00 to $88.00 and gave the company an "outperform" rating in a research report on Friday, June 27th. Wells Fargo & Company lifted their price target on shares of NIKE from $55.00 to $60.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 14th. Finally, JPMorgan Chase & Co. upgraded shares of NIKE from a "neutral" rating to an "overweight" rating and lifted their price target for the company from $64.00 to $93.00 in a research report on Monday, July 28th. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and thirteen have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $78.22.

NIKE Stock Up 0.5%

NIKE stock traded up $0.40 during trading on Wednesday, reaching $74.69. The stock had a trading volume of 7,465,443 shares, compared to its average volume of 8,412,580. NIKE, Inc. has a 52-week low of $52.28 and a 52-week high of $90.62. The business has a 50 day moving average price of $75.19 and a 200 day moving average price of $67.98. 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 stock has a market cap of $110.32 billion, a PE ratio of 34.58, a P/E/G ratio of 2.81 and a beta of 1.24.

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

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Tuesday, September 2nd. NIKE's payout ratio is currently 74.07%.

Insider Buying and Selling at NIKE

In other news, Chairman Mark G. Parker sold 86,078 shares of the business'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 in the company, valued at approximately $56,566,938.84. The trade was a 10.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.80% of the company's stock.

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.