Mutual Advisors LLC Has $1.70 Million Stock Holdings in NIKE, Inc. $NKE

Mutual Advisors LLC cut its holdings in NIKE, Inc. (NYSE:NKE - Free Report) by 26.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,291 shares of the footwear maker's stock after selling 7,888 shares during the quarter. Mutual Advisors LLC's holdings in NIKE were worth $1,700,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of NKE. Goldman Sachs Group Inc. lifted its stake in shares of NIKE by 344.2% in the first quarter. Goldman Sachs Group Inc. now owns 26,698,835 shares of the footwear maker's stock worth $1,694,842,000 after buying an additional 20,688,013 shares during the last quarter. Wellington Management Group LLP lifted 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 worth $2,880,971,000 after buying an additional 9,043,180 shares during the last quarter. Jennison Associates LLC acquired a new stake in shares of NIKE in the first quarter worth $509,051,000. Nuveen LLC acquired a new stake in shares of NIKE in the first quarter worth $502,285,000. Finally, Vanguard Group Inc. lifted its stake in shares of NIKE by 4.6% in the first quarter. Vanguard Group Inc. now owns 113,151,080 shares of the footwear maker's stock worth $7,182,831,000 after buying an additional 4,957,494 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Trading Down 2.4%

Shares of NIKE stock opened at $66.82 on Friday. The firm has a market capitalization of $98.77 billion, a PE ratio of 34.27, a price-to-earnings-growth ratio of 2.52 and a beta of 1.29. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.19 and a quick ratio of 1.45. The company's fifty day moving average price is $73.23 and its two-hundred day moving average price is $67.36. NIKE, Inc. has a 52-week low of $52.28 and a 52-week high of $84.76.

NIKE (NYSE:NKE - Get Free Report) last announced its quarterly earnings results on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.22. The firm had revenue of $11.72 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.70 EPS. On average, analysts expect that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend was Tuesday, September 2nd. NIKE's payout ratio is 82.05%.

Insider Buying and Selling at NIKE

In other news, EVP Treasure Heinle sold 4,300 shares of the company's stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $71.27, for a total value of $306,461.00. Following the sale, the executive vice president owned 29,396 shares of the company's stock, valued at approximately $2,095,052.92. This represents a 12.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Mark G. Parker sold 86,078 shares of the company's stock in a transaction dated Thursday, August 14th. The stock was 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 directly 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 disclosure for this sale can be found here. Insiders own 0.80% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on NKE shares. TD Cowen upgraded shares of NIKE from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $62.00 to $85.00 in a research note on Wednesday, September 10th. Weiss Ratings upgraded shares of NIKE from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Wednesday, October 8th. Citigroup upgraded shares of NIKE from a "neutral" rating to a "positive" rating in a research note on Friday, September 19th. Jefferies Financial Group reiterated a "buy" rating and set a $115.00 target price on shares of NIKE in a research note on Monday, September 29th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $78.00 target price on shares of NIKE in a research note on Wednesday, October 1st. Three analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, NIKE presently has an average rating of "Moderate Buy" and a consensus target price of $82.21.

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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