NIKE, Inc. $NKE Shares Sold by Jones Financial Companies Lllp

Key Points

• Jones Financial Companies Lllp significantly reduced its holdings in NIKE, Inc. by 83.1%, selling 240,078 shares during the 1st quarter and now holds 48,877 shares valued at approximately $3.2 million.
• NIKE's recent quarterly earnings report showed earnings per share (EPS) of $0.14, exceeding analysts' expectations, despite a year-over-year revenue decline of 11.9% to $11.10 billion.
• The company has announced a quarterly dividend of $0.40, which reflects a 2.2% yield and comes with a payout ratio of 74.07%.

Jones Financial Companies Lllp decreased its holdings in NIKE, Inc. (NYSE:NKE - Free Report) by 83.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 48,877 shares of the footwear maker's stock after selling 240,078 shares during the quarter. Jones Financial Companies Lllp's holdings in NIKE were worth $3,189,000 at the end of the most recent quarter.

Other large investors 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 worth approximately $25,000. Heck Capital Advisors LLC acquired a new position in shares of NIKE in the 4th quarter valued at $28,000. Saudi Central Bank purchased a new stake in shares of NIKE during the 1st quarter valued at $30,000. Roxbury Financial LLC increased its holdings in shares of NIKE by 52.1% during the 1st quarter. Roxbury Financial LLC now owns 587 shares of the footwear maker's stock worth $37,000 after buying an additional 201 shares during the last quarter. Finally, N.E.W. Advisory Services LLC purchased a new position in shares of NIKE in the 1st quarter worth $37,000. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

NIKE Stock Up 0.8%

NYSE NKE opened at $74.22 on Thursday. The stock has a market cap of $109.61 billion, a PE ratio of 34.36, a P/E/G ratio of 2.67 and a beta of 1.24. NIKE, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $90.62. The business has a 50 day moving average price of $75.50 and a two-hundred day moving average price of $67.91. The company has a quick ratio of 1.50, a current ratio of 2.21 and a debt-to-equity ratio of 0.60.

NIKE (NYSE:NKE - Get Free Report) last posted its quarterly earnings data on Thursday, June 26th. The footwear maker reported $0.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.12 by $0.02. The company had revenue of $11.10 billion for the quarter, compared to analyst estimates of $10.69 billion. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The business's quarterly revenue was down 11.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.99 earnings per share. As a group, sell-side analysts predict that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be issued a $0.40 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.2%. NIKE's payout ratio is currently 74.07%.

Insiders Place Their Bets

In other news, Chairman Mark G. Parker sold 110,000 shares of the firm's stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $72.29, for a total transaction of $7,951,900.00. Following the completion of the sale, the chairman directly owned 842,361 shares in the company, valued at $60,894,276.69. This trade represents a 11.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.80% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Telsey Advisory Group reissued a "market perform" rating and set a $70.00 price target on shares of NIKE in a research report on Friday, June 27th. The Goldman Sachs Group lifted their price objective on NIKE from $72.00 to $81.00 and gave the company a "buy" rating in a research note on Friday, June 27th. Argus raised shares of NIKE to a "buy" rating in a research report on Sunday, July 6th. Sanford C. Bernstein restated an "outperform" rating on shares of NIKE in a report on Monday, August 18th. Finally, Wall Street Zen upgraded shares of NIKE from a "sell" rating to a "hold" rating in a research note on Saturday, September 6th. Three investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat, NIKE presently has a consensus rating of "Moderate Buy" and a consensus price target of $78.67.

About NIKE

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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