NIKE, Inc. $NKE Shares Sold by Mitchell Sinkler & Starr PA

Key Points

• Mitchell Sinkler & Starr PA reduced its holdings in NIKE by 49.2% in the second quarter, now owning approximately 17,726 shares valued at $1,259,000.
• NIKE shares have a consensus target price of $81.57 and an average analyst rating of "Moderate Buy", with several analysts projecting a price target as high as $90.00.
• Insider transactions include Chairman Mark G. Parker selling 86,078 shares for over $6.5 million, signifying a 10.36% decrease in his holdings.

Mitchell Sinkler & Starr PA decreased its holdings in NIKE, Inc. (NYSE:NKE - Free Report) by 49.2% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 17,726 shares of the footwear maker's stock after selling 17,162 shares during the quarter. Mitchell Sinkler & Starr PA's holdings in NIKE were worth $1,259,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Mascoma Wealth Management LLC acquired a new position in NIKE in the second quarter worth approximately $26,000. Stone House Investment Management LLC acquired a new position in NIKE in the first quarter worth approximately $25,000. Halbert Hargrove Global Advisors LLC grew its position in NIKE by 952.6% in the second quarter. Halbert Hargrove Global Advisors LLC now owns 400 shares of the footwear maker's stock worth $28,000 after buying an additional 362 shares during the last quarter. Matrix Trust Co grew its position in NIKE by 53.1% in the second quarter. Matrix Trust Co now owns 441 shares of the footwear maker's stock worth $31,000 after buying an additional 153 shares during the last quarter. Finally, Saudi Central Bank acquired a new position in NIKE in the first quarter worth approximately $30,000. Institutional investors and hedge funds own 64.25% of the company's stock.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Sanford C. Bernstein restated a "buy" rating and issued a $90.00 price target on shares of NIKE in a research report on Wednesday, October 1st. Robert W. Baird raised their price objective on shares of NIKE from $80.00 to $88.00 and gave the stock an "outperform" rating in a research note on Friday, June 27th. Stifel Nicolaus set a $68.00 price objective on shares of NIKE and gave the stock a "hold" rating in a research note on Wednesday, October 1st. Argus raised shares of NIKE to a "buy" rating in a research note on Sunday, July 6th. Finally, Hsbc Global Res raised shares of NIKE from a "hold" rating to a "strong-buy" rating in a research note on Friday, June 27th. Three research analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $81.57.

Insider Buying and Selling at NIKE

In related news, Chairman Mark G. Parker sold 86,078 shares of NIKE stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $75.93, for a total value of $6,535,902.54. Following the completion of the sale, the chairman owned 744,988 shares of the company's stock, valued at approximately $56,566,938.84. The trade was a 10.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Treasure Heinle sold 4,300 shares of NIKE stock in a transaction on Monday, October 6th. The shares were sold at an average price of $71.27, for a total transaction of $306,461.00. Following the completion of the sale, the executive vice president directly owned 29,396 shares of the company's stock, valued at approximately $2,095,052.92. The trade was a 12.76% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 200,378 shares of company stock valued at $14,794,264. 0.80% of the stock is owned by company insiders.

NIKE Trading Down 4.1%

Shares of NYSE:NKE opened at $65.25 on Friday. The firm has a fifty day moving average of $73.80 and a two-hundred day moving average of $67.29. The firm has a market capitalization of $96.45 billion, a P/E ratio of 33.46, a price-to-earnings-growth ratio of 2.38 and a beta of 1.29. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $84.76. The company has a quick ratio of 1.45, a current ratio of 2.19 and a debt-to-equity ratio of 0.59.

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

NIKE Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend was Tuesday, September 2nd. NIKE's payout ratio is presently 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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