NIKE, Inc. $NKE Shares Sold by Parallel Advisors LLC

Key Points

• Parallel Advisors LLC reduced its position in NIKE by 11.6%, owning 46,151 shares after selling 6,069 shares during the most recent quarter.
• Chairman Mark G. Parker sold 86,078 shares, resulting in a 10.36% decrease in his holdings, which are now valued at approximately $56.57 million.
• NIKE reported a quarterly revenue of $11.10 billion, exceeding the consensus estimate, although this represents an 11.9% decrease year-over-year.

Parallel Advisors LLC reduced its position in NIKE, Inc. (NYSE:NKE - Free Report) by 11.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 46,151 shares of the footwear maker's stock after selling 6,069 shares during the quarter. Parallel Advisors LLC's holdings in NIKE were worth $3,279,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in NKE. Heck Capital Advisors LLC acquired a new stake in shares of NIKE in the 4th quarter worth $28,000. Stone House Investment Management LLC purchased a new stake in NIKE in the first quarter valued at about $25,000. Saudi Central Bank acquired a new stake in NIKE in the first quarter worth about $30,000. Putney Financial Group LLC purchased a new stake in shares of NIKE during the fourth quarter worth about $40,000. Finally, N.E.W. Advisory Services LLC purchased a new stake in shares of NIKE during the first quarter worth about $37,000. 64.25% of the stock is owned by institutional investors and hedge funds.

Insider Activity at NIKE

In related news, Chairman Mark G. Parker sold 86,078 shares of the stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $75.93, for a total value of $6,535,902.54. Following the completion of the transaction, the chairman directly owned 744,988 shares of the company's stock, valued at approximately $56,566,938.84. This represents a 10.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.80% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Jefferies Financial Group restated a "buy" rating and set a $115.00 price target on shares of NIKE in a research note on Friday, August 22nd. The Goldman Sachs Group boosted their price objective on shares of NIKE from $72.00 to $81.00 and gave the company a "buy" rating in a report on Friday, June 27th. Telsey Advisory Group reissued a "market perform" rating and issued a $70.00 target price on shares of NIKE in a research report on Friday, June 27th. JPMorgan Chase & Co. raised NIKE from a "neutral" rating to an "overweight" rating and lifted their price target for the stock from $64.00 to $93.00 in a research report on Monday, July 28th. Finally, Robert W. Baird increased their price objective on NIKE from $80.00 to $88.00 and gave the company an "outperform" rating in a report on Friday, June 27th. Three analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat, NIKE has an average rating of "Moderate Buy" and a consensus price target of $78.67.

NIKE Stock Up 0.1%

Shares of NYSE NKE opened at $73.06 on Tuesday. The firm has a market cap of $107.91 billion, a price-to-earnings ratio of 33.83, a price-to-earnings-growth ratio of 2.65 and a beta of 1.24. The company's 50-day simple moving average is $75.33 and its 200-day simple moving average is $67.59. 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, Inc. has a 52-week low of $52.28 and a 52-week high of $90.62.

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

NIKE Announces Dividend

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

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.

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