Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD Decreases Position in NIKE, Inc. (NYSE:NKE)

Key Points

• Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD has reduced its position in NIKE, Inc. by 48.0%, now holding 33,380 shares valued at approximately $2.14 million.
• Insider trading reveals that NIKE's Chairman, Mark G. Parker, sold 110,000 shares for about $7.95 million, decreasing his holdings by 11.55%.
• Wall Street analysts have mixed ratings on NIKE stock, with a consensus rating of Moderate Buy and an average price target of $77.15.

Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD reduced its position in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 48.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,380 shares of the footwear maker's stock after selling 30,772 shares during the period. Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD's holdings in NIKE were worth $2,143,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of NKE. Brighton Jones LLC boosted its stake in shares of NIKE by 388.5% in the fourth quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker's stock valued at $15,316,000 after buying an additional 160,980 shares during the period. Bank Pictet & Cie Europe AG grew its holdings in shares of NIKE by 10.3% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 190,915 shares of the footwear maker's stock worth $14,447,000 after purchasing an additional 17,888 shares in the last quarter. Financial Counselors Inc. raised its stake in NIKE by 6.8% in the fourth quarter. Financial Counselors Inc. now owns 25,535 shares of the footwear maker's stock valued at $1,932,000 after purchasing an additional 1,620 shares in the last quarter. Financial Engines Advisors L.L.C. bought a new stake in NIKE during the fourth quarter worth about $666,000. Finally, Ausdal Financial Partners Inc. grew its stake in NIKE by 91.3% during the fourth quarter. Ausdal Financial Partners Inc. now owns 7,402 shares of the footwear maker's stock worth $560,000 after buying an additional 3,533 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors.

NIKE Trading Up 3.9%

NIKE stock traded up $3.00 during mid-day trading on Monday, hitting $79.27. The stock had a trading volume of 22,612,590 shares, compared to its average volume of 17,592,443. The stock has a 50-day simple moving average of $66.81 and a two-hundred day simple moving average of $67.29. The company has a current ratio of 2.21, a quick ratio of 1.50 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $117.07 billion, a PE ratio of 36.70, a P/E/G ratio of 2.80 and a beta of 1.25. NIKE, Inc. has a 12 month low of $52.28 and a 12 month high of $90.62.

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

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd were paid a $0.40 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.02%. NIKE's dividend payout ratio is presently 74.07%.

Analyst Ratings Changes

Several brokerages recently weighed in on NKE. The Goldman Sachs Group boosted their price objective on shares of NIKE from $72.00 to $81.00 and gave the stock a "buy" rating in a research note on Friday, June 27th. Piper Sandler raised their price objective on shares of NIKE from $70.00 to $80.00 and gave the company an "overweight" rating in a research report on Friday, June 27th. Telsey Advisory Group restated a "market perform" rating and issued a $70.00 price objective on shares of NIKE in a report on Friday, June 27th. JPMorgan Chase & Co. raised NIKE from a "neutral" rating to an "overweight" rating and increased their price objective for the company from $64.00 to $93.00 in a research note on Monday. Finally, Wall Street Zen cut NIKE from a "hold" rating to a "sell" rating in a research note on Friday, June 27th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, seventeen have issued a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat, NIKE presently has an average rating of "Moderate Buy" and a consensus price target of $78.22.

Insiders Place Their Bets

In other news, Chairman Mark G. Parker sold 110,000 shares of the company's stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $72.29, for a total value of $7,951,900.00. Following the completion of the transaction, the chairman directly owned 842,361 shares of the company's stock, valued at $60,894,276.69. This represents a 11.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.80% of the company's stock.

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.