Northeast Investment Management Reduces Position in NIKE, Inc. $NKE

Key Points

• Northeast Investment Management reduced its stake in NIKE, Inc. by 10.2%, selling 4,534 shares during the second quarter, resulting in holdings valued at approximately $2.83 million.
• Insider selling was noted, with Chairman Mark G. Parker selling 86,078 shares at an average price of $75.93, decreasing his ownership by 10.36%.
• NIKE's stock recently traded at $67.46, with a market capitalization of $99.72 billion and a P/E ratio of 34.59.

Northeast Investment Management lessened its stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 10.2% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 39,840 shares of the footwear maker's stock after selling 4,534 shares during the quarter. Northeast Investment Management's holdings in NIKE were worth $2,830,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in NKE. Brighton Jones LLC boosted its stake in shares of NIKE by 388.5% during the fourth quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker's stock valued at $15,316,000 after purchasing an additional 160,980 shares during the period. GAMMA Investing LLC boosted its stake in shares of NIKE by 39.1% during the first quarter. GAMMA Investing LLC now owns 20,877 shares of the footwear maker's stock valued at $1,325,000 after purchasing an additional 5,863 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in shares of NIKE by 9.1% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 177,009 shares of the footwear maker's stock valued at $11,236,000 after purchasing an additional 14,748 shares during the period. Janney Montgomery Scott LLC boosted its stake in shares of NIKE by 8.2% during the first quarter. Janney Montgomery Scott LLC now owns 140,764 shares of the footwear maker's stock valued at $8,936,000 after purchasing an additional 10,679 shares during the period. Finally, Blue Trust Inc. boosted its stake in shares of NIKE by 8.2% during the first quarter. Blue Trust Inc. now owns 12,782 shares of the footwear maker's stock valued at $811,000 after purchasing an additional 969 shares during the period. Hedge funds and other institutional investors own 64.25% of the company's stock.

Insider Buying and Selling at NIKE

In other NIKE news, Chairman Mark G. Parker sold 86,078 shares of the firm's stock in a transaction on 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 transaction, the chairman owned 744,988 shares of the company's stock, valued at approximately $56,566,938.84. This trade represents a 10.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Treasure Heinle sold 4,300 shares of the firm's stock in a transaction on Monday, October 6th. The shares were sold at an average price of $71.27, for a total value of $306,461.00. Following the transaction, the executive vice president directly owned 29,396 shares of the company's stock, valued at $2,095,052.92. This represents a 12.76% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.80% of the company's stock.

NIKE Stock Performance

Shares of NIKE stock opened at $67.46 on Friday. The company has a current ratio of 2.19, a quick ratio of 1.45 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $99.72 billion, a P/E ratio of 34.59, a P/E/G ratio of 2.48 and a beta of 1.29. The business has a fifty day simple moving average of $73.10 and a two-hundred day simple moving average of $67.40. NIKE, Inc. has a 12 month low of $52.28 and a 12 month high of $83.95.

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

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $1.60 annualized dividend and a yield of 2.4%. NIKE's dividend payout ratio (DPR) is currently 82.05%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on NKE shares. JPMorgan Chase & Co. increased their price objective on NIKE from $93.00 to $100.00 and gave the company an "overweight" rating in a research note on Wednesday, October 1st. HSBC raised NIKE from a "hold" rating to a "buy" rating and set a $80.00 price target for the company in a research note on Friday, June 27th. The Goldman Sachs Group set a $85.00 price target on NIKE and gave the stock a "buy" rating in a research note on Thursday, September 25th. Hsbc Global Res raised NIKE from a "hold" rating to a "strong-buy" rating in a research note on Friday, June 27th. Finally, Weiss Ratings raised NIKE from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Wednesday, October 8th. Three equities research 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 stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $82.21.

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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