Phoenix Financial Ltd. Sells 9,197 Shares of NIKE, Inc. (NYSE:NKE)

Key Points

• Phoenix Financial Ltd. reduced its stake in NIKE, Inc. by 10.3%, selling 9,197 shares and holding a total of 80,001 shares worth approximately $5.09 million.
• NIKE's quarterly earnings exceeded analysts' expectations, reporting $0.14 EPS on $11.10 billion in revenue despite a year-over-year revenue decline of 11.9%.
• The company announced a quarterly dividend of $0.40 per share, which equates to an annual yield of 2.12% and a payout ratio of 74.07%.

Phoenix Financial Ltd. trimmed its position in NIKE, Inc. (NYSE:NKE - Free Report) by 10.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 80,001 shares of the footwear maker's stock after selling 9,197 shares during the quarter. Phoenix Financial Ltd.'s holdings in NIKE were worth $5,091,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Heck Capital Advisors LLC bought a new position in NIKE during the fourth quarter worth about $28,000. EnRich Financial Partners LLC boosted its holdings in NIKE by 196.4% during the fourth quarter. EnRich Financial Partners LLC now owns 412 shares of the footwear maker's stock worth $31,000 after buying an additional 273 shares during the last quarter. Ritter Daniher Financial Advisory LLC DE lifted its holdings in shares of NIKE by 95.1% during the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 513 shares of the footwear maker's stock valued at $39,000 after purchasing an additional 250 shares in the last quarter. Putney Financial Group LLC bought a new position in shares of NIKE during the 4th quarter valued at about $40,000. Finally, Minot DeBlois Advisors LLC bought a new position in shares of NIKE during the 4th quarter valued at about $42,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at NIKE

In related news, Chairman Mark G. Parker sold 110,000 shares of the company'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 sale, the chairman owned 842,361 shares in the company, valued at $60,894,276.69. This represents a 11.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.80% of the stock is currently owned by insiders.

NIKE Price Performance

NKE traded up $3.00 on Monday, reaching $79.27. The stock had a trading volume of 22,450,095 shares, compared to its average volume of 17,590,615. NIKE, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $90.62. The firm has a 50-day moving average of $66.81 and a 200-day 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 company has a market capitalization of $117.07 billion, a price-to-earnings ratio of 36.70, a price-to-earnings-growth ratio of 2.80 and a beta of 1.25.

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

NIKE Announces Dividend

The business also recently declared 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 was Monday, June 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.02%. NIKE's payout ratio is 74.07%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on NKE. Stifel Nicolaus cut their price objective on NIKE from $75.00 to $64.00 and set a "hold" rating on the stock in a report on Thursday, April 10th. Robert W. Baird lifted 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. Hsbc Global Res raised NIKE from a "hold" rating to a "strong-buy" rating in a research report on Friday, June 27th. Argus raised NIKE to a "buy" rating in a research report on Sunday, July 6th. Finally, Jefferies Financial Group reissued a "buy" rating on shares of NIKE in a research report on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, seventeen have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, NIKE currently has a consensus rating of "Moderate Buy" and a consensus target price of $78.22.

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.