QRG Capital Management Inc. Has $6.74 Million Holdings in NIKE, Inc. $NKE

QRG Capital Management Inc. cut its holdings in NIKE, Inc. (NYSE:NKE - Free Report) by 10.0% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 94,799 shares of the footwear maker's stock after selling 10,550 shares during the quarter. QRG Capital Management Inc.'s holdings in NIKE were worth $6,735,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Stone House Investment Management LLC acquired a new position in NIKE in the first quarter valued at approximately $25,000. Halbert Hargrove Global Advisors LLC raised its position in shares of NIKE by 952.6% during the second quarter. Halbert Hargrove Global Advisors LLC now owns 400 shares of the footwear maker's stock worth $28,000 after purchasing an additional 362 shares during the period. Matrix Trust Co raised its position in shares of NIKE by 53.1% during the second quarter. Matrix Trust Co now owns 441 shares of the footwear maker's stock worth $31,000 after purchasing an additional 153 shares during the period. Saudi Central Bank acquired a new position in shares of NIKE during the first quarter worth approximately $30,000. Finally, Opal Wealth Advisors LLC acquired a new position in shares of NIKE during the second quarter worth approximately $35,000. 64.25% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other 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 sale, the chairman directly owned 744,988 shares of the company's stock, valued at $56,566,938.84. This trade represents a 10.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.80% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Wall Street Zen raised NIKE from a "sell" rating to a "hold" rating in a research report on Saturday, September 6th. Citigroup raised NIKE from a "neutral" rating to a "positive" rating in a research report on Friday, September 19th. UBS Group set a $71.00 target price on NIKE and gave the stock a "neutral" rating in a research report on Friday, September 19th. DZ Bank raised NIKE from a "hold" rating to a "buy" rating in a research report on Wednesday, October 1st. Finally, Sanford C. Bernstein reaffirmed a "buy" rating and set a $90.00 target price on shares of NIKE in a research report on Wednesday, October 1st. Three analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $81.57.

NIKE Trading Down 3.4%

Shares of NIKE stock opened at $72.01 on Monday. NIKE, Inc. has a 1 year low of $52.28 and a 1 year high of $84.76. The firm has a market cap of $106.34 billion, a PE ratio of 36.93, a P/E/G ratio of 2.64 and a beta of 1.29. The stock has a fifty day moving average price of $74.62 and a 200-day moving average price of $67.24. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.19 and a quick ratio of 1.45.

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

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders 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 dividend yield of 2.2%. NIKE's dividend payout ratio (DPR) is currently 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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