Quotient Wealth Partners LLC Sells 4,041 Shares of NIKE, Inc. $NKE

Key Points

• Quotient Wealth Partners LLC reduced its stake in NIKE, Inc. by 33.4%, selling 4,041 shares and now holds 8,072 shares worth approximately $573,000.
• Several hedge funds, including Vanguard Group and Goldman Sachs, increased their positions in NIKE, reflecting a growing institutional interest, as 64.25% of the stock is now owned by institutional investors.
• NIKE reported a quarterly EPS of $0.49, surpassing analysts' expectations and indicating a 1.0% increase in revenue year-over-year, with a consensus price target of $82.21 among analysts.

Quotient Wealth Partners LLC lessened its holdings in NIKE, Inc. (NYSE:NKE - Free Report) by 33.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,072 shares of the footwear maker's stock after selling 4,041 shares during the period. Quotient Wealth Partners LLC's holdings in NIKE were worth $573,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of NKE. Vanguard Group Inc. boosted its stake in shares of NIKE by 4.6% during the 1st quarter. Vanguard Group Inc. now owns 113,151,080 shares of the footwear maker's stock worth $7,182,831,000 after acquiring an additional 4,957,494 shares in the last quarter. Wellington Management Group LLP lifted its holdings in NIKE by 24.9% in the 1st quarter. Wellington Management Group LLP now owns 45,383,916 shares of the footwear maker's stock worth $2,880,971,000 after purchasing an additional 9,043,180 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in NIKE by 344.2% during the first quarter. Goldman Sachs Group Inc. now owns 26,698,835 shares of the footwear maker's stock worth $1,694,842,000 after purchasing an additional 20,688,013 shares during the period. Bank of New York Mellon Corp grew its holdings in NIKE by 3.0% during the first quarter. Bank of New York Mellon Corp now owns 20,988,207 shares of the footwear maker's stock valued at $1,332,331,000 after purchasing an additional 620,214 shares during the last quarter. Finally, Flossbach Von Storch SE raised its position in shares of NIKE by 24.0% in the first quarter. Flossbach Von Storch SE now owns 10,286,619 shares of the footwear maker's stock valued at $652,995,000 after purchasing an additional 1,988,547 shares during the period. 64.25% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at NIKE

In related news, EVP Treasure Heinle sold 4,300 shares of the company's stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $71.27, for a total value of $306,461.00. Following the sale, the executive vice president owned 29,396 shares of the company's stock, valued at $2,095,052.92. The trade was a 12.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Mark G. Parker sold 86,078 shares of the stock in a transaction dated 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 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 disclosure for this sale can be found here. Insiders own 0.80% of the company's stock.

NIKE Stock Up 0.9%

NKE stock opened at $67.46 on Friday. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $83.95. The company has a quick ratio of 1.45, a current ratio of 2.19 and a debt-to-equity ratio of 0.59. The company has a market cap of $99.72 billion, a PE ratio of 34.59, a price-to-earnings-growth ratio of 2.48 and a beta of 1.29. The business's 50-day simple moving average is $73.10 and its 200 day simple moving average is $67.40.

NIKE (NYSE:NKE - Get Free Report) last posted its quarterly earnings results on Tuesday, September 30th. The footwear maker reported $0.49 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 analysts' expectations of $10.96 billion. During the same quarter in the prior year, the firm posted $0.70 EPS. The company's revenue for the quarter was up 1.0% on a year-over-year basis. On average, research analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

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

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Argus upgraded shares of NIKE to a "buy" rating in a research note on Sunday, July 6th. DZ Bank upgraded shares of NIKE from a "hold" rating to a "buy" rating in a report on Wednesday, October 1st. Sanford C. Bernstein reiterated a "buy" rating and issued a $90.00 price objective on shares of NIKE in a research note on Monday, October 13th. Bank of America boosted their price objective on NIKE from $80.00 to $84.00 and gave the stock a "buy" rating in a research report on Friday, June 27th. Finally, Royal Bank Of Canada restated an "outperform" rating on shares of NIKE in a research note on Friday, October 10th. Three analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, NIKE presently 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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