TBH Global Asset Management LLC Reduces Stake in NIKE, Inc. $NKE

Key Points

• TBH Global Asset Management LLC reduced its stake in NIKE, Inc. by 45.3% during the second quarter, now holding 5,224 shares valued at approximately $371,000.
• Insider selling was noted, with NIKE's Chairman Mark G. Parker selling 110,000 shares for about $7.95 million, marking an 11.55% decrease in his ownership of the stock.
• NIKE recently announced a quarterly dividend of $0.40 per share, representing an annual yield of 2.3%, to be paid on October 1st.

TBH Global Asset Management LLC reduced its position in NIKE, Inc. (NYSE:NKE - Free Report) by 45.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,224 shares of the footwear maker's stock after selling 4,322 shares during the period. TBH Global Asset Management LLC's holdings in NIKE were worth $371,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of NKE. Brighton Jones LLC raised its holdings in NIKE by 388.5% in the 4th quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker's stock worth $15,316,000 after purchasing an additional 160,980 shares during the period. Centaurus Financial Inc. raised its holdings in NIKE by 9.6% during the fourth quarter. Centaurus Financial Inc. now owns 2,258 shares of the footwear maker's stock valued at $171,000 after acquiring an additional 198 shares during the period. MassMutual Private Wealth & Trust FSB raised its holdings in NIKE by 13.1% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 7,319 shares of the footwear maker's stock valued at $465,000 after acquiring an additional 849 shares during the period. Versant Capital Management Inc raised its holdings in NIKE by 156.6% during the first quarter. Versant Capital Management Inc now owns 6,017 shares of the footwear maker's stock valued at $382,000 after acquiring an additional 3,672 shares during the period. Finally, Quent Capital LLC raised its holdings in NIKE by 16.2% during the first quarter. Quent Capital LLC now owns 2,631 shares of the footwear maker's stock valued at $167,000 after acquiring an additional 366 shares during the period. 64.25% of the stock is owned by institutional investors.

Insider Transactions at NIKE

In related news, Chairman Mark G. Parker sold 110,000 shares of the 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 transaction, the chairman 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.80% of the stock is currently owned by company insiders.

NIKE Trading Up 0.1%

NKE opened at $69.31 on Friday. NIKE, Inc. has a one year low of $52.28 and a one year high of $90.26. The stock has a market cap of $102.36 billion, a price-to-earnings ratio of 32.09, a P/E/G ratio of 2.52 and a beta of 1.24. The stock's 50 day moving average price is $74.99 and its 200-day moving average price is $67.30. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.50 and a current ratio of 2.21.

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 (EPS) for the quarter, topping 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 for the quarter, compared to analysts' expectations of $10.69 billion. During the same quarter in the prior year, the firm earned $0.99 earnings per share. NIKE's revenue was down 11.9% compared to the same quarter last year. On average, equities analysts forecast that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd will be paid a $0.40 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $1.60 annualized dividend and a yield of 2.3%. NIKE's dividend payout ratio is 74.07%.

Analyst Ratings Changes

Several brokerages have recently issued reports on NKE. Evercore ISI reduced their target price on NIKE from $97.00 to $75.00 and set an "outperform" rating on the stock in a report on Tuesday, June 24th. Robert W. Baird lifted their target price on NIKE from $80.00 to $88.00 and gave the stock an "outperform" rating in a report on Friday, June 27th. Barclays lifted their target price on NIKE from $64.00 to $65.00 and gave the stock an "equal weight" rating in a report on Thursday, September 18th. Bank of America lifted their target price on NIKE from $80.00 to $84.00 and gave the stock a "buy" rating in a report on Friday, June 27th. Finally, Zacks Research upgraded NIKE from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 26th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and ten have given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $79.62.

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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