Vest Financial LLC Sells 73,049 Shares of NIKE, Inc. $NKE

Key Points

• Vest Financial LLC reduced its holdings in NIKE, Inc. by 31.0%, selling 73,049 shares and now owning 162,424 shares valued at approximately $11.54 million.
• NIKE reported earnings for the quarter, with an EPS of $0.49, surpassing expectations of $0.27, and total revenue of $11.72 billion against an anticipated $10.96 billion.
• The company announced a quarterly dividend of $0.40 per share, representing a 2.4% yield, with a payout ratio of 82.05%.

Vest Financial LLC cut its holdings in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 31.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 162,424 shares of the footwear maker's stock after selling 73,049 shares during the quarter. Vest Financial LLC's holdings in NIKE were worth $11,539,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Caldwell Sutter Capital Inc. increased its stake in shares of NIKE by 6.3% during the 2nd quarter. Caldwell Sutter Capital Inc. now owns 2,390 shares of the footwear maker's stock worth $170,000 after purchasing an additional 142 shares during the last quarter. Westmount Partners LLC increased its stake in shares of NIKE by 2.9% during the 2nd quarter. Westmount Partners LLC now owns 5,165 shares of the footwear maker's stock worth $367,000 after purchasing an additional 146 shares during the last quarter. HB Wealth Management LLC increased its stake in shares of NIKE by 0.3% during the 2nd quarter. HB Wealth Management LLC now owns 52,012 shares of the footwear maker's stock worth $3,695,000 after purchasing an additional 147 shares during the last quarter. Matrix Trust Co increased its stake in shares of NIKE by 53.1% during the 2nd 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 last quarter. Finally, Summit Financial Strategies Inc. increased its stake in shares of NIKE by 3.8% during the 2nd quarter. Summit Financial Strategies Inc. now owns 4,270 shares of the footwear maker's stock worth $303,000 after purchasing an additional 155 shares during the last quarter. 64.25% of the stock is owned by institutional investors.

NIKE Stock Up 3.3%

Shares of NKE opened at $67.39 on Tuesday. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $84.76. The firm has a market cap of $99.61 billion, a P/E ratio of 34.56, a price-to-earnings-growth ratio of 2.38 and a beta of 1.29. The firm's 50-day simple moving average is $73.66 and its 200 day simple moving average is $67.33. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.45 and a current ratio of 2.19.

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

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd were issued 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 2.4%. NIKE's dividend payout ratio (DPR) is currently 82.05%.

Analyst Ratings Changes

Several research analysts have recently weighed in on NKE shares. UBS Group set a $71.00 price objective on shares of NIKE and gave the stock a "neutral" rating in a research note on Friday, September 19th. DZ Bank upgraded shares of NIKE from a "hold" rating to a "buy" rating in a research note on Wednesday, October 1st. Royal Bank Of Canada restated an "outperform" rating on shares of NIKE in a research note on Friday. TD Cowen upgraded shares of NIKE from a "hold" rating to a "buy" rating and upped their price target for the company from $62.00 to $85.00 in a research note on Wednesday, September 10th. Finally, Citigroup upgraded shares of NIKE from a "neutral" rating to a "positive" rating in a research note on Friday, September 19th. Three analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat.com, NIKE has a consensus rating of "Moderate Buy" and a consensus price target of $81.57.

Insider Activity at NIKE

In other news, Chairman Mark G. Parker sold 110,000 shares of the firm's stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $72.29, for a total transaction of $7,951,900.00. Following the transaction, the chairman directly owned 842,361 shares of the company's stock, valued at approximately $60,894,276.69. This trade 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 can be accessed through this hyperlink. Also, EVP Treasure Heinle sold 4,300 shares of the stock in a transaction that occurred on Monday, October 6th. The stock was sold at an average price of $71.27, for a total transaction of $306,461.00. Following the sale, the executive vice president owned 29,396 shares in the company, valued at $2,095,052.92. This represents a 12.76% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 200,378 shares of company stock worth $14,794,264 over the last ninety days. Insiders own 0.80% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.