Vision Capital Management Inc. cut its position in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 18.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 62,802 shares of the footwear maker's stock after selling 13,772 shares during the period. Vision Capital Management Inc.'s holdings in NIKE were worth $4,461,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of NKE. Stone House Investment Management LLC acquired a new position in shares of NIKE during the 1st quarter worth about $25,000. Saudi Central Bank acquired a new position in shares of NIKE during the 1st quarter worth about $30,000. 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. Opal Wealth Advisors LLC bought a new stake in shares of NIKE during the 2nd quarter worth about $35,000. Finally, Roxbury Financial LLC boosted its holdings in shares of NIKE by 52.1% during the 1st quarter. Roxbury Financial LLC now owns 587 shares of the footwear maker's stock worth $37,000 after buying an additional 201 shares during the period. 64.25% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling at NIKE
In other news, Chairman Mark G. Parker sold 86,078 shares of the company's stock in a transaction that occurred on Thursday, August 14th. The shares were 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 owned 744,988 shares of the company's stock, valued at approximately $56,566,938.84. This represents a 10.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.80% of the company's stock.
NIKE Stock Performance
NYSE NKE opened at $69.32 on Friday. The company has a quick ratio of 1.50, a current ratio of 2.21 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $102.38 billion, a P/E ratio of 32.09, a P/E/G ratio of 2.59 and a beta of 1.24. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $90.62. The firm has a 50-day moving average price of $75.05 and a two-hundred day moving average price of $67.38.
NIKE (NYSE:NKE - Get Free Report) last posted its quarterly earnings data on Thursday, June 26th. The footwear maker reported $0.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.12 by $0.02. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The firm had revenue of $11.10 billion during the quarter, compared to the consensus estimate of $10.69 billion. During the same quarter in the previous year, the firm posted $0.99 EPS. The business's revenue for the quarter was down 11.9% compared to the same quarter last year. Analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current year.
NIKE Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Tuesday, September 2nd. NIKE's dividend payout ratio is 74.07%.
Wall Street Analyst Weigh In
NKE has been the subject of several research analyst reports. Zacks Research raised shares of NIKE from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 26th. Wall Street Zen raised shares of NIKE from a "sell" rating to a "hold" rating in a report on Saturday, September 6th. Morgan Stanley lifted their target price on shares of NIKE from $64.00 to $70.00 and gave the stock an "equal weight" rating in a report on Tuesday. Cowen raised shares of NIKE from a "hold" rating to a "buy" rating in a report on Wednesday, September 10th. Finally, JPMorgan Chase & Co. raised shares of NIKE from a "neutral" rating to an "overweight" rating and lifted their target price for the stock from $64.00 to $93.00 in a report on Monday, July 28th. Three 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 stock. According to MarketBeat, NIKE currently has an average rating of "Moderate Buy" and an average price target of $79.46.
Read Our Latest Stock Report on NIKE
About NIKE
(
Free Report)
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.
See Also
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