Wendell David Associates Inc. Sells 10,905 Shares of NIKE, Inc. $NKE

Key Points

• Wendell David Associates Inc. reduced its stake in NIKE, Inc. by 7.3%, selling 10,905 shares to end up with 137,999 shares, valued at approximately $9.8 million.
• In recent insider activity, EVP Treasure Heinle sold 4,300 shares, and Chairman Mark G. Parker sold 86,078 shares, representing decreases of 12.76% and 10.36% in their positions respectively.
• NIKE reported a quarterly earnings per share (EPS) of $0.49, exceeding estimates by $0.22, and achieved revenues of $11.72 billion, up 1.0% year-over-year.

Wendell David Associates Inc. lowered its stake in NIKE, Inc. (NYSE:NKE - Free Report) by 7.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 137,999 shares of the footwear maker's stock after selling 10,905 shares during the quarter. NIKE makes up approximately 1.0% of Wendell David Associates Inc.'s investment portfolio, making the stock its 29th largest position. Wendell David Associates Inc.'s holdings in NIKE were worth $9,803,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Stone House Investment Management LLC bought a new position in NIKE in the 1st quarter valued at approximately $25,000. Mascoma Wealth Management LLC bought a new position in NIKE in the 2nd quarter valued at approximately $26,000. Halbert Hargrove Global Advisors LLC raised its holdings in NIKE by 952.6% in the 2nd quarter. Halbert Hargrove Global Advisors LLC now owns 400 shares of the footwear maker's stock valued at $28,000 after buying an additional 362 shares during the last quarter. Saudi Central Bank bought a new position in NIKE in the 1st quarter valued at approximately $30,000. Finally, Matrix Trust Co raised its holdings in NIKE by 53.1% in the 2nd quarter. Matrix Trust Co now owns 441 shares of the footwear maker's stock valued at $31,000 after buying an additional 153 shares during the last quarter. Institutional investors own 64.25% of the company's stock.

Insider Activity at NIKE

In other news, EVP Treasure Heinle sold 4,300 shares of the firm's stock in a transaction that occurred on Monday, October 6th. The shares were sold at an average price of $71.27, for a total transaction of $306,461.00. Following the completion of the sale, the executive vice president owned 29,396 shares of the company's stock, valued at $2,095,052.92. This trade represents a 12.76% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Mark G. Parker sold 86,078 shares of the firm's stock in a transaction that occurred 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 sale, the chairman directly owned 744,988 shares of the company's stock, valued at approximately $56,566,938.84. This trade represents a 10.36% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.80% of the company's stock.

NIKE Stock Performance

Shares of NKE stock opened at $67.46 on Friday. The company has a market cap of $99.72 billion, a price-to-earnings ratio of 34.59, a price-to-earnings-growth ratio of 2.48 and a beta of 1.29. NIKE, Inc. has a 52 week low of $52.28 and a 52 week 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 firm has a 50 day moving average of $73.10 and a 200-day moving average of $67.40.

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

NIKE Announces Dividend

The business also recently disclosed 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 2.4%. NIKE's dividend payout ratio (DPR) is 82.05%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Cowen upgraded shares of NIKE from a "hold" rating to a "buy" rating in a report on Wednesday, September 10th. Citigroup upgraded shares of NIKE from a "neutral" rating to a "positive" rating in a report on Friday, September 19th. Argus upgraded shares of NIKE to a "buy" rating in a report on Sunday, July 6th. HSBC upgraded shares of NIKE from a "hold" rating to a "buy" rating and set a $80.00 price target for the company in a report on Friday, June 27th. Finally, Hsbc Global Res upgraded shares of NIKE from a "hold" rating to a "strong-buy" rating in a report on Friday, June 27th. Three analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $82.21.

About NIKE

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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