Windward Capital Management Co. CA Reduces Stock Position in NIKE, Inc. (NYSE:NKE)

Key Points

• Windward Capital Management Co. CA reduced its stake in NIKE, Inc. by 1.2%, now holding 308,075 shares valued at approximately $19.56 million.
• Insider selling was reported with Chairman Mark G. Parker selling 110,000 shares for nearly $8 million, reflecting an 11.55% decrease in his holdings.
• NIKE's stock has an average rating of "Moderate Buy" from analysts, with a current target price averaging $78.22.

Windward Capital Management Co. CA cut its stake in NIKE, Inc. (NYSE:NKE - Free Report) by 1.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 308,075 shares of the footwear maker's stock after selling 3,792 shares during the period. NIKE makes up approximately 1.7% of Windward Capital Management Co. CA's holdings, making the stock its 20th largest holding. Windward Capital Management Co. CA's holdings in NIKE were worth $19,557,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Stone House Investment Management LLC purchased a new position in shares of NIKE during the 1st quarter worth approximately $25,000. Heck Capital Advisors LLC purchased a new position in shares of NIKE during the 4th quarter worth approximately $28,000. Roxbury Financial LLC increased its stake 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 purchasing an additional 201 shares in the last quarter. N.E.W. Advisory Services LLC purchased a new position in shares of NIKE during the 1st quarter worth approximately $37,000. Finally, Putney Financial Group LLC purchased a new position in shares of NIKE during the 4th quarter worth approximately $40,000. 64.25% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on NKE shares. UBS Group started coverage on shares of NIKE in a research note on Sunday, July 6th. They set a "buy" rating for the company. Robert W. Baird raised their price objective on shares of NIKE from $80.00 to $88.00 and gave the stock an "outperform" rating in a research note on Friday, June 27th. Wells Fargo & Company raised their price objective on shares of NIKE from $55.00 to $60.00 and gave the stock an "equal weight" rating in a research note on Wednesday, May 14th. DZ Bank lowered shares of NIKE from a "buy" rating to a "hold" rating and set a $76.00 target price on the stock. in a research report on Thursday, July 10th. Finally, Telsey Advisory Group restated a "market perform" rating and set a $70.00 target price on shares of NIKE in a research report on Friday, June 27th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, seventeen have assigned a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $78.22.

Insider Buying and Selling at NIKE

In other news, Chairman Mark G. Parker sold 110,000 shares of the business's stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $72.29, for a total value of $7,951,900.00. Following the completion of the sale, the chairman owned 842,361 shares of the company's stock, valued at approximately $60,894,276.69. The trade was a 11.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.80% of the company's stock.

NIKE Stock Performance

NIKE stock opened at $77.17 on Friday. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $90.62. The company has a market capitalization of $113.97 billion, a price-to-earnings ratio of 35.73, a price-to-earnings-growth ratio of 2.80 and a beta of 1.27. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.21 and a quick ratio of 1.50. The firm's fifty day moving average price is $71.05 and its 200 day moving average price is $67.63.

NIKE (NYSE:NKE - Get Free Report) last released its quarterly earnings results 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 net margin of 6.95% and a return on equity of 23.33%. The firm had revenue of $11.10 billion for 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 firm's quarterly revenue was down 11.9% on a year-over-year basis. On average, research analysts forecast that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd will be given a $0.40 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.1%. NIKE's payout ratio is presently 74.07%.

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.

Want to see what other hedge funds are holding NKE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NIKE, Inc. (NYSE:NKE - Free Report).

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.