Polaris Wealth Advisory Group LLC cut its stake in NIKE, Inc. (NYSE:NKE) by 99.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,954 shares of the footwear maker’s stock after selling 237,045 shares during the period. Polaris Wealth Advisory Group LLC’s holdings in NIKE were worth $250,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Perennial Advisors LLC bought a new stake in NIKE in the first quarter valued at approximately $30,000. Sound Income Strategies LLC boosted its holdings in NIKE by 163.8% in the third quarter. Sound Income Strategies LLC now owns 248 shares of the footwear maker’s stock valued at $31,000 after acquiring an additional 154 shares during the last quarter. Demars Financial Group LLC bought a new stake in NIKE in the second quarter valued at approximately $42,000. U S Global Investors Inc. bought a new stake in NIKE in the second quarter valued at approximately $53,000. Finally, Campbell Wealth Management bought a new stake in NIKE in the second quarter valued at approximately $64,000. Institutional investors and hedge funds own 64.20% of the company’s stock.
In other news, Chairman Mark G. Parker sold 75,000 shares of the stock in a transaction on Wednesday, October 7th. The stock was sold at an average price of $129.90, for a total transaction of $9,742,500.00. Following the completion of the transaction, the chairman now owns 1,498,635 shares in the company, valued at approximately $194,672,686.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Hilary K. Krane sold 11,000 shares of the stock in a transaction on Wednesday, October 14th. The stock was sold at an average price of $129.53, for a total value of $1,424,830.00. The disclosure for this sale can be found here. Insiders sold a total of 841,962 shares of company stock valued at $103,292,012 in the last 90 days. Corporate insiders own 3.80% of the company’s stock.
NYSE NKE opened at $128.00 on Friday. The firm has a market capitalization of $199.67 billion, a P/E ratio of 76.65, a PEG ratio of 2.80 and a beta of 0.80. The business has a fifty day simple moving average of $120.42 and a 200 day simple moving average of $101.42. NIKE, Inc. has a 12 month low of $60.00 and a 12 month high of $131.34. The company has a current ratio of 2.55, a quick ratio of 1.77 and a debt-to-equity ratio of 1.02.
NIKE (NYSE:NKE) last released its quarterly earnings results on Tuesday, September 22nd. The footwear maker reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.49. The business had revenue of $10.59 billion during the quarter, compared to analyst estimates of $9.15 billion. NIKE had a return on equity of 34.62% and a net margin of 7.20%. NIKE’s quarterly revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.27 EPS. As a group, sell-side analysts predict that NIKE, Inc. will post 2.78 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Monday, August 31st were paid a $0.245 dividend. The ex-dividend date of this dividend was Friday, August 28th. This represents a $0.98 dividend on an annualized basis and a yield of 0.77%. NIKE’s dividend payout ratio (DPR) is presently 52.97%.
A number of research firms have issued reports on NKE. Needham & Company LLC increased their price target on NIKE from $113.00 to $132.00 and gave the stock a “buy” rating in a report on Friday, September 18th. TheStreet upgraded NIKE from a “c+” rating to a “b” rating in a report on Tuesday, September 22nd. Morgan Stanley increased their price target on NIKE from $121.00 to $142.00 and gave the stock an “overweight” rating in a report on Friday, September 18th. Credit Suisse Group set a $154.00 price target on NIKE and gave the stock an “outperform” rating in a report on Wednesday, September 23rd. Finally, Bank of America increased their price target on NIKE from $130.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, September 23rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-nine have assigned a buy rating and one has assigned a strong buy rating to the stock. NIKE presently has a consensus rating of “Buy” and an average price target of $137.03.
NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories, including running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, golf, lacrosse, skateboarding, tennis, volleyball, walking, wrestling, and other outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.
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