NIKE, Inc. (NYSE:NKE) Shares Sold by Perfromance Wealth Partners LLC

Perfromance Wealth Partners LLC lessened its stake in NIKE, Inc. (NYSE:NKEGet Rating) by 2.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 83,617 shares of the footwear maker’s stock after selling 1,850 shares during the quarter. NIKE comprises about 0.5% of Perfromance Wealth Partners LLC’s holdings, making the stock its 24th largest holding. Perfromance Wealth Partners LLC’s holdings in NIKE were worth $8,546,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. FNY Investment Advisers LLC acquired a new stake in NIKE during the first quarter worth $26,000. Antonetti Capital Management LLC grew its stake in shares of NIKE by 900.0% in the first quarter. Antonetti Capital Management LLC now owns 200 shares of the footwear maker’s stock valued at $27,000 after buying an additional 180 shares in the last quarter. Alpha Paradigm Partners LLC acquired a new stake in shares of NIKE in the fourth quarter valued at $31,000. Worth Asset Management LLC acquired a new stake in shares of NIKE in the first quarter valued at $32,000. Finally, Mark Sheptoff Financial Planning LLC grew its stake in shares of NIKE by 6,250.0% in the first quarter. Mark Sheptoff Financial Planning LLC now owns 254 shares of the footwear maker’s stock valued at $34,000 after buying an additional 250 shares in the last quarter. Institutional investors and hedge funds own 64.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on NKE. JPMorgan Chase & Co. set a $130.00 target price on NIKE in a report on Wednesday, August 10th. Deutsche Bank Aktiengesellschaft decreased their target price on NIKE from $130.00 to $123.00 and set a “buy” rating for the company in a report on Wednesday. Royal Bank of Canada began coverage on NIKE in a report on Thursday. They issued an “outperform” rating and a $125.00 target price for the company. Guggenheim decreased their target price on NIKE from $160.00 to $155.00 and set a “buy” rating for the company in a report on Tuesday, June 28th. Finally, BMO Capital Markets decreased their target price on NIKE from $142.00 to $128.00 and set an “outperform” rating for the company in a report on Tuesday, June 28th. Eleven research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, NIKE has a consensus rating of “Moderate Buy” and an average price target of $131.81.

NIKE Stock Performance

NKE stock traded down $1.50 during trading on Friday, hitting $97.05. The company had a trading volume of 650,814 shares, compared to its average volume of 6,103,385. The firm has a market cap of $152.23 billion, a PE ratio of 25.52, a price-to-earnings-growth ratio of 2.11 and a beta of 1.03. NIKE, Inc. has a 1-year low of $97.83 and a 1-year high of $179.10. The firm has a 50-day moving average price of $109.72 and a 200-day moving average price of $115.81. The company has a quick ratio of 1.84, a current ratio of 2.63 and a debt-to-equity ratio of 0.58.

NIKE (NYSE:NKEGet Rating) last issued its quarterly earnings results on Monday, June 27th. The footwear maker reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.09. The firm had revenue of $12.20 billion for the quarter, compared to analysts’ expectations of $12.10 billion. NIKE had a return on equity of 40.74% and a net margin of 12.94%. The firm’s revenue for the quarter was down .8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.93 EPS. On average, analysts expect that NIKE, Inc. will post 3.78 earnings per share for the current year.

NIKE Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Tuesday, September 6th will be given a $0.305 dividend. This represents a $1.22 annualized dividend and a yield of 1.26%. The ex-dividend date is Friday, September 2nd. NIKE’s dividend payout ratio (DPR) is presently 32.45%.

NIKE declared that its board has initiated a stock buyback program on Monday, June 27th that allows the company to buyback $18.00 billion in outstanding shares. This buyback authorization allows the footwear maker to reacquire up to 11% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its stock is undervalued.

Insider Activity at NIKE

In related news, Director John W. Rogers, Jr. purchased 10,000 shares of the company’s stock in a transaction that occurred on Thursday, June 30th. The shares were purchased at an average price of $102.96 per share, for a total transaction of $1,029,600.00. Following the transaction, the director now directly owns 25,681 shares of the company’s stock, valued at approximately $2,644,115.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other NIKE news, EVP Monique S. Matheson sold 19,500 shares of the business’s stock in a transaction that occurred on Tuesday, July 5th. The stock was sold at an average price of $103.45, for a total transaction of $2,017,275.00. Following the transaction, the executive vice president now owns 80,355 shares in the company, valued at approximately $8,312,724.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John W. Rogers, Jr. bought 10,000 shares of the company’s stock in a transaction on Thursday, June 30th. The shares were acquired at an average price of $102.96 per share, for a total transaction of $1,029,600.00. Following the transaction, the director now directly owns 25,681 shares in the company, valued at approximately $2,644,115.76. The disclosure for this purchase can be found here. Insiders have sold 59,561 shares of company stock worth $6,374,094 in the last quarter. Company insiders own 0.40% of the company’s stock.

NIKE Profile

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NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells men's, women's, and kids athletic footwear, apparel, equipment, and accessories 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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Institutional Ownership by Quarter for NIKE (NYSE:NKE)

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