NIKE, Inc. $NKE Shares Sold by Checchi Capital Advisers LLC

Checchi Capital Advisers LLC decreased its stake in shares of NIKE, Inc. (NYSE:NKE) by 19.8% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 6,844 shares of the footwear maker’s stock after selling 1,688 shares during the quarter. Checchi Capital Advisers LLC’s holdings in NIKE were worth $486,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the company. Caldwell Sutter Capital Inc. increased its holdings in shares of NIKE by 6.3% in the 2nd quarter. Caldwell Sutter Capital Inc. now owns 2,390 shares of the footwear maker’s stock valued at $170,000 after acquiring an additional 142 shares during the last quarter. Westmount Partners LLC boosted its holdings in NIKE by 2.9% in the second quarter. Westmount Partners LLC now owns 5,165 shares of the footwear maker’s stock worth $367,000 after purchasing an additional 146 shares during the period. HB Wealth Management LLC increased its stake in NIKE by 0.3% during the second quarter. HB Wealth Management LLC now owns 52,012 shares of the footwear maker’s stock valued at $3,695,000 after purchasing an additional 147 shares during the last quarter. Matrix Trust Co raised its holdings in shares of NIKE by 53.1% during the second 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 period. Finally, Summit Financial Strategies Inc. lifted its position in shares of NIKE by 3.8% in the 2nd quarter. Summit Financial Strategies Inc. now owns 4,270 shares of the footwear maker’s stock worth $303,000 after buying an additional 155 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity 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 value of $6,535,902.54. Following the completion of the sale, the chairman directly 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 link. Company insiders own 0.80% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Barclays set a $70.00 price objective on shares of NIKE and gave the company a “positive” rating in a research report on Wednesday, October 1st. HSBC raised NIKE from a “hold” rating to a “buy” rating and set a $80.00 target price for the company in a report on Friday, June 27th. Robert W. Baird raised their price target on NIKE from $80.00 to $88.00 and gave the stock an “outperform” rating in a report on Friday, June 27th. Hsbc Global Res upgraded NIKE from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 27th. Finally, KeyCorp set a $90.00 target price on NIKE and gave the stock an “overweight” rating in a research report on Thursday. Three investment analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, NIKE currently has a consensus rating of “Moderate Buy” and an average target price of $81.57.

NIKE Stock Down 0.9%

NKE opened at $71.25 on Tuesday. The stock’s 50 day moving average price is $74.46 and its 200 day moving average price is $67.26. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.19 and a quick ratio of 1.45. The stock has a market cap of $105.23 billion, a P/E ratio of 36.54, a P/E/G ratio of 2.64 and a beta of 1.29. NIKE, Inc. has a 12 month low of $52.28 and a 12 month high of $84.76.

NIKE (NYSE:NKE) last released its quarterly earnings results on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.22. NIKE had a return on equity of 21.16% and a net margin of 6.23%.The company had revenue of $11.72 billion during the quarter, compared to analysts’ expectations of $10.96 billion. During the same quarter in the prior year, the business posted $0.70 earnings per share. The company’s revenue for the quarter was up 1.0% compared to the same quarter last year. As a group, research analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd were paid 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 yield of 2.2%. NIKE’s dividend payout ratio (DPR) is presently 82.05%.

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.