Koshinski Asset Management Inc. Sells 1,921 Shares of NIKE, Inc. $NKE

Koshinski Asset Management Inc. trimmed its position in NIKE, Inc. (NYSE:NKE) by 21.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,912 shares of the footwear maker’s stock after selling 1,921 shares during the period. Koshinski Asset Management Inc.’s holdings in NIKE were worth $491,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of NKE. Vanguard Group Inc. raised its position in shares of NIKE by 4.6% during the 1st quarter. Vanguard Group Inc. now owns 113,151,080 shares of the footwear maker’s stock valued at $7,182,831,000 after buying an additional 4,957,494 shares in the last quarter. Wellington Management Group LLP raised its position in shares of NIKE by 24.9% during the 1st quarter. Wellington Management Group LLP now owns 45,383,916 shares of the footwear maker’s stock valued at $2,880,971,000 after buying an additional 9,043,180 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of NIKE by 344.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 26,698,835 shares of the footwear maker’s stock valued at $1,694,842,000 after buying an additional 20,688,013 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of NIKE by 3.0% during the 1st quarter. Bank of New York Mellon Corp now owns 20,988,207 shares of the footwear maker’s stock valued at $1,332,331,000 after buying an additional 620,214 shares in the last quarter. Finally, Flossbach Von Storch SE raised its position in shares of NIKE by 24.0% during the 1st quarter. Flossbach Von Storch SE now owns 10,286,619 shares of the footwear maker’s stock valued at $652,995,000 after buying an additional 1,988,547 shares in the last quarter. 64.25% of the stock is owned by institutional investors.

Insider Activity

In related news, EVP Treasure Heinle sold 4,300 shares of the business’s stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $71.27, for a total transaction of $306,461.00. Following the transaction, the executive vice president owned 29,396 shares in the company, valued at $2,095,052.92. The trade was a 12.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Mark G. Parker sold 86,078 shares of the business’s stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $75.93, for a total transaction of $6,535,902.54. Following the transaction, the chairman owned 744,988 shares in the company, valued at $56,566,938.84. This represents a 10.36% decrease in their position. The disclosure for this sale can be found here. 0.80% of the stock is owned by insiders.

NIKE Price Performance

NKE stock opened at $67.71 on Tuesday. The firm’s 50-day moving average price is $72.97 and its two-hundred day moving average price is $67.56. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $83.09. The stock has a market capitalization of $100.09 billion, a price-to-earnings ratio of 34.72, a PEG ratio of 2.48 and a beta of 1.29. The company has a current ratio of 2.19, a quick ratio of 1.45 and a debt-to-equity ratio of 0.59.

NIKE (NYSE:NKE) last released its quarterly earnings data on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.22. NIKE had a net margin of 6.23% and a return on equity of 21.16%. The firm had revenue of $11.72 billion for the quarter, compared to analysts’ expectations of $10.96 billion. During the same quarter in the previous year, the company earned $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, equities analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd were given a $0.40 dividend. The ex-dividend date was Tuesday, September 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.4%. NIKE’s payout ratio is presently 82.05%.

Analysts Set New Price Targets

A number of equities analysts recently commented on NKE shares. KeyCorp set a $90.00 target price on shares of NIKE and gave the stock an “overweight” rating in a research report on Thursday, October 2nd. Needham & Company LLC reiterated a “buy” rating and issued a $78.00 target price on shares of NIKE in a research report on Wednesday, October 1st. Argus upgraded shares of NIKE to a “buy” rating in a research report on Sunday, July 6th. HSBC upgraded shares of NIKE from a “hold” rating to a “buy” rating and set a $80.00 target price on the stock in a research report on Friday, June 27th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $115.00 target price on shares of NIKE in a research report on Monday, September 29th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, NIKE presently has an average rating of “Moderate Buy” and a consensus price target of $82.21.

NIKE Company 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.