Patten Group Inc. Decreases Stake in NIKE, Inc. $NKE

Patten Group Inc. reduced its stake in NIKE, Inc. (NYSE:NKE) by 15.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,543 shares of the footwear maker’s stock after selling 668 shares during the period. Patten Group Inc.’s holdings in NIKE were worth $252,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Brighton Jones LLC increased its stake in shares of NIKE by 388.5% during the fourth quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker’s stock valued at $15,316,000 after buying an additional 160,980 shares during the period. GAMMA Investing LLC increased its stake in shares of NIKE by 39.1% during the first quarter. GAMMA Investing LLC now owns 20,877 shares of the footwear maker’s stock valued at $1,325,000 after buying an additional 5,863 shares during the period. Cambridge Investment Research Advisors Inc. increased its stake in shares of NIKE by 9.7% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 122,092 shares of the footwear maker’s stock valued at $7,750,000 after buying an additional 10,823 shares during the period. Flagship Harbor Advisors LLC increased its stake in shares of NIKE by 6.8% during the first quarter. Flagship Harbor Advisors LLC now owns 13,732 shares of the footwear maker’s stock valued at $872,000 after buying an additional 870 shares during the period. Finally, Oppenheimer & Co. Inc. increased its stake in shares of NIKE by 1.6% during the first quarter. Oppenheimer & Co. Inc. now owns 70,684 shares of the footwear maker’s stock valued at $4,487,000 after buying an additional 1,127 shares during the period. 64.25% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at NIKE

In other NIKE news, EVP Treasure Heinle sold 4,300 shares of the business’s stock in a transaction on Monday, October 6th. The stock was sold at an average price of $71.27, for a total value of $306,461.00. Following the sale, the executive vice president directly owned 29,396 shares of the company’s stock, valued at approximately $2,095,052.92. The trade was a 12.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Mark G. Parker sold 86,078 shares of the business’s stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $75.93, for a total value of $6,535,902.54. Following the completion of the transaction, the chairman owned 744,988 shares of the company’s stock, valued at $56,566,938.84. This represents a 10.36% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.80% of the company’s stock.

NIKE Trading Up 1.0%

NIKE stock opened at $69.03 on Thursday. The company has a current ratio of 2.19, a quick ratio of 1.45 and a debt-to-equity ratio of 0.59. The business’s fifty day simple moving average is $72.67 and its two-hundred day simple moving average is $67.57. NIKE, Inc. has a 12 month low of $52.28 and a 12 month high of $82.44. The company has a market capitalization of $102.03 billion, a price-to-earnings ratio of 35.40, a price-to-earnings-growth ratio of 2.52 and a beta of 1.29.

NIKE (NYSE:NKE) last released its earnings results on Tuesday, September 30th. The footwear maker reported $0.49 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 business had revenue of $11.72 billion for the quarter, compared to the consensus estimate of $10.96 billion. During the same period in the previous year, the company 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, equities analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current fiscal 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 issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Tuesday, September 2nd. NIKE’s payout ratio is 82.05%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. boosted their target price on NIKE from $93.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, October 1st. Robert W. Baird boosted their target price on NIKE from $80.00 to $88.00 and gave the company an “outperform” rating in a research note on Friday, June 27th. Bank of America boosted their target price on NIKE from $80.00 to $84.00 and gave the company a “buy” rating in a research note on Friday, June 27th. Wall Street Zen upgraded NIKE from a “sell” rating to a “hold” rating in a research report on Saturday, September 6th. Finally, Zacks Research upgraded NIKE from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 26th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $82.21.

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.