Prudent Man Advisors LLC Sells 261 Shares of NIKE, Inc. $NKE

Prudent Man Advisors LLC lessened its stake in NIKE, Inc. (NYSE:NKE) by 3.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,101 shares of the footwear maker’s stock after selling 261 shares during the period. Prudent Man Advisors LLC’s holdings in NIKE were worth $504,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of NKE. Goldman Sachs Group Inc. raised its position in NIKE by 344.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 26,698,835 shares of the footwear maker’s stock worth $1,694,842,000 after purchasing an additional 20,688,013 shares during 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 acquiring an additional 9,043,180 shares during the last quarter. Jennison Associates LLC bought a new stake in shares of NIKE during the 1st quarter valued at $509,051,000. Nuveen LLC bought a new stake in shares of NIKE during the 1st quarter valued at $502,285,000. Finally, 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 acquiring an additional 4,957,494 shares during the last quarter. Institutional investors own 64.25% of the company’s stock.

Analyst Upgrades and Downgrades

NKE has been the subject of several recent research reports. Telsey Advisory Group reiterated a “market perform” rating and set a $75.00 target price on shares of NIKE in a research report on Wednesday, October 1st. Needham & Company LLC reiterated a “buy” rating and set a $78.00 target price on shares of NIKE in a research report on Wednesday, October 1st. Citigroup upgraded shares of NIKE from a “neutral” rating to a “positive” rating in a research report on Friday, September 19th. KeyCorp set a $90.00 target price on shares of NIKE and gave the company an “overweight” rating in a research report on Thursday, October 2nd. Finally, Zacks Research upgraded shares of NIKE from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 26th. Three research analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, NIKE currently has an average rating of “Moderate Buy” and a consensus target price of $82.21.

NIKE Price Performance

Shares of NKE stock opened at $69.15 on Friday. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $82.44. The firm has a market capitalization of $102.22 billion, a price-to-earnings ratio of 35.46, a price-to-earnings-growth ratio of 2.55 and a beta of 1.29. The company has a quick ratio of 1.45, a current ratio of 2.19 and a debt-to-equity ratio of 0.59. The firm has a fifty day moving average of $72.38 and a 200-day moving average of $67.88.

NIKE (NYSE:NKE) last announced its earnings results on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.22. The firm had revenue of $11.72 billion during the quarter, compared to analyst estimates of $10.96 billion. NIKE had a net margin of 6.23% and a return on equity of 21.16%. The company’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.70 EPS. On average, equities research analysts forecast 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. Investors of record on Tuesday, September 2nd were paid a $0.40 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.3%. NIKE’s dividend payout ratio is presently 82.05%.

Insiders Place Their Bets

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

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.