Transcend Capital Advisors LLC Reduces Stock Position in NIKE, Inc. $NKE

Transcend Capital Advisors LLC lessened its stake in shares of NIKE, Inc. (NYSE:NKE) by 14.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 26,597 shares of the footwear maker’s stock after selling 4,619 shares during the quarter. Transcend Capital Advisors LLC’s holdings in NIKE were worth $1,889,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Stone House Investment Management LLC purchased a new position in NIKE in the first quarter worth about $25,000. Mascoma Wealth Management LLC purchased a new position in NIKE in the second quarter worth about $26,000. Halbert Hargrove Global Advisors LLC boosted its position in NIKE by 952.6% in the second quarter. Halbert Hargrove Global Advisors LLC now owns 400 shares of the footwear maker’s stock worth $28,000 after purchasing an additional 362 shares during the last quarter. Saudi Central Bank purchased a new position in NIKE in the first quarter worth about $30,000. Finally, Matrix Trust Co boosted its position in NIKE by 53.1% in 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 last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

NIKE Stock Down 0.9%

Shares of NKE opened at $68.51 on Tuesday. The business’s 50 day moving average is $72.20 and its 200 day moving average is $68.01. The company has a market capitalization of $101.26 billion, a PE ratio of 35.13, a price-to-earnings-growth ratio of 2.55 and a beta of 1.29. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $82.44. 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 issued its earnings results on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.22. The company had revenue of $11.72 billion for the quarter, compared to the consensus estimate of $10.96 billion. NIKE had a return on equity of 21.16% and a net margin of 6.23%.The firm’s quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter last year, the company earned $0.70 EPS. Research analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd were paid a dividend of $0.40 per share. 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 dividend payout ratio (DPR) is 82.05%.

Insider Activity at NIKE

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

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on NKE shares. Weiss Ratings raised NIKE from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, October 8th. Telsey Advisory Group reissued a “market perform” rating and issued a $75.00 target price on shares of NIKE in a research report on Wednesday, October 1st. Jefferies Financial Group reaffirmed a “buy” rating and set a $115.00 price objective on shares of NIKE in a research report on Monday, September 29th. BTIG Research started coverage on NIKE in a research report on Tuesday, October 14th. They set a “buy” rating and a $100.00 price objective on the stock. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating on shares of NIKE in a research report on Friday, October 10th. Three analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average 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.