Cooper Financial Group Sells 169 Shares of NIKE, Inc. $NKE

Cooper Financial Group lowered its stake in NIKE, Inc. (NYSE:NKE) by 3.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,710 shares of the footwear maker’s stock after selling 169 shares during the period. Cooper Financial Group’s holdings in NIKE were worth $335,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. Caldwell Sutter Capital Inc. increased its position in shares of NIKE by 6.3% in the second quarter. Caldwell Sutter Capital Inc. now owns 2,390 shares of the footwear maker’s stock worth $170,000 after purchasing an additional 142 shares during the period. Westmount Partners LLC increased its position in shares of 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 position in shares of NIKE by 0.3% in the second quarter. HB Wealth Management LLC now owns 52,012 shares of the footwear maker’s stock worth $3,695,000 after purchasing an additional 147 shares during the period. Matrix Trust Co grew its position in NIKE by 53.1% in the second quarter. Matrix Trust Co now owns 441 shares of the footwear maker’s stock valued at $31,000 after acquiring an additional 153 shares during the last quarter. Finally, Summit Financial Strategies Inc. grew its position in NIKE by 3.8% in the second quarter. Summit Financial Strategies Inc. now owns 4,270 shares of the footwear maker’s stock valued at $303,000 after acquiring an additional 155 shares during the last quarter. Institutional investors own 64.25% of the company’s stock.

Insider Activity at NIKE

In related news, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $72.29, for a total value of $7,951,900.00. Following the transaction, the chairman directly owned 842,361 shares of the company’s stock, valued at $60,894,276.69. The trade was a 11.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.80% of the stock is currently owned by corporate insiders.

NIKE Price Performance

NIKE stock opened at $74.59 on Friday. The stock’s 50 day moving average is $74.71 and its 200 day moving average is $67.32. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.19 and a quick ratio of 1.50. The firm has a market cap of $110.16 billion, a P/E ratio of 38.25, a P/E/G ratio of 2.79 and a beta of 1.29. NIKE, Inc. has a one year low of $52.28 and a one year high of $84.76.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Tuesday, September 30th. The footwear maker reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.22. The company had revenue of $11.72 billion for the quarter, compared to analyst estimates 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 period in the previous year, the firm earned $0.70 earnings per share. As a group, research analysts expect that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend was Tuesday, September 2nd. NIKE’s payout ratio is currently 82.05%.

Analysts Set New Price Targets

A number of research firms have issued reports on NKE. Deutsche Bank Aktiengesellschaft decreased their target price on NIKE from $77.00 to $71.00 and set a “buy” rating on the stock in a research report on Friday, June 20th. HSBC upgraded 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. Royal Bank Of Canada upgraded NIKE from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from $76.00 to $90.00 in a research report on Thursday, September 18th. Wall Street Zen upgraded NIKE from a “sell” rating to a “hold” rating in a research report on Saturday, September 6th. 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. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $81.57.

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.