Etesian Wealth Advisors Inc. Sells 2,586 Shares of NIKE, Inc. (NYSE:NKE)

Etesian Wealth Advisors Inc. cut its holdings in shares of NIKE, Inc. (NYSE:NKE) by 17.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,968 shares of the footwear maker’s stock after selling 2,586 shares during the quarter. Etesian Wealth Advisors Inc.’s holdings in NIKE were worth $1,058,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in NIKE by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 110,044,821 shares of the footwear maker’s stock worth $10,342,012,000 after buying an additional 501,792 shares in the last quarter. Legal & General Group Plc lifted its position in NIKE by 5.5% during the 2nd quarter. Legal & General Group Plc now owns 11,049,294 shares of the footwear maker’s stock worth $832,785,000 after buying an additional 571,544 shares in the last quarter. Jennison Associates LLC lifted its position in NIKE by 45.6% during the 1st quarter. Jennison Associates LLC now owns 8,859,580 shares of the footwear maker’s stock worth $832,623,000 after buying an additional 2,775,510 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in NIKE by 0.9% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 6,025,616 shares of the footwear maker’s stock worth $454,151,000 after buying an additional 52,500 shares in the last quarter. Finally, Longview Partners Guernsey LTD bought a new stake in NIKE during the 1st quarter worth about $533,533,000. 64.25% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total value of $4,093,986.00. Following the completion of the sale, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at $80,435,628. This represents a 0.00 % 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. 0.50% of the stock is owned by insiders.

NIKE Price Performance

NYSE:NKE traded down $0.48 during trading hours on Friday, hitting $82.92. 7,214,787 shares of the stock traded hands, compared to its average volume of 11,701,926. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a 1 year low of $70.75 and a 1 year high of $123.39. The company has a market cap of $125.16 billion, a price-to-earnings ratio of 22.23, a price-to-earnings-growth ratio of 1.96 and a beta of 1.02. The stock has a 50 day moving average price of $82.64 and a 200 day moving average price of $85.32.

NIKE (NYSE:NKE) last released its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.18. The firm had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $11.64 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The company’s revenue for the quarter was down 10.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.94 earnings per share. Sell-side analysts forecast that NIKE, Inc. will post 2.8 EPS for the current fiscal year.

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd were paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date was Tuesday, September 3rd. NIKE’s dividend payout ratio is currently 39.68%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. StockNews.com lowered shares of NIKE from a “buy” rating to a “hold” rating in a research note on Friday, June 21st. Daiwa America lowered shares of NIKE from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. Jefferies Financial Group boosted their price objective on shares of NIKE from $80.00 to $85.00 and gave the stock a “hold” rating in a research note on Monday, September 30th. Citigroup lowered their price objective on shares of NIKE from $115.00 to $102.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. Finally, Oppenheimer restated an “outperform” rating and set a $120.00 price objective on shares of NIKE in a research note on Friday, June 28th. Fourteen analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $96.56.

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.