Cypress Asset Management Inc. TX Trims Stock Position in NIKE, Inc. (NYSE:NKE)

Cypress Asset Management Inc. TX decreased its holdings in NIKE, Inc. (NYSE:NKE) by 15.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,802 shares of the footwear maker’s stock after selling 2,706 shares during the period. Cypress Asset Management Inc. TX’s holdings in NIKE were worth $1,391,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Portland Hill Asset Management Ltd acquired a new position in NIKE during the 1st quarter valued at about $958,000. Soltis Investment Advisors LLC boosted its holdings in NIKE by 62.6% during the first quarter. Soltis Investment Advisors LLC now owns 28,468 shares of the footwear maker’s stock worth $2,675,000 after buying an additional 10,958 shares in the last quarter. Cetera Advisors LLC grew its position in shares of NIKE by 85.5% during the 1st quarter. Cetera Advisors LLC now owns 88,299 shares of the footwear maker’s stock valued at $8,298,000 after acquiring an additional 40,704 shares during the period. Cetera Investment Advisers raised its holdings in NIKE by 144.5% in the 1st quarter. Cetera Investment Advisers now owns 215,631 shares of the footwear maker’s stock worth $20,265,000 after purchasing an additional 127,449 shares during the period. Finally, Invst LLC grew its holdings in NIKE by 38.4% in the first quarter. Invst LLC now owns 17,425 shares of the footwear maker’s stock valued at $1,613,000 after purchasing an additional 4,835 shares during the period. Institutional investors own 64.25% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on NKE shares. Raymond James restated a “market perform” rating on shares of NIKE in a research report on Friday, June 28th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $88.00 price target (down from $117.00) on shares of NIKE in a research note on Friday, June 28th. Oppenheimer reissued an “outperform” rating and issued a $120.00 price objective on shares of NIKE in a research note on Friday, June 28th. Robert W. Baird reduced their target price on shares of NIKE from $125.00 to $100.00 and set an “outperform” rating for the company in a research report on Friday, June 28th. Finally, Telsey Advisory Group lowered their price target on shares of NIKE from $115.00 to $100.00 and set an “outperform” rating on the stock in a research report on Friday, June 28th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $96.30.

Insider Buying and Selling at NIKE

In related news, EVP Monique S. Matheson sold 45,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $94.16, for a total value of $4,237,200.00. Following the sale, the executive vice president now owns 44,997 shares of the company’s stock, valued at approximately $4,236,917.52. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, EVP Monique S. Matheson sold 45,000 shares of the business’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $94.16, for a total value of $4,237,200.00. Following the completion of the transaction, the executive vice president now owns 44,997 shares of the company’s stock, valued at approximately $4,236,917.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Mark G. Parker sold 168,378 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $93.14, for a total transaction of $15,682,726.92. Following the sale, the chairman now directly owns 1,102,090 shares in the company, valued at $102,648,662.60. The disclosure for this sale can be found here. In the last three months, insiders sold 323,660 shares of company stock worth $27,973,033. 0.50% of the stock is owned by corporate insiders.

NIKE Stock Performance

Shares of NYSE:NKE traded up $0.16 during midday trading on Friday, hitting $74.01. The stock had a trading volume of 11,526,628 shares, compared to its average volume of 15,949,355. The company has a market capitalization of $111.71 billion, a PE ratio of 19.84, a P/E/G ratio of 1.92 and a beta of 1.01. NIKE, Inc. has a 1 year low of $70.91 and a 1 year high of $123.39. The stock has a 50 day moving average price of $83.71 and a two-hundred day moving average price of $92.63. The company has a current ratio of 2.40, a quick ratio of 1.69 and a debt-to-equity ratio of 0.55.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. The firm had revenue of $12.60 billion for the quarter, compared to the consensus estimate of $12.86 billion. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The company’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.66 earnings per share. As a group, equities analysts predict that NIKE, Inc. will post 3.12 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd will be paid a $0.37 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.48 dividend on an annualized basis and a yield of 2.00%. NIKE’s payout ratio is 39.68%.

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.