NIKE, Inc. (NYSE:NKE) Shares Sold by Means Investment CO. Inc.

Means Investment CO. Inc. cut its holdings in shares of NIKE, Inc. (NYSE:NKE) by 6.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 18,748 shares of the footwear maker’s stock after selling 1,379 shares during the period. Means Investment CO. Inc.’s holdings in NIKE were worth $1,657,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in NKE. Annapolis Financial Services LLC increased its position in shares of NIKE by 440.0% during the first quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock worth $25,000 after purchasing an additional 220 shares in the last quarter. Transcendent Capital Group LLC increased its position in shares of NIKE by 97.6% in the 1st quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker’s stock valued at $38,000 after acquiring an additional 200 shares during the period. VitalStone Financial LLC increased its position in shares of NIKE by 52.6% in the 3rd quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock valued at $38,000 after acquiring an additional 150 shares during the period. Bruce G. Allen Investments LLC increased its position in shares of NIKE by 272.5% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock valued at $39,000 after acquiring an additional 376 shares during the period. Finally, Triad Wealth Partners LLC acquired a new position in shares of NIKE in the 2nd quarter valued at $44,000. 64.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NKE has been the topic of several research reports. Stifel Nicolaus cut their target price on NIKE from $88.00 to $79.00 and set a “hold” rating on the stock in a research report on Monday, August 26th. Bank of America cut their target price on NIKE from $104.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, October 2nd. Sanford C. Bernstein cut their target price on NIKE from $112.00 to $109.00 and set an “outperform” rating on the stock in a research report on Thursday, September 19th. Barclays cut their target price on NIKE from $84.00 to $81.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 2nd. Finally, Royal Bank of Canada lowered their price target on shares of NIKE from $85.00 to $82.00 and set a “sector perform” rating on the stock in a report on Wednesday, October 2nd. Fourteen equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, NIKE has an average rating of “Moderate Buy” and an average target price of $96.56.

NIKE Trading Down 0.6 %

Shares of NIKE stock opened at $82.92 on Friday. The firm has a market capitalization of $125.16 billion, a PE ratio of 22.23, a P/E/G ratio of 1.96 and a beta of 1.02. NIKE, Inc. has a twelve month low of $70.75 and a twelve month high of $123.39. The firm’s 50-day moving average price is $82.64 and its 200 day moving average price is $85.28. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57.

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

NIKE Dividend Announcement

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

Insider Buying and Selling at NIKE

In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the 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 owns 1,031,226 shares in the company, valued at approximately $80,435,628. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.50% of the stock is owned by 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.