Proficio Capital Partners LLC Decreases Stake in NIKE, Inc. (NYSE:NKE)

Proficio Capital Partners LLC reduced its position in NIKE, Inc. (NYSE:NKE) by 1.4% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 18,966 shares of the footwear maker’s stock after selling 279 shares during the period. Proficio Capital Partners LLC’s holdings in NIKE were worth $1,782,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Norges Bank bought a new position in NIKE in the 4th quarter worth approximately $1,315,097,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of NIKE by 87.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 17,135,431 shares of the footwear maker’s stock worth $1,860,395,000 after acquiring an additional 7,996,434 shares during the period. Capital International Investors grew its position in shares of NIKE by 34.9% in the fourth quarter. Capital International Investors now owns 27,609,613 shares of the footwear maker’s stock valued at $2,997,628,000 after purchasing an additional 7,143,775 shares in the last quarter. Jennison Associates LLC raised its stake in shares of NIKE by 45.6% during the 1st quarter. Jennison Associates LLC now owns 8,859,580 shares of the footwear maker’s stock valued at $832,623,000 after purchasing an additional 2,775,510 shares during the period. Finally, Public Employees Retirement Association of Colorado lifted its holdings in NIKE by 13,094.2% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 1,563,253 shares of the footwear maker’s stock worth $169,722,000 after purchasing an additional 1,551,405 shares in the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, VP Johanna Nielsen sold 282 shares of the company’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $93.64, for a total transaction of $26,406.48. Following the completion of the transaction, the vice president now directly owns 730 shares of the company’s stock, valued at $68,357.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, VP Johanna Nielsen sold 282 shares of NIKE stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $93.64, for a total value of $26,406.48. Following the sale, the vice president now directly owns 730 shares in the company, valued at approximately $68,357.20. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Robert Holmes Swan bought 2,941 shares of NIKE stock in a transaction dated Friday, June 28th. The shares were acquired at an average cost of $77.02 per share, for a total transaction of $226,515.82. Following the completion of the purchase, the director now directly owns 20,946 shares of the company’s stock, valued at approximately $1,613,260.92. The disclosure for this purchase can be found here. Insiders have sold a total of 213,660 shares of company stock valued at $19,946,333 in the last quarter. Insiders own 0.50% of the company’s stock.

NIKE Trading Down 0.8 %

Shares of NKE traded down $0.57 during trading hours on Tuesday, hitting $72.48. The company had a trading volume of 23,452,729 shares, compared to its average volume of 11,053,622. The firm has a market cap of $109.40 billion, a P/E ratio of 19.43, a P/E/G ratio of 1.85 and a beta of 1.01. NIKE, Inc. has a 52-week low of $72.38 and a 52-week high of $123.39. The stock’s 50 day moving average price is $90.63 and its 200 day moving average price is $96.64. The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.55.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.16. The business had revenue of $12.60 billion for the quarter, compared to analysts’ expectations of $12.86 billion. NIKE had a return on equity of 42.63% and a net margin of 11.10%. During the same period in the previous year, the firm earned $0.66 EPS. The business’s quarterly revenue was down 1.6% on a year-over-year basis. On average, research analysts predict that NIKE, Inc. will post 3.23 EPS for the current year.

NIKE Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Monday, June 3rd were given a dividend of $0.37 per share. The ex-dividend date was Monday, June 3rd. This represents a $1.48 annualized dividend and a yield of 2.04%. NIKE’s payout ratio is currently 39.68%.

Wall Street Analyst Weigh In

NKE has been the topic of several analyst reports. Telsey Advisory Group decreased their price target on NIKE from $115.00 to $100.00 and set an “outperform” rating on the stock in a research report on Friday, June 28th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of NIKE from $115.00 to $92.00 and set a “buy” rating on the stock in a report on Wednesday, July 3rd. Oppenheimer reissued an “outperform” rating and issued a $120.00 price target on shares of NIKE in a report on Friday, June 28th. TD Cowen decreased their price target on shares of NIKE from $89.00 to $75.00 and set a “hold” rating on the stock in a report on Friday, June 28th. Finally, Jefferies Financial Group dropped their price objective on NIKE from $110.00 to $100.00 and set a “hold” rating for the company in a research note on Friday, March 22nd. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, NIKE currently has an average rating of “Hold” and an average price target of $97.19.

NIKE 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.