Private Asset Management Inc. Sells 392 Shares of NIKE, Inc. (NYSE:NKE)

Private Asset Management Inc. decreased its stake in NIKE, Inc. (NYSE:NKE) by 5.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,805 shares of the footwear maker’s stock after selling 392 shares during the period. Private Asset Management Inc.’s holdings in NIKE were worth $751,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NKE. Moneta Group Investment Advisors LLC increased its holdings in NIKE by 139,649.9% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 16,813,307 shares of the footwear maker’s stock valued at $1,967,325,000 after purchasing an additional 16,801,276 shares during the period. Norges Bank bought a new position in NIKE in the fourth quarter worth approximately $1,345,203,000. Morgan Stanley lifted its holdings in shares of NIKE by 26.4% in the 4th quarter. Morgan Stanley now owns 30,720,119 shares of the footwear maker’s stock worth $3,594,561,000 after purchasing an additional 6,410,744 shares in the last quarter. Marshall Wace LLP grew its holdings in shares of NIKE by 364.3% during the fourth quarter. Marshall Wace LLP now owns 2,845,044 shares of the footwear maker’s stock valued at $332,899,000 after buying an additional 2,232,240 shares during the last quarter. Finally, FMR LLC increased its holdings in NIKE by 11.8% during the 1st quarter. FMR LLC now owns 19,087,757 shares of the footwear maker’s stock worth $2,340,922,000 after purchasing an additional 2,011,891 shares in the last quarter. Institutional investors own 63.42% of the company’s stock.

NIKE Price Performance

NYSE:NKE traded down $0.13 during mid-day trading on Thursday, reaching $96.00. 992,915 shares of the stock were exchanged, compared to its average volume of 6,875,547. NIKE, Inc. has a 1-year low of $82.22 and a 1-year high of $131.31. The company has a current ratio of 2.72, a quick ratio of 1.81 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $146.88 billion, a PE ratio of 29.90, a PEG ratio of 1.73 and a beta of 1.12. The business has a fifty day moving average price of $105.24 and a 200 day moving average price of $113.14.

NIKE (NYSE:NKE) last released its earnings results on Thursday, June 29th. The footwear maker reported $0.66 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.02). The business had revenue of $12.80 billion for the quarter, compared to analyst estimates of $12.58 billion. NIKE had a net margin of 9.90% and a return on equity of 34.01%. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.90 earnings per share. Research analysts expect that NIKE, Inc. will post 3.71 earnings per share for the current fiscal year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Tuesday, September 5th will be paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date of this dividend is Friday, September 1st. NIKE’s dividend payout ratio (DPR) is presently 42.11%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on NKE. StockNews.com started coverage on NIKE in a research note on Thursday, August 17th. They issued a “hold” rating on the stock. KeyCorp started coverage on NIKE in a research report on Tuesday, July 25th. They set a “sector weight” rating for the company. Erste Group Bank reissued a “hold” rating on shares of NIKE in a report on Friday, September 8th. Stifel Nicolaus reduced their price objective on NIKE from $143.00 to $135.00 and set a “buy” rating on the stock in a research report on Monday, August 28th. Finally, Wedbush lifted their price target on shares of NIKE from $129.00 to $131.00 and gave the company an “outperform” rating in a report on Friday, June 30th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $130.28.

Insider Buying and Selling

In related news, VP Johanna Nielsen sold 1,706 shares of the business’s stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $107.00, for a total value of $182,542.00. Following the completion of the sale, the vice president now owns 954 shares of the company’s stock, valued at approximately $102,078. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, VP Johanna Nielsen sold 1,706 shares of the stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $107.00, for a total transaction of $182,542.00. Following the transaction, the vice president now owns 954 shares of the company’s stock, valued at approximately $102,078. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction on Tuesday, July 18th. The stock was sold at an average price of $108.58, for a total transaction of $11,943,800.00. Following the completion of the transaction, the chairman now owns 1,334,781 shares in the company, valued at approximately $144,930,520.98. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 157,251 shares of company stock worth $17,063,257. Corporate insiders own 0.50% of the company’s stock.

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.