SOA Wealth Advisors LLC. reduced its holdings in NIKE, Inc. (NYSE:NKE – Free Report) by 1.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,910 shares of the footwear maker’s stock after selling 260 shares during the period. SOA Wealth Advisors LLC.’s holdings in NIKE were worth $2,970,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Meiji Yasuda Life Insurance Co increased its stake in NIKE by 0.3% in the 4th quarter. Meiji Yasuda Life Insurance Co now owns 29,026 shares of the footwear maker’s stock valued at $3,396,000 after buying an additional 80 shares during the last quarter. Vestcor Inc raised its holdings in NIKE by 0.3% during the fourth quarter. Vestcor Inc now owns 29,977 shares of the footwear maker’s stock worth $3,508,000 after acquiring an additional 81 shares in the last quarter. CWS Financial Advisors LLC boosted its position in NIKE by 2.9% during the first quarter. CWS Financial Advisors LLC now owns 2,896 shares of the footwear maker’s stock valued at $355,000 after purchasing an additional 82 shares during the last quarter. Essex Savings Bank boosted its position in NIKE by 1.2% during the first quarter. Essex Savings Bank now owns 6,940 shares of the footwear maker’s stock valued at $851,000 after purchasing an additional 83 shares during the last quarter. Finally, West Family Investments Inc. grew its stake in NIKE by 2.9% in the first quarter. West Family Investments Inc. now owns 3,029 shares of the footwear maker’s stock valued at $371,000 after purchasing an additional 84 shares in the last quarter. 63.42% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently commented on NKE shares. VNET Group reissued a “maintains” rating on shares of NIKE in a report on Friday, June 30th. UBS Group increased their price target on shares of NIKE from $145.00 to $150.00 in a research note on Friday, June 30th. Morgan Stanley lowered their price objective on shares of NIKE from $130.00 to $127.00 and set an “overweight” rating on the stock in a research note on Sunday, July 2nd. Williams Trading cut their target price on shares of NIKE from $95.00 to $91.00 and set a “sell” rating for the company in a research note on Thursday, September 7th. Finally, TheStreet downgraded NIKE from a “b-” rating to a “c+” rating in a research report on Tuesday, September 5th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-two have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $130.28.
NIKE Price Performance
Shares of NYSE:NKE traded down $0.16 during trading on Friday, reaching $97.03. 2,494,269 shares of the company traded hands, compared to its average volume of 6,885,140. The company has a quick ratio of 1.81, a current ratio of 2.72 and a debt-to-equity ratio of 0.64. NIKE, Inc. has a 52 week low of $82.22 and a 52 week high of $131.31. The firm has a market capitalization of $148.45 billion, a PE ratio of 30.30, a PEG ratio of 1.70 and a beta of 1.12. The company’s 50 day moving average is $105.02 and its two-hundred day moving average is $113.02.
NIKE (NYSE:NKE – Get Free Report) last announced its quarterly earnings data on Thursday, June 29th. The footwear maker reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.02). NIKE had a return on equity of 34.01% and a net margin of 9.90%. The firm had revenue of $12.80 billion for the quarter, compared to analyst estimates of $12.58 billion. During the same quarter in the previous year, the company earned $0.90 earnings per share. The company’s quarterly revenue was up 4.9% on a year-over-year basis. As a group, sell-side analysts predict that NIKE, Inc. will post 3.71 earnings per share for the current year.
NIKE Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Tuesday, September 5th will be paid a $0.34 dividend. The ex-dividend date of this dividend is Friday, September 1st. This represents a $1.36 dividend on an annualized basis and a yield of 1.40%. NIKE’s dividend payout ratio (DPR) is 42.11%.
Insider Buying and Selling at NIKE
In other NIKE news, CFO Matthew Friend sold 5,545 shares of the firm’s stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $107.00, for a total value of $593,315.00. Following the sale, the chief financial officer now owns 42,119 shares of the company’s stock, valued at approximately $4,506,733. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, VP Johanna Nielsen sold 1,706 shares of the company’s stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $107.00, for a total transaction of $182,542.00. Following the completion of the transaction, the vice president now directly owns 954 shares in the company, valued at approximately $102,078. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Matthew Friend sold 5,545 shares of the firm’s stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $107.00, for a total transaction of $593,315.00. Following the completion of the sale, the chief financial officer now owns 42,119 shares in the company, valued at approximately $4,506,733. The disclosure for this sale can be found here. Insiders sold a total of 157,251 shares of company stock worth $17,063,257 over the last three months. Corporate insiders own 0.50% of the company’s stock.
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.
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