Ameliora Wealth Management Ltd. Cuts Stock Holdings in NIKE, Inc. (NYSE:NKE)

Ameliora Wealth Management Ltd. lowered its stake in shares of NIKE, Inc. (NYSE:NKE) by 43.8% during the second quarter, Holdings Channel reports. The fund owned 2,973 shares of the footwear maker’s stock after selling 2,315 shares during the period. Ameliora Wealth Management Ltd.’s holdings in NIKE were worth $328,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in NKE. BCK Partners Inc. purchased a new stake in shares of NIKE during the 1st quarter worth $2,839,000. Loomis Sayles & Co. L P raised its position in shares of NIKE by 138.2% during the 1st quarter. Loomis Sayles & Co. L P now owns 11,233 shares of the footwear maker’s stock worth $1,511,000 after acquiring an additional 6,518 shares in the last quarter. Merit Financial Group LLC grew its position in shares of NIKE by 13.3% in the 1st quarter. Merit Financial Group LLC now owns 1,588 shares of the footwear maker’s stock valued at $214,000 after buying an additional 186 shares during the last quarter. Bridgewater Associates LP purchased a new position in shares of NIKE in the 1st quarter valued at $278,000. Finally, Federated Hermes Inc. grew its position in shares of NIKE by 9.8% in the 1st quarter. Federated Hermes Inc. now owns 433,950 shares of the footwear maker’s stock valued at $58,392,000 after buying an additional 38,903 shares during the last quarter. 63.42% of the stock is owned by institutional investors and hedge funds.

NIKE Stock Down 1.0 %

Shares of NIKE stock traded down $0.93 on Friday, hitting $96.26. 10,467,337 shares of the company’s stock traded hands, compared to its average volume of 7,550,261. The stock has a market cap of $147.27 billion, a P/E ratio of 29.80, a PEG ratio of 1.72 and a beta of 1.12. The company has a quick ratio of 1.81, a current ratio of 2.72 and a debt-to-equity ratio of 0.64. The firm’s 50-day moving average is $104.86 and its 200 day moving average is $112.91. NIKE, Inc. has a 52-week low of $82.22 and a 52-week high of $131.31.

NIKE (NYSE:NKE) last released 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). The company 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 company’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.90 EPS. Equities analysts anticipate that NIKE, Inc. will post 3.71 earnings per share for the current year.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Tuesday, September 5th will be given a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 1.41%. The ex-dividend date is Friday, September 1st. NIKE’s dividend payout ratio is currently 42.11%.

Wall Street Analysts Forecast Growth

NKE has been the topic of a number of recent analyst reports. StockNews.com assumed coverage on shares of NIKE in a research report on Thursday, August 17th. They issued a “hold” rating on the stock. Raymond James decreased their target price on NIKE from $135.00 to $128.00 and set an “outperform” rating for the company in a research report on Friday, June 30th. JPMorgan Chase & Co. decreased their target price on NIKE from $152.00 to $146.00 and set an “overweight” rating for the company in a research report on Wednesday, June 28th. Royal Bank of Canada reduced their price target on shares of NIKE from $138.00 to $134.00 and set an “outperform” rating for the company in a research report on Friday, June 30th. Finally, Bank of America lowered their price objective on shares of NIKE from $135.00 to $125.00 in a research report on Friday, June 30th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-two have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $130.28.

Insider Activity at NIKE

In related news, EVP Monique S. Matheson sold 40,000 shares of the stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $108.59, for a total value of $4,343,600.00. Following the completion of the transaction, the executive vice president now owns 44,736 shares in the company, valued at approximately $4,857,882.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other NIKE news, CFO Matthew Friend sold 5,545 shares of the business’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $107.00, for a total value of $593,315.00. Following the sale, the chief financial officer now directly owns 42,119 shares in the company, valued at $4,506,733. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Monique S. Matheson sold 40,000 shares of the business’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $108.59, for a total transaction of $4,343,600.00. Following the completion of the sale, the executive vice president now owns 44,736 shares in the company, valued at $4,857,882.24. The disclosure for this sale can be found here. Insiders have sold a total of 157,251 shares of company stock worth $17,063,257 in the last three months. 0.50% of the stock is owned by company insiders.

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.