Foster Group Inc. Trims Stock Position in NIKE, Inc. (NYSE:NKE)

Foster Group Inc. lessened its position in shares of NIKE, Inc. (NYSE:NKE) by 12.8% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,144 shares of the footwear maker’s stock after selling 608 shares during the quarter. Foster Group Inc.’s holdings in NIKE were worth $457,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. America First Investment Advisors LLC acquired a new stake in NIKE in the 1st quarter valued at approximately $27,000. Tucker Asset Management LLC acquired a new stake in NIKE in the 1st quarter valued at approximately $29,000. Financial Freedom LLC acquired a new stake in NIKE in the 4th quarter valued at approximately $29,000. Ruedi Wealth Management Inc. acquired a new stake in NIKE in the 4th quarter valued at approximately $30,000. Finally, Venturi Wealth Management LLC acquired a new stake in NIKE in the 1st quarter valued at approximately $35,000. Hedge funds and other institutional investors own 63.42% of the company’s stock.

Analysts Set New Price Targets

NKE has been the subject of several research reports. OTR Global downgraded shares of NIKE to a “positive” rating in a research note on Tuesday, June 20th. Royal Bank of Canada dropped their price target on shares of NIKE from $138.00 to $134.00 and set an “outperform” rating for the company in a research note on Friday, June 30th. Williams Trading dropped their price target 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. VNET Group restated a “maintains” rating on shares of NIKE in a research note on Friday, June 30th. Finally, Morgan Stanley dropped their price target on shares of NIKE from $130.00 to $127.00 and set an “overweight” rating for the company in a research note on Sunday, July 2nd. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-two have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $130.28.

Insider Transactions at NIKE

In other news, Chairman Mark G. Parker sold 110,000 shares of the business’s stock in a transaction dated Tuesday, July 18th. The shares were sold at an average price of $108.58, for a total transaction of $11,943,800.00. Following the transaction, the chairman now directly owns 1,334,781 shares in the company, valued at $144,930,520.98. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Chairman Mark G. Parker sold 110,000 shares of the business’s stock in a transaction dated Tuesday, July 18th. The shares were sold at an average price of $108.58, for a total transaction of $11,943,800.00. Following the transaction, the chairman now directly owns 1,334,781 shares in the company, valued at $144,930,520.98. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Monique S. Matheson sold 40,000 shares of the company’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 transaction, 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 over the last ninety days. 0.50% of the stock is currently owned by company insiders.

NIKE Stock Performance

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

NIKE (NYSE:NKE) last announced its earnings results on Thursday, June 29th. The footwear maker reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.02). NIKE had a net margin of 9.90% and a return on equity of 34.01%. The business had revenue of $12.80 billion during the quarter, compared to analysts’ expectations of $12.58 billion. During the same period in the previous year, the company posted $0.90 earnings per share. NIKE’s quarterly revenue was up 4.9% on a year-over-year basis. As a group, sell-side analysts forecast that NIKE, Inc. will post 3.71 EPS for the current year.

NIKE Announces Dividend

The company 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 dividend of $0.34 per share. The ex-dividend date of this dividend is Friday, September 1st. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.41%. NIKE’s dividend payout ratio (DPR) is 42.11%.

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.