Biltmore Wealth Management LLC Lowers Stock Position in NIKE, Inc. (NYSE:NKE)

Biltmore Wealth Management LLC cut its holdings in NIKE, Inc. (NYSE:NKE) by 4.3% during the second quarter, Holdings Channel reports. The institutional investor owned 6,174 shares of the footwear maker’s stock after selling 276 shares during the quarter. Biltmore Wealth Management LLC’s holdings in NIKE were worth $681,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. America First Investment Advisors LLC bought a new position in shares of NIKE during the first quarter valued at approximately $27,000. Tucker Asset Management LLC purchased a new stake in shares of NIKE in the 1st quarter worth approximately $29,000. Financial Freedom LLC bought a new position in NIKE during the 4th quarter valued at approximately $29,000. Ruedi Wealth Management Inc. purchased a new position in NIKE during the fourth quarter valued at $30,000. Finally, Venturi Wealth Management LLC bought a new stake in NIKE in the first quarter worth $35,000. 63.42% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CFO Matthew Friend sold 5,545 shares of NIKE 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 transaction, the chief financial officer now directly owns 42,119 shares of the company’s stock, valued at $4,506,733. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, Chairman Mark G. Parker sold 110,000 shares of the company’s 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 transaction, the chairman now directly owns 1,334,781 shares of the company’s stock, valued at $144,930,520.98. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Matthew Friend sold 5,545 shares of the company’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 transaction, the chief financial officer now directly owns 42,119 shares in the company, valued at $4,506,733. 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. Corporate insiders own 0.50% of the company’s stock.

NIKE Trading Down 0.5 %

Shares of NYSE:NKE traded down $0.52 during trading on Monday, reaching $95.74. The company’s stock had a trading volume of 2,323,478 shares, compared to its average volume of 6,903,809. 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’s 50 day simple moving average is $104.70 and its two-hundred day simple moving average is $112.67. The stock has a market capitalization of $146.48 billion, a PE ratio of 29.74, a price-to-earnings-growth ratio of 1.72 and a beta of 1.12. NIKE, Inc. has a 12 month low of $82.22 and a 12 month high of $131.31.

NIKE (NYSE:NKE) last released its earnings results on Thursday, June 29th. The footwear maker reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $12.58 billion. During the same quarter last year, the business posted $0.90 EPS. NIKE’s revenue was up 4.9% compared to the same quarter last year. On average, research analysts predict that NIKE, Inc. will post 3.71 EPS for the current fiscal year.

NIKE Announces Dividend

The firm 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. This represents a $1.36 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date is Friday, September 1st. NIKE’s dividend payout ratio (DPR) is presently 42.11%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Stifel Nicolaus lowered their price target on NIKE from $143.00 to $135.00 and set a “buy” rating for the company in a research report on Monday, August 28th. HSBC dropped their target price on shares of NIKE from $120.00 to $112.00 and set a “hold” rating on the stock in a research note on Monday. TheStreet downgraded shares of NIKE from a “b-” rating to a “c+” rating in a research report on Tuesday, September 5th. Telsey Advisory Group restated an “outperform” rating and issued a $135.00 price objective on shares of NIKE in a report on Friday, June 30th. Finally, Wells Fargo & Company cut their target price on NIKE from $130.00 to $120.00 and set an “overweight” rating on the stock in a research note on Monday. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-three have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $129.07.

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.