Lake Street Advisors Group LLC Lowers Holdings in NIKE, Inc. (NYSE:NKE)

Lake Street Advisors Group LLC reduced its position in shares of NIKE, Inc. (NYSE:NKE) by 5.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,057 shares of the footwear maker’s stock after selling 862 shares during the period. Lake Street Advisors Group LLC’s holdings in NIKE were worth $1,772,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in NKE. America First Investment Advisors LLC purchased a new stake in shares of NIKE during the 1st quarter valued at $27,000. Marquette Asset Management LLC increased its stake in NIKE by 201.3% in the second quarter. Marquette Asset Management LLC now owns 241 shares of the footwear maker’s stock valued at $27,000 after acquiring an additional 161 shares during the last quarter. Tucker Asset Management LLC purchased a new stake in NIKE during the first quarter valued at about $29,000. Horizon Bancorp Inc. IN bought a new stake in NIKE during the second quarter worth about $29,000. Finally, Financial Freedom LLC purchased a new position in shares of NIKE in the 4th quarter worth about $29,000. Institutional investors own 63.42% of the company’s stock.

NIKE Stock Down 1.5 %

NYSE:NKE traded down $1.65 during mid-day trading on Friday, hitting $105.96. 6,353,975 shares of the company’s stock were exchanged, compared to its average volume of 8,079,526. The company has a market cap of $161.26 billion, a PE ratio of 32.71, a P/E/G ratio of 1.79 and a beta of 1.09. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.87 and a quick ratio of 1.84. NIKE, Inc. has a one year low of $88.66 and a one year high of $131.31. The business has a fifty day moving average price of $99.75 and a 200 day moving average price of $105.94.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Thursday, September 28th. The footwear maker reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.20. NIKE had a return on equity of 34.97% and a net margin of 9.82%. The firm had revenue of $12.90 billion for the quarter, compared to analysts’ expectations of $13 billion. During the same period in the previous year, the firm posted $0.93 EPS. The business’s revenue for the quarter was up 1.6% compared to the same quarter last year. Equities analysts predict that NIKE, Inc. will post 3.74 EPS for the current year.

NIKE Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Monday, December 4th will be paid a $0.37 dividend. This is a boost from NIKE’s previous quarterly dividend of $0.34. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date is Friday, December 1st. NIKE’s dividend payout ratio is currently 41.98%.

Insider Activity

In other news, Director Robert Holmes Swan bought 13,072 shares of the firm’s stock in a transaction on Monday, October 2nd. The stock was acquired at an average cost of $96.13 per share, with a total value of $1,256,611.36. Following the completion of the acquisition, the director now owns 18,005 shares of the company’s stock, valued at $1,730,820.65. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other NIKE news, Director Robert Holmes Swan bought 13,072 shares of NIKE stock in a transaction on Monday, October 2nd. The stock was acquired at an average price of $96.13 per share, with a total value of $1,256,611.36. Following the acquisition, the director now owns 18,005 shares in the company, valued at $1,730,820.65. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Mark G. Parker sold 58,091 shares of the company’s stock in a transaction on Monday, October 16th. The shares were sold at an average price of $99.60, for a total value of $5,785,863.60. Following the transaction, the chairman now directly owns 1,255,600 shares in the company, valued at $125,057,760. The disclosure for this sale can be found here. Corporate insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on NKE. Erste Group Bank reaffirmed a “hold” rating on shares of NIKE in a research note on Friday, September 8th. Jefferies Financial Group cut shares of NIKE from a “buy” rating to a “hold” rating and decreased their target price for the stock from $140.00 to $100.00 in a research report on Monday, September 25th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $113.00 price objective on shares of NIKE in a research note on Friday, October 6th. Williams Trading upgraded NIKE from a “sell” rating to a “hold” rating and lifted their price objective for the stock from $91.00 to $92.00 in a report on Friday, September 29th. Finally, BMO Capital Markets reduced their price target on NIKE from $120.00 to $110.00 and set an “outperform” rating on the stock in a research report on Friday, September 29th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-two have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $122.03.

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.