Traders bought shares of Nike, Inc. (NYSE:NKE) on weakness during trading hours on Wednesday after Telsey Advisory Group lowered their price target on the stock from $63.00 to $61.00. $91.12 million flowed into the stock on the tick-up and $48.13 million flowed out of the stock on the tick-down, for a money net flow of $42.99 million into the stock. Of all companies tracked, Nike had the 11th highest net in-flow for the day. Nike traded down ($0.17) for the day and closed at $52.56

A number of other research analysts have also weighed in on the company. Morgan Stanley restated a “buy” rating and set a $64.00 price objective (down previously from $68.00) on shares of Nike in a research report on Tuesday. Jefferies Group LLC lowered Nike to a “buy” rating in a research report on Tuesday. Vetr downgraded shares of Nike from a “strong-buy” rating to a “buy” rating and set a $59.57 price objective for the company. in a research note on Monday. Needham & Company LLC reissued a “hold” rating on shares of Nike in a research note on Thursday, August 24th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $66.00 price objective on shares of Nike in a research note on Thursday, August 24th. Three investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-three have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $60.36.

In other news, CFO Andrew Campion sold 96,243 shares of the firm’s stock in a transaction on Friday, June 30th. The shares were sold at an average price of $56.68, for a total value of $5,455,053.24. Following the sale, the chief financial officer now owns 50,246 shares in the company, valued at $2,847,943.28. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Trevor A. Edwards sold 200,000 shares of the firm’s stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $57.63, for a total transaction of $11,526,000.00. Following the completion of the sale, the insider now owns 729,610 shares in the company, valued at approximately $42,047,424.30. The disclosure for this sale can be found here. In the last quarter, insiders have sold 492,360 shares of company stock worth $28,485,174. Corporate insiders own 3.90% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Cambridge Advisors Inc. boosted its position in shares of Nike by 0.3% in the first quarter. Cambridge Advisors Inc. now owns 24,330 shares of the footwear maker’s stock worth $1,356,000 after buying an additional 83 shares during the last quarter. Rothschild Investment Corp IL raised its stake in shares of Nike by 18.7% in the first quarter. Rothschild Investment Corp IL now owns 12,619 shares of the footwear maker’s stock worth $703,000 after buying an additional 1,992 shares during the period. Huntington National Bank raised its stake in shares of Nike by 0.9% in the first quarter. Huntington National Bank now owns 876,587 shares of the footwear maker’s stock worth $48,853,000 after buying an additional 8,064 shares during the period. Bright Rock Capital Management LLC acquired a new stake in shares of Nike during the first quarter worth $5,016,000. Finally, West Coast Financial LLC raised its stake in shares of Nike by 0.8% in the first quarter. West Coast Financial LLC now owns 96,564 shares of the footwear maker’s stock worth $5,382,000 after buying an additional 781 shares during the period. 62.71% of the stock is owned by hedge funds and other institutional investors.

The firm’s 50 day moving average price is $57.44 and its 200 day moving average price is $55.76. The firm has a market capitalization of $86.78 billion, a P/E ratio of 21.04 and a beta of 0.59.

Nike (NYSE:NKE) last posted its earnings results on Thursday, June 29th. The footwear maker reported $0.60 EPS for the quarter, beating the consensus estimate of $0.50 by $0.10. The firm had revenue of $8.68 billion during the quarter, compared to the consensus estimate of $8.63 billion. Nike had a return on equity of 34.18% and a net margin of 12.34%. The business’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period last year, the company earned $0.49 earnings per share. Equities research analysts predict that Nike, Inc. will post $2.42 EPS for the current year.

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 paid a dividend of $0.18 per share. The ex-dividend date is Thursday, August 31st. This represents a $0.72 annualized dividend and a yield of 1.36%. Nike’s dividend payout ratio is currently 28.69%.

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About Nike

NIKE, Inc is engaged in the design, development, marketing and selling of athletic footwear, apparel, equipment, accessories and services. The Company’s operating segments include North America, Western Europe, Central & Eastern Europe, Greater China, Japan and Emerging Markets. Its portfolio brands include the NIKE Brand, Jordan Brand, Hurley and Converse.

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