Alpha Cubed Investments LLC lowered its stake in Nike, Inc. (NYSE:NKE) by 1.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,482 shares of the footwear maker’s stock after selling 71 shares during the quarter. Alpha Cubed Investments LLC’s holdings in Nike were worth $382,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Accredited Investors Inc. boosted its stake in Nike by 0.5% in the 1st quarter. Accredited Investors Inc. now owns 4,167 shares of the footwear maker’s stock worth $232,000 after purchasing an additional 19 shares during the period. Montecito Bank & Trust raised its holdings in shares of Nike by 0.3% in the 1st quarter. Montecito Bank & Trust now owns 7,200 shares of the footwear maker’s stock valued at $402,000 after acquiring an additional 24 shares in the last quarter. Smith Shellnut Wilson LLC ADV raised its holdings in shares of Nike by 0.3% in the 2nd quarter. Smith Shellnut Wilson LLC ADV now owns 14,894 shares of the footwear maker’s stock valued at $822,000 after acquiring an additional 41 shares in the last quarter. Intrust Bank NA raised its holdings in shares of Nike by 0.9% in the 1st quarter. Intrust Bank NA now owns 5,082 shares of the footwear maker’s stock valued at $283,000 after acquiring an additional 46 shares in the last quarter. Finally, Welch & Forbes LLC raised its holdings in shares of Nike by 0.5% in the 1st quarter. Welch & Forbes LLC now owns 9,998 shares of the footwear maker’s stock valued at $557,000 after acquiring an additional 48 shares in the last quarter. Institutional investors and hedge funds own 62.72% of the company’s stock.

In related news, insider Trevor A. Edwards sold 200,000 shares of the business’s stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $57.63, for a total transaction of $11,526,000.00. Following the completion of the transaction, the insider now owns 729,610 shares in the company, valued at $42,047,424.30. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Eric D. Sprunk sold 112,323 shares of the business’s stock in a transaction on Friday, July 28th. The stock was sold at an average price of $58.61, for a total transaction of $6,583,251.03. Following the transaction, the insider now owns 139,551 shares of the company’s stock, valued at approximately $8,179,084.11. The disclosure for this sale can be found here. Insiders have sold 492,360 shares of company stock worth $28,485,174 in the last ninety days. Corporate insiders own 3.90% of the company’s stock.

A number of equities analysts recently weighed in on the company. Piper Jaffray Companies set a $50.00 price objective on Nike and gave the company a “hold” rating in a report on Saturday, July 1st. BidaskClub raised Nike from a “sell” rating to a “hold” rating in a report on Wednesday, June 14th. Vetr cut Nike from a “buy” rating to a “hold” rating and set a $54.16 price objective on the stock. in a report on Monday, June 5th. Robert W. Baird reissued an “outperform” rating and set a $62.00 price objective on shares of Nike in a report on Friday, June 30th. Finally, Goldman Sachs Group, Inc. (The) reissued a “buy” rating and set a $58.00 price objective (down from $63.00) on shares of Nike in a report on Monday, August 21st. Three research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-three have issued a buy rating to the company. Nike currently has a consensus rating of “Buy” and an average target price of $60.42.

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Shares of Nike, Inc. (NYSE:NKE) opened at 53.03 on Tuesday. The firm’s 50-day moving average price is $56.57 and its 200 day moving average price is $55.58. The company has a market cap of $87.14 billion, a PE ratio of 21.13 and a beta of 0.61. Nike, Inc. has a 12 month low of $49.01 and a 12 month high of $60.53.

Nike (NYSE:NKE) last posted its quarterly earnings data on Thursday, June 29th. The footwear maker reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.10. Nike had a return on equity of 34.18% and a net margin of 12.34%. The business had revenue of $8.68 billion for the quarter, compared to analyst estimates of $8.63 billion. During the same quarter in the prior year, the company earned $0.49 earnings per share. The company’s revenue was up 5.3% on a year-over-year basis. Equities research analysts anticipate that Nike, Inc. will post $2.41 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Tuesday, September 5th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date of this dividend is Thursday, August 31st. Nike’s dividend payout ratio is currently 28.69%.

Nike Company Profile

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.

Institutional Ownership by Quarter for Nike (NYSE:NKE)

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