Franklin Street Advisors Inc. NC cut its stake in Nike, Inc. (NYSE:NKE) by 8.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 86,529 shares of the footwear maker’s stock after selling 7,495 shares during the period. Franklin Street Advisors Inc. NC’s holdings in Nike were worth $5,105,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Accredited Investors Inc. lifted its position in Nike by 0.5% in the first quarter. Accredited Investors Inc. now owns 4,167 shares of the footwear maker’s stock valued at $232,000 after acquiring an additional 19 shares during the last quarter. Montecito Bank & Trust lifted its position in Nike by 0.3% in the first 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 during the last quarter. Smith Shellnut Wilson LLC ADV lifted its position in Nike by 0.3% in the second 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 during the last quarter. Intrust Bank NA lifted its position in Nike by 0.9% in the first 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 during the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. lifted its position in Nike by 0.5% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 9,749 shares of the footwear maker’s stock valued at $543,000 after acquiring an additional 50 shares during the last quarter. 62.63% of the stock is owned by hedge funds and other institutional investors.

Nike, Inc. (NYSE NKE) traded down 1.48% during trading on Friday, reaching $51.85. 12,189,882 shares of the company’s stock were exchanged. Nike, Inc. has a 52 week low of $49.01 and a 52 week high of $60.53. The company’s 50 day moving average price is $55.57 and its 200-day moving average price is $55.39. The stock has a market capitalization of $84.99 billion, a price-to-earnings ratio of 22.07 and a beta of 0.61.

Nike (NYSE:NKE) last announced its quarterly earnings data on Tuesday, September 26th. The footwear maker reported $0.57 EPS for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.09. Nike had a net margin of 11.47% and a return on equity of 31.88%. The firm had revenue of $9.07 billion for the quarter, compared to the consensus estimate of $9.08 billion. During the same period in the previous year, the firm posted $0.73 earnings per share. The firm’s revenue was up .1% on a year-over-year basis. On average, equities analysts expect that Nike, Inc. will post $2.35 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Investors 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 yield of 1.39%. The ex-dividend date is Thursday, August 31st. Nike’s payout ratio is presently 30.64%.

NKE has been the subject of a number of research reports. Goldman Sachs Group, Inc. (The) set a $62.00 price target on shares of Nike and gave the company a “buy” rating in a research report on Friday, June 16th. Vetr raised shares of Nike from a “hold” rating to a “buy” rating and set a $55.06 price target for the company in a research report on Thursday, June 15th. Berenberg Bank reissued a “buy” rating and issued a $70.00 price target on shares of Nike in a research report on Wednesday, June 14th. Deutsche Bank AG set a $63.00 price target on shares of Nike and gave the company a “buy” rating in a research report on Tuesday, June 20th. Finally, Credit Suisse Group set a $63.00 price target on shares of Nike and gave the company a “buy” rating in a research report on Saturday, June 24th. Five investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and twenty-one have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $59.25.

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In related news, CAO Hilary K. Krane sold 28,072 shares of the business’s stock in a transaction that occurred on Friday, July 14th. The shares were sold at an average price of $58.10, for a total transaction of $1,630,983.20. Following the transaction, the chief accounting officer now directly owns 177,723 shares of the company’s stock, valued at $10,325,706.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Andrew Campion sold 5,722 shares of the business’s stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $59.40, for a total transaction of $339,886.80. Following the transaction, the chief financial officer now directly owns 34,976 shares in the company, valued at $2,077,574.40. The disclosure for this sale can be found here. Insiders have sold 362,117 shares of company stock worth $20,935,321 over the last ninety days. 3.90% of the stock is currently owned by insiders.

Nike 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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