Westpac Banking Corp lessened its holdings in Nike Inc (NYSE:NKE) by 30.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 227,928 shares of the footwear maker’s stock after selling 100,916 shares during the quarter. Westpac Banking Corp’s holdings in Nike were worth $19,135,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of NKE. Joseph P. Lucia & Associates LLC acquired a new position in Nike in the 1st quarter worth approximately $25,000. Shamrock Asset Management LLC acquired a new position in Nike in the 1st quarter worth approximately $25,000. Jackson Grant Investment Advisers Inc. acquired a new position in Nike in the 1st quarter worth approximately $25,000. Thor Advisors LLC acquired a new position in Nike in the 1st quarter worth approximately $26,000. Finally, Mackey Komara & Dankovich LLC acquired a new position in Nike in the 1st quarter worth approximately $30,000. Institutional investors own 66.15% of the company’s stock.

Nike stock traded up $1.57 during trading on Tuesday, reaching $83.22. The company had a trading volume of 522,111 shares, compared to its average volume of 5,893,064. The company has a 50-day moving average of $85.43. Nike Inc has a 1-year low of $66.53 and a 1-year high of $90.00. The company has a market capitalization of $128.45 billion, a price-to-earnings ratio of 33.46, a PEG ratio of 2.17 and a beta of 0.78. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.10 and a quick ratio of 1.39.

Nike (NYSE:NKE) last announced its quarterly earnings data on Thursday, June 27th. The footwear maker reported $0.62 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.04). The firm had revenue of $10.18 billion during the quarter, compared to analysts’ expectations of $10.15 billion. Nike had a net margin of 10.30% and a return on equity of 45.12%. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.69 EPS. As a group, analysts expect that Nike Inc will post 2.9 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd will be issued a $0.22 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.88 dividend on an annualized basis and a yield of 1.06%. Nike’s payout ratio is currently 35.34%.

NKE has been the topic of a number of analyst reports. Goldman Sachs Group set a $83.00 price objective on shares of Nike and gave the stock a “neutral” rating in a research note on Monday, July 1st. Zacks Investment Research raised shares of Nike from a “sell” rating to a “hold” rating and set a $95.00 price objective on the stock in a research note on Monday, May 27th. Canaccord Genuity reaffirmed a “buy” rating and set a $96.00 price objective on shares of Nike in a research note on Wednesday, June 19th. JPMorgan Chase & Co. raised their price objective on shares of Nike from $90.00 to $100.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 9th. Finally, Macquarie set a $89.00 price objective on shares of Nike and gave the stock a “buy” rating in a research note on Friday, June 28th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twenty-two have assigned a buy rating to the company’s stock. Nike presently has a consensus rating of “Buy” and a consensus price target of $90.02.

In other Nike news, insider Elliott Hill sold 34,100 shares of the firm’s stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $88.34, for a total value of $3,012,394.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Hilary K. Krane sold 17,903 shares of the firm’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $88.70, for a total value of $1,587,996.10. The disclosure for this sale can be found here. Insiders sold a total of 194,637 shares of company stock worth $16,767,237 in the last 90 days. 3.80% of the stock is currently owned by insiders.

Nike Profile

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories: running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, lacrosse, skateboarding, tennis, volleyball, wrestling, walking, and outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.

Featured Article: Operating Income

Want to see what other hedge funds are holding NKE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nike Inc (NYSE:NKE).

Institutional Ownership by Quarter for Nike (NYSE:NKE)

Receive News & Ratings for Nike Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nike and related companies with MarketBeat.com's FREE daily email newsletter.