RKL Wealth Management LLC lessened its stake in Nike Inc (NYSE:NKE) by 1.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,096 shares of the footwear maker’s stock after selling 382 shares during the period. RKL Wealth Management LLC’s holdings in Nike were worth $2,275,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Joseph P. Lucia & Associates LLC purchased a new position in Nike during the 1st quarter valued at about $25,000. Shamrock Asset Management LLC purchased a new position in Nike during the 1st quarter valued at about $25,000. Jackson Grant Investment Advisers Inc. purchased a new position in Nike during the 1st quarter valued at about $25,000. Thor Advisors LLC purchased a new position in Nike during the 1st quarter valued at about $26,000. Finally, Mackey Komara & Dankovich LLC purchased a new position in Nike during the 1st quarter valued at about $30,000. 66.15% of the stock is currently owned by institutional investors.

NKE stock traded up $0.77 during trading on Friday, reaching $80.28. The company had a trading volume of 5,522,800 shares, compared to its average volume of 6,195,173. The firm has a 50-day simple moving average of $85.23 and a 200-day simple moving average of $84.66. The company has a market cap of $124.58 billion, a price-to-earnings ratio of 32.24, a price-to-earnings-growth ratio of 2.11 and a beta of 0.78. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.39 and a current ratio of 2.10. Nike Inc has a twelve month low of $66.53 and a twelve month high of $90.00.

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

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Tuesday, September 3rd will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date of this dividend is Friday, August 30th. Nike’s dividend payout ratio (DPR) is presently 35.34%.

In related news, EVP John F. Slusher sold 110,000 shares of Nike stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $85.26, for a total value of $9,378,600.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Hilary K. Krane sold 17,903 shares of Nike stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $88.70, for a total transaction 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 valued at $16,767,237 over the last quarter. 3.80% of the stock is owned by company insiders.

NKE has been the topic of a number of research reports. Bank of America raised shares of Nike to an “underperform” rating and raised their target price for the company from $60.00 to $70.00 in a research report on Monday, June 24th. Macquarie set a $89.00 price objective on shares of Nike and gave the stock a “buy” rating in a research report on Friday, June 28th. JPMorgan Chase & Co. lifted their price objective on shares of Nike from $90.00 to $100.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 9th. Morgan Stanley lifted their price objective on shares of Nike from $103.00 to $108.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 6th. Finally, Deutsche Bank set a $100.00 price objective on shares of Nike and gave the stock a “buy” rating in a research report on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and twenty-two have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $90.02.

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.

See Also: What is an SEC Filing?

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Institutional Ownership by Quarter for Nike (NYSE:NKE)

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