Secure Asset Management LLC Sells 8,308 Shares of NIKE, Inc. $NKE

Secure Asset Management LLC reduced its position in shares of NIKE, Inc. (NYSE:NKE) by 27.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,279 shares of the footwear maker’s stock after selling 8,308 shares during the quarter. Secure Asset Management LLC’s holdings in NIKE were worth $1,583,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NKE. Stone House Investment Management LLC bought a new stake in NIKE during the first quarter worth $25,000. Heck Capital Advisors LLC bought a new stake in NIKE during the fourth quarter worth $28,000. Saudi Central Bank bought a new position in shares of NIKE in the first quarter valued at about $30,000. Roxbury Financial LLC raised its position in shares of NIKE by 52.1% in the first quarter. Roxbury Financial LLC now owns 587 shares of the footwear maker’s stock valued at $37,000 after purchasing an additional 201 shares during the period. Finally, N.E.W. Advisory Services LLC bought a new position in shares of NIKE in the first quarter valued at about $37,000. 64.25% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on NKE. Hsbc Global Res raised shares of NIKE from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 27th. Wall Street Zen raised shares of NIKE from a “sell” rating to a “hold” rating in a research report on Saturday, September 6th. Bank of America increased their price objective on shares of NIKE from $80.00 to $84.00 and gave the company a “buy” rating in a research report on Friday, June 27th. Argus raised shares of NIKE to a “buy” rating in a research report on Sunday, July 6th. Finally, Citigroup increased their price objective on shares of NIKE from $68.00 to $74.00 and gave the company a “neutral” rating in a research report on Tuesday. Three research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat, NIKE currently has an average rating of “Moderate Buy” and a consensus price target of $78.89.

Insider Transactions at NIKE

In related news, Chairman Mark G. Parker sold 110,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $72.29, for a total value of $7,951,900.00. Following the completion of the transaction, the chairman owned 842,361 shares in the company, valued at $60,894,276.69. This trade represents a 11.55% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.80% of the stock is currently owned by company insiders.

NIKE Stock Down 0.6%

Shares of NYSE NKE opened at $72.30 on Thursday. The company has a 50 day simple moving average of $75.27 and a 200 day simple moving average of $67.66. The firm has a market cap of $106.78 billion, a PE ratio of 33.47, a price-to-earnings-growth ratio of 2.64 and a beta of 1.24. NIKE, Inc. has a 1 year low of $52.28 and a 1 year high of $90.62. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.21 and a quick ratio of 1.50.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Thursday, June 26th. The footwear maker reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.02. The business had revenue of $11.10 billion during the quarter, compared to analyst estimates of $10.69 billion. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The firm’s quarterly revenue was down 11.9% on a year-over-year basis. During the same quarter last year, the business earned $0.99 EPS. On average, research analysts forecast that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Tuesday, September 2nd. NIKE’s dividend payout ratio (DPR) is 74.07%.

NIKE Profile

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, accessories, and services worldwide. The company provides athletic and casual footwear, apparel, and accessories under the Jumpman trademark; and casual sneakers, apparel, and accessories under the Converse, Chuck Taylor, All Star, One Star, Star Chevron, and Jack Purcell trademarks.