Everett Harris & Co. CA Reduces Holdings in NIKE, Inc. $NKE

Everett Harris & Co. CA lowered its position in shares of NIKE, Inc. (NYSE:NKE) by 41.3% during the second quarter, Holdings Channel reports. The firm owned 608,026 shares of the footwear maker’s stock after selling 427,804 shares during the quarter. Everett Harris & Co. CA’s holdings in NIKE were worth $24,959,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Cornerstone Financial Management LLC purchased a new position in NIKE during the 4th quarter worth approximately $26,000. Sankala Group LLC acquired a new position in NIKE during the fourth quarter worth approximately $26,000. J.Safra Asset Management Corp purchased a new stake in NIKE in the fourth quarter valued at approximately $29,000. Kemnay Advisory Services Inc. purchased a new stake in NIKE in the fourth quarter valued at approximately $30,000. Finally, Scarborough Advisors LLC acquired a new stake in shares of NIKE in the first quarter valued at approximately $25,000. 64.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on NKE. CICC Research lowered their target price on shares of NIKE from $58.00 to $44.80 and set a “neutral” rating on the stock in a research report on Thursday, July 2nd. Berenberg Bank set a $49.00 price target on shares of NIKE and gave the stock a “hold” rating in a research note on Friday, July 3rd. Citigroup reiterated a “neutral” rating on shares of NIKE in a research note on Wednesday, July 22nd. JPMorgan Chase & Co. reissued an “underweight” rating and set a $40.00 price objective (down from $47.00) on shares of NIKE in a research report on Tuesday, August 4th. Finally, The Goldman Sachs Group reduced their target price on shares of NIKE from $46.00 to $42.00 and set a “neutral” rating for the company in a report on Wednesday, July 1st. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eighteen have issued a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat.com, NIKE has a consensus rating of “Hold” and a consensus target price of $53.53.

Insider Activity

In other NIKE news, CFO Matthew Friend sold 2,463 shares of NIKE stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $41.60, for a total value of $102,460.80. Following the sale, the chief financial officer owned 82,165 shares of the company’s stock, valued at approximately $3,418,064. The trade was a 2.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Amy Montagne sold 4,867 shares of the stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $42.05, for a total value of $204,657.35. Following the transaction, the insider directly owned 57,436 shares of the company’s stock, valued at approximately $2,415,183.80. This trade represents a 7.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 26,142 shares of company stock worth $1,169,380 in the last three months. 1.10% of the stock is currently owned by company insiders.

NIKE Stock Performance

Shares of NKE opened at $40.73 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.36 and a current ratio of 1.96. The stock has a market capitalization of $60.42 billion, a P/E ratio of 19.49, a P/E/G ratio of 1.83 and a beta of 1.11. The company’s fifty day moving average is $42.90 and its two-hundred day moving average is $48.73. NIKE, Inc. has a 1 year low of $40.00 and a 1 year high of $80.17.

NIKE (NYSE:NKE) last released its earnings results on Tuesday, June 30th. The footwear maker reported $0.20 EPS for the quarter, topping the consensus estimate of $0.11 by $0.09. The company had revenue of $10.97 billion during the quarter, compared to analysts’ expectations of $10.85 billion. NIKE had a net margin of 6.70% and a return on equity of 16.54%. The business’s revenue was down 1.1% on a year-over-year basis. During the same quarter last year, the business earned $0.14 EPS. On average, sell-side analysts predict that NIKE, Inc. will post 1.74 earnings per share for the current year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 1st will be given a $0.41 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $1.64 dividend on an annualized basis and a yield of 4.0%. NIKE’s dividend payout ratio (DPR) is presently 78.47%.

NIKE Profile

Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).