Transcend Capital Advisors LLC Decreases Holdings in NIKE, Inc. $NKE

Transcend Capital Advisors LLC lowered its position in NIKE, Inc. (NYSE:NKE) by 63.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,495 shares of the footwear maker’s stock after selling 14,649 shares during the period. Transcend Capital Advisors LLC’s holdings in NIKE were worth $349,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Cornerstone Financial Management LLC acquired a new position in NIKE during the fourth quarter worth $26,000. Sankala Group LLC purchased a new stake in NIKE during the fourth quarter worth $26,000. J.Safra Asset Management Corp acquired a new stake in NIKE in the fourth quarter valued at $29,000. Kemnay Advisory Services Inc. acquired a new stake in NIKE in the fourth quarter valued at $30,000. Finally, Scarborough Advisors LLC acquired a new stake in NIKE in the first quarter valued at $25,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

Insider Activity

In other news, insider Amy Montagne sold 4,867 shares of NIKE stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $42.05, for a total transaction of $204,657.35. Following the completion of the sale, the insider directly owned 57,436 shares in the company, valued at $2,415,183.80. The trade was a 7.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Venkatesh Alagirisamy sold 890 shares of the business’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $41.60, for a total transaction of $37,024.00. Following the completion of the transaction, the chief operating officer directly owned 74,820 shares of the company’s stock, valued at approximately $3,112,512. This represents a 1.18% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 26,142 shares of company stock valued at $1,169,380 over the last quarter. 1.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on NKE. Deutsche Bank Aktiengesellschaft lifted their price target on NIKE from $43.00 to $45.00 and gave the stock a “hold” rating in a research note on Friday, July 17th. Weiss Ratings raised shares of NIKE from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday, July 17th. Royal Bank Of Canada restated a “neutral” rating on shares of NIKE in a report on Wednesday, July 1st. Rothschild & Co Redburn cut their target price on shares of NIKE from $45.00 to $37.00 and set a “sell” rating for the company in a research report on Friday, July 17th. Finally, UBS Group set a $48.00 price target on shares of NIKE and gave the company a “neutral” rating in a report on Wednesday, July 1st. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eighteen have assigned a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $53.53.

NIKE Stock Down 1.2%

Shares of NYSE:NKE opened at $40.73 on Friday. The company has a quick ratio of 1.36, a current ratio of 1.96 and a debt-to-equity ratio of 0.40. NIKE, Inc. has a 52-week low of $40.00 and a 52-week high of $80.17. The stock’s fifty day simple moving average is $42.90 and its 200-day simple moving average is $48.73. The company 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.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Tuesday, June 30th. The footwear maker reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.09. The business had revenue of $10.97 billion for the quarter, compared to analyst estimates of $10.85 billion. NIKE had a return on equity of 16.54% and a net margin of 6.70%.The business’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.14 earnings per share. As a group, equities research analysts forecast that NIKE, Inc. will post 1.74 earnings per share for the current fiscal year.

NIKE Dividend Announcement

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

NIKE Company 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).