Stoneridge Investment Partners LLC Decreases Holdings in NIKE, Inc. $NKE

Stoneridge Investment Partners LLC trimmed its holdings in NIKE, Inc. (NYSE:NKE) by 32.5% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 53,227 shares of the footwear maker’s stock after selling 25,607 shares during the quarter. NIKE accounts for about 1.4% of Stoneridge Investment Partners LLC’s holdings, making the stock its 13th biggest holding. Stoneridge Investment Partners LLC’s holdings in NIKE were worth $2,220,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Main Street Financial Solutions LLC grew its holdings in shares of NIKE by 4.2% during the 2nd quarter. Main Street Financial Solutions LLC now owns 3,441 shares of the footwear maker’s stock valued at $244,000 after purchasing an additional 139 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in NIKE by 4.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,978 shares of the footwear maker’s stock worth $253,000 after purchasing an additional 163 shares during the period. ANB Bank lifted its stake in NIKE by 0.7% in the fourth quarter. ANB Bank now owns 25,451 shares of the footwear maker’s stock worth $1,621,000 after purchasing an additional 165 shares during the last quarter. Cornerstone Wealth Management LLC lifted its stake in NIKE by 4.4% in the fourth quarter. Cornerstone Wealth Management LLC now owns 3,970 shares of the footwear maker’s stock worth $253,000 after purchasing an additional 169 shares during the last quarter. Finally, Caldwell Sutter Capital Inc. boosted its position in NIKE by 7.6% during the fourth quarter. Caldwell Sutter Capital Inc. now owns 2,402 shares of the footwear maker’s stock valued at $153,000 after buying an additional 170 shares during the period. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Insider Activity at NIKE

In other news, COO Venkatesh Alagirisamy sold 890 shares of the firm’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $41.60, for a total value of $37,024.00. Following the completion of the sale, the chief operating officer directly owned 74,820 shares of the company’s stock, valued at approximately $3,112,512. This trade represents a 1.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Philip Mccartney sold 17,398 shares of NIKE stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $46.18, for a total transaction of $803,439.64. Following the sale, the executive vice president directly owned 53,133 shares in the company, valued at $2,453,681.94. The trade was a 24.67% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 26,142 shares of company stock valued at $1,169,380. 1.10% of the stock is currently owned by company insiders.

NIKE Price Performance

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 PE ratio of 19.49, a price-to-earnings-growth ratio of 1.81 and a beta of 1.11. The stock’s 50 day moving average price is $42.90 and its 200-day moving average price is $48.73. NIKE, Inc. has a 52-week low of $40.00 and a 52-week high of $80.17.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Tuesday, June 30th. The footwear maker reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.09. The company had revenue of $10.97 billion during 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 firm’s revenue was down 1.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.14 earnings per share. On average, equities research analysts predict that NIKE, Inc. will post 1.74 EPS for the current year.

NIKE Announces Dividend

The business also recently disclosed 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. The ex-dividend date is Tuesday, September 1st. This represents a $1.64 annualized dividend and a yield of 4.0%. NIKE’s dividend payout ratio is 78.47%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on NKE shares. Stifel Nicolaus set a $45.00 price objective on NIKE and gave the company a “hold” rating in a research note on Wednesday, July 1st. Wells Fargo & Company lowered their target price on NIKE from $45.00 to $40.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 1st. Guggenheim restated a “buy” rating and set a $60.00 target price (down from $74.00) on shares of NIKE in a report on Wednesday, July 1st. Barclays dropped their target price on NIKE from $67.00 to $52.00 and set an “overweight” rating for the company in a report on Wednesday, July 1st. Finally, BTIG Research restated a “buy” rating and set a $55.00 price target on shares of NIKE in a research 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 issued a Hold rating and five have assigned a Sell rating to the company’s stock. According to MarketBeat.com, NIKE currently has an average rating of “Hold” and an average target price of $53.53.

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).