HighTower Advisors LLC Has $15.28 Million Stock Holdings in NIKE, Inc. $NKE

HighTower Advisors LLC lowered its stake in NIKE, Inc. (NYSE:NKE) by 81.1% during the second quarter, HoldingsChannel.com reports. The firm owned 372,300 shares of the footwear maker’s stock after selling 1,593,250 shares during the period. HighTower Advisors LLC’s holdings in NIKE were worth $15,283,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. California State Teachers Retirement System boosted its holdings in NIKE by 4,052.9% during the second quarter. California State Teachers Retirement System now owns 75,611,801 shares of the footwear maker’s stock worth $3,103,864,000 after buying an additional 73,791,103 shares during the last quarter. State Street Corp raised its position in shares of NIKE by 2.2% in the 4th quarter. State Street Corp now owns 59,315,606 shares of the footwear maker’s stock valued at $3,802,807,000 after acquiring an additional 1,275,494 shares during the period. Capital World Investors raised its position in shares of NIKE by 16.2% in the 4th quarter. Capital World Investors now owns 49,069,951 shares of the footwear maker’s stock valued at $3,126,246,000 after acquiring an additional 6,830,938 shares during the period. J. Stern & Co. LLP boosted its stake in NIKE by 49,010.4% during the 4th quarter. J. Stern & Co. LLP now owns 48,054,542 shares of the footwear maker’s stock worth $3,061,555,000 after acquiring an additional 47,956,692 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in NIKE by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 26,442,879 shares of the footwear maker’s stock worth $1,677,251,000 after acquiring an additional 233,925 shares during the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at NIKE

In other NIKE news, CFO Matthew Friend sold 2,463 shares of the business’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $41.60, for a total transaction of $102,460.80. Following the sale, the chief financial officer directly owned 82,165 shares of the company’s stock, valued at $3,418,064. The trade was a 2.91% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 transaction, the chief operating officer owned 74,820 shares of the company’s stock, valued at $3,112,512. The trade was 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. In the last three months, insiders sold 26,142 shares of company stock worth $1,169,380. Company insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Telsey Advisory Group set a $47.00 target price on shares of NIKE and gave the company a “market perform” rating in a research note on Wednesday, July 1st. Robert W. Baird reissued an “outperform” rating and issued a $70.00 price target on shares of NIKE in a report on Wednesday, July 1st. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $45.00 price objective on shares of NIKE in a research note on Tuesday, August 25th. Weiss Ratings upgraded NIKE from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, July 17th. Finally, Stifel Nicolaus set a $45.00 target price on NIKE and gave the company a “hold” rating in a research note on Wednesday, July 1st. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, twenty have issued a Hold rating and five have issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $51.33.

More NIKE News

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: Some analysts believe NIKE’s underlying business is not fundamentally broken. Potential longer-term catalysts include growth in the Running category, new product launches, and a possible recovery in demand if management successfully refreshes the brand. Nike: The Sentiment Is Bleak, But The Underlying Business Is Not Broken
• Positive Sentiment: One bullish Wall Street view argues that NIKE’s shares could potentially nearly double from current levels, although that outlook is an outlier compared with broader analyst caution. Nike Is In Free Fall: This Wall Street Ratings Agency Says It’s Doubling Soon

NIKE Stock Performance

Shares of NIKE stock opened at $37.34 on Thursday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.96 and a quick ratio of 1.36. The firm has a market cap of $55.40 billion, a price-to-earnings ratio of 17.87, a price-to-earnings-growth ratio of 1.87 and a beta of 1.10. The stock’s 50-day moving average is $41.34 and its 200-day moving average is $45.58. NIKE, Inc. has a one year low of $36.85 and a one year high of $76.97.

NIKE (NYSE:NKE) last announced its earnings results on Tuesday, June 30th. The footwear maker reported $0.20 earnings per share (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%.NIKE’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.14 EPS. Equities analysts predict that NIKE, Inc. will post 1.74 earnings per share for the current fiscal year.

NIKE Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders 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 dividend on an annualized basis and a dividend yield of 4.4%. NIKE’s dividend payout ratio (DPR) is 78.47%.

NIKE Company Profile

NIKE, Inc is a global athletic footwear, apparel and equipment company headquartered near Beaverton, Oregon. The company designs, develops and markets products under the NIKE, Jordan and Converse brands, serving athletes and consumers across a broad range of sports and lifestyle categories.

NIKE’s offerings include athletic and casual footwear, sportswear, apparel, accessories and athletic equipment. The company distributes its products through company-owned retail stores, digital platforms, wholesale partners and independent distributors.