Chatham Capital Group Inc. Sells 1,099 Shares of NIKE, Inc. (NYSE:NKE)

Chatham Capital Group Inc. lowered its stake in shares of NIKE, Inc. (NYSE:NKE) by 3.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 32,065 shares of the footwear maker’s stock after selling 1,099 shares during the period. Chatham Capital Group Inc.’s holdings in NIKE were worth $3,013,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of NKE. Arlington Financial Advisors LLC grew its position in NIKE by 33.9% during the 1st quarter. Arlington Financial Advisors LLC now owns 36,618 shares of the footwear maker’s stock worth $3,441,000 after purchasing an additional 9,269 shares during the period. Cornerstone Wealth Group LLC acquired a new position in shares of NIKE during the 1st quarter worth approximately $241,000. Annapolis Financial Services LLC lifted its position in shares of NIKE by 440.0% during the 1st quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock valued at $25,000 after buying an additional 220 shares in the last quarter. New Mexico Educational Retirement Board grew its stake in NIKE by 15.7% in the 1st quarter. New Mexico Educational Retirement Board now owns 74,248 shares of the footwear maker’s stock valued at $6,978,000 after acquiring an additional 10,100 shares during the period. Finally, Foguth Wealth Management LLC. purchased a new stake in NIKE in the 1st quarter worth $468,000. Institutional investors own 64.25% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. BMO Capital Markets cut their target price on NIKE from $118.00 to $100.00 and set an “outperform” rating for the company in a research note on Friday. Wells Fargo & Company decreased their price objective on shares of NIKE from $115.00 to $92.00 and set an “overweight” rating on the stock in a report on Friday. Sanford C. Bernstein lowered their price objective on shares of NIKE from $134.00 to $120.00 and set an “outperform” rating for the company in a research report on Friday, March 22nd. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $115.00 target price on shares of NIKE in a research report on Thursday, June 13th. Finally, HSBC lowered their price target on NIKE from $100.00 to $90.00 and set a “hold” rating for the company in a research report on Friday. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $98.96.

NIKE Stock Down 20.0 %

NKE stock traded down $18.82 during trading on Friday, hitting $75.37. 129,966,982 shares of the company’s stock were exchanged, compared to its average volume of 9,446,953. The stock has a market capitalization of $113.76 billion, a price-to-earnings ratio of 20.21, a PEG ratio of 1.43 and a beta of 1.05. NIKE, Inc. has a 52-week low of $74.55 and a 52-week high of $123.39. The company has a current ratio of 2.74, a quick ratio of 1.89 and a debt-to-equity ratio of 0.63. The business has a 50-day moving average price of $93.28 and a two-hundred day moving average price of $98.85.

NIKE (NYSE:NKE) last issued its earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.16. NIKE had a net margin of 11.10% and a return on equity of 42.87%. The business had revenue of $12.60 billion during the quarter, compared to analysts’ expectations of $12.86 billion. During the same quarter in the prior year, the business posted $0.66 EPS. The company’s revenue for the quarter was down 1.6% on a year-over-year basis. As a group, equities research analysts expect that NIKE, Inc. will post 3.9 EPS for the current year.

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 1.96%. The ex-dividend date is Monday, June 3rd. NIKE’s payout ratio is currently 39.68%.

Insider Activity at NIKE

In other news, EVP Monique S. Matheson sold 45,000 shares of NIKE stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $94.16, for a total value of $4,237,200.00. Following the transaction, the executive vice president now directly owns 44,997 shares of the company’s stock, valued at approximately $4,236,917.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other NIKE news, EVP Monique S. Matheson sold 45,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $94.16, for a total transaction of $4,237,200.00. Following the completion of the sale, the executive vice president now directly owns 44,997 shares of the company’s stock, valued at approximately $4,236,917.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Mark G. Parker sold 168,378 shares of NIKE stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $93.14, for a total value of $15,682,726.92. Following the completion of the transaction, the chairman now owns 1,102,090 shares in the company, valued at $102,648,662.60. The disclosure for this sale can be found here. Insiders sold a total of 213,660 shares of company stock valued at $19,946,333 in the last three months. 0.50% of the stock is currently owned by company insiders.

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.