Financial Perspectives Inc Reduces Stake in NIKE, Inc. (NYSE:NKE)

Financial Perspectives Inc lowered its stake in shares of NIKE, Inc. (NYSE:NKE) by 28.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 629 shares of the footwear maker’s stock after selling 253 shares during the quarter. Financial Perspectives Inc’s holdings in NIKE were worth $59,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of NKE. Axxcess Wealth Management LLC boosted its stake in NIKE by 32.3% in the third quarter. Axxcess Wealth Management LLC now owns 9,133 shares of the footwear maker’s stock valued at $873,000 after acquiring an additional 2,229 shares in the last quarter. Alps Advisors Inc. raised its position in NIKE by 114.5% during the 3rd quarter. Alps Advisors Inc. now owns 73,649 shares of the footwear maker’s stock worth $7,042,000 after buying an additional 39,310 shares during the last quarter. Legacy Advisors LLC grew its position in shares of NIKE by 14.7% in the third quarter. Legacy Advisors LLC now owns 48,523 shares of the footwear maker’s stock valued at $4,656,000 after purchasing an additional 6,232 shares during the last quarter. London Co. of Virginia grew its stake in NIKE by 10.0% in the 3rd quarter. London Co. of Virginia now owns 148,269 shares of the footwear maker’s stock worth $14,177,000 after acquiring an additional 13,503 shares during the period. Finally, Lake Street Advisors Group LLC increased its stake in NIKE by 1.6% during the third quarter. Lake Street Advisors Group LLC now owns 16,321 shares of the footwear maker’s stock worth $1,561,000 after acquiring an additional 264 shares during the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

Insider Buying and Selling

In other news, Director Robert Holmes Swan purchased 2,941 shares of the business’s stock in a transaction on Friday, June 28th. The shares were acquired at an average price of $77.02 per share, with a total value of $226,515.82. Following the completion of the transaction, the director now owns 20,946 shares of the company’s stock, valued at approximately $1,613,260.92. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, VP Johanna Nielsen sold 282 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $93.64, for a total value of $26,406.48. Following the transaction, the vice president now directly owns 730 shares in the company, valued at $68,357.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Robert Holmes Swan bought 2,941 shares of the company’s stock in a transaction on Friday, June 28th. The shares were bought at an average price of $77.02 per share, with a total value of $226,515.82. Following the completion of the transaction, the director now owns 20,946 shares of the company’s stock, valued at $1,613,260.92. The disclosure for this purchase can be found here. Insiders sold 213,660 shares of company stock valued at $19,946,333 over the last quarter. Insiders own 0.50% of the company’s stock.

NIKE Stock Down 1.1 %

Shares of NKE stock traded down $0.80 on Thursday, hitting $75.24. 15,952,008 shares of the stock were exchanged, compared to its average volume of 17,969,314. The firm has a market capitalization of $113.56 billion, a P/E ratio of 20.17, a price-to-earnings-growth ratio of 1.85 and a beta of 1.01. NIKE, Inc. has a fifty-two week low of $74.29 and a fifty-two week high of $123.39. The business has a 50-day moving average of $92.19 and a 200 day moving average of $98.06. The company has a current ratio of 2.40, a quick ratio of 1.69 and a debt-to-equity ratio of 0.55.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The firm had revenue of $12.60 billion for the quarter, compared to analyst estimates of $12.86 billion. During the same period last year, the firm posted $0.66 earnings per share. The business’s revenue for the quarter was down 1.6% on a year-over-year basis. Equities analysts anticipate that NIKE, Inc. will post 3.32 EPS for the current year.

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Monday, June 3rd were given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 1.97%. The ex-dividend date was Monday, June 3rd. NIKE’s dividend payout ratio (DPR) is presently 39.68%.

Analysts Set New Price Targets

Several research analysts recently commented on NKE shares. BMO Capital Markets cut their price target on shares of NIKE from $118.00 to $100.00 and set an “outperform” rating on the stock in a report on Friday, June 28th. Evercore ISI reduced their target price on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a report on Friday, June 28th. Telsey Advisory Group lowered their price target on NIKE from $115.00 to $100.00 and set an “outperform” rating for the company in a report on Friday, June 28th. StockNews.com lowered NIKE from a “buy” rating to a “hold” rating in a research report on Friday, June 21st. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $88.00 target price (down previously from $117.00) on shares of NIKE in a research report on Friday, June 28th. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $97.19.

About NIKE

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.