Dynamic Advisor Solutions LLC Trims Holdings in NIKE, Inc. (NYSE:NKE)

Dynamic Advisor Solutions LLC trimmed its stake in shares of NIKE, Inc. (NYSE:NKE) by 21.3% during the 2nd quarter, Holdings Channel reports. The fund owned 15,799 shares of the footwear maker’s stock after selling 4,285 shares during the quarter. Dynamic Advisor Solutions LLC’s holdings in NIKE were worth $1,191,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in NIKE by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 110,044,821 shares of the footwear maker’s stock valued at $10,342,012,000 after purchasing an additional 501,792 shares in the last quarter. Capital International Investors raised its holdings in NIKE by 34.9% in the 4th quarter. Capital International Investors now owns 27,609,613 shares of the footwear maker’s stock valued at $2,997,628,000 after acquiring an additional 7,143,775 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in NIKE by 87.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 17,135,431 shares of the footwear maker’s stock valued at $1,860,395,000 after acquiring an additional 7,996,434 shares during the last quarter. Norges Bank acquired a new stake in NIKE in the 4th quarter valued at about $1,315,097,000. Finally, Fisher Asset Management LLC raised its holdings in NIKE by 2.3% in the 4th quarter. Fisher Asset Management LLC now owns 9,887,769 shares of the footwear maker’s stock valued at $1,073,515,000 after acquiring an additional 219,091 shares during the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have commented on NKE shares. TD Cowen cut their price objective on shares of NIKE from $75.00 to $71.00 and set a “hold” rating for the company in a report on Thursday, July 25th. UBS Group reissued a “neutral” rating and issued a $78.00 price target on shares of NIKE in a research note on Friday, June 28th. HSBC dropped their price target on shares of NIKE from $100.00 to $90.00 and set a “hold” rating for the company in a research note on Friday, June 28th. Wedbush dropped their price target on shares of NIKE from $115.00 to $97.00 and set an “outperform” rating for the company in a research note on Friday, June 28th. Finally, Royal Bank of Canada dropped their price target on shares of NIKE from $100.00 to $75.00 and set a “sector perform” rating for the company in a research note on Tuesday, July 2nd. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $96.30.

Insiders Place Their Bets

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the completion of the sale, the chairman now directly owns 1,102,090 shares in the company, valued at $80,419,507.30. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Robert Holmes Swan purchased 2,941 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The shares were purchased at an average cost of $77.02 per share, with a total value of $226,515.82. Following the completion of the acquisition, the director now directly owns 20,946 shares of the company’s stock, valued at approximately $1,613,260.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Mark G. Parker sold 110,000 shares of the company’s stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the completion of the sale, the chairman now directly owns 1,102,090 shares in the company, valued at $80,419,507.30. The disclosure for this sale can be found here. 0.50% of the stock is owned by insiders.

NIKE Trading Up 2.4 %

NKE stock traded up $1.81 on Tuesday, hitting $76.45. 2,040,629 shares of the company were exchanged, compared to its average volume of 11,328,504. NIKE, Inc. has a twelve month low of $70.75 and a twelve month high of $123.39. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.40 and a quick ratio of 1.69. The business’s fifty day moving average is $81.34 and its two-hundred day moving average is $91.40. The stock has a market capitalization of $115.39 billion, a price-to-earnings ratio of 20.01, a price-to-earnings-growth ratio of 1.92 and a beta of 1.01.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, topping the consensus estimate of $0.85 by $0.16. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The firm had revenue of $12.60 billion during the quarter, compared to analyst estimates of $12.86 billion. During the same quarter in the prior year, the business posted $0.66 earnings per share. NIKE’s revenue for the quarter was down 1.6% compared to the same quarter last year. As a group, research analysts forecast that NIKE, Inc. will post 3.12 earnings per share for the current year.

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd will be paid a dividend of $0.37 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $1.48 annualized dividend and a yield of 1.94%. NIKE’s dividend payout ratio is currently 39.68%.

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.