Means Investment CO. Inc. Reduces Stock Position in NIKE, Inc. (NYSE:NKE)

Means Investment CO. Inc. cut its holdings in NIKE, Inc. (NYSE:NKE) by 26.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,127 shares of the footwear maker’s stock after selling 7,062 shares during the quarter. Means Investment CO. Inc.’s holdings in NIKE were worth $1,517,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of NKE. Tennessee Valley Asset Management Partners bought a new stake in NIKE in the fourth quarter valued at $51,000. Twin Capital Management Inc. boosted its stake in shares of NIKE by 2.3% during the 4th quarter. Twin Capital Management Inc. now owns 6,574 shares of the footwear maker’s stock valued at $714,000 after purchasing an additional 145 shares in the last quarter. Lafayette Investments Inc. increased its position in shares of NIKE by 9.1% during the fourth quarter. Lafayette Investments Inc. now owns 21,147 shares of the footwear maker’s stock valued at $2,296,000 after buying an additional 1,763 shares during the period. HTLF Bank bought a new position in NIKE in the fourth quarter worth about $318,000. Finally, Knights of Columbus Asset Advisors LLC lifted its holdings in NIKE by 1.3% in the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 29,101 shares of the footwear maker’s stock worth $3,159,000 after buying an additional 372 shares during the period. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Stock Performance

Shares of NYSE NKE traded up $0.05 during midday trading on Monday, hitting $83.28. 9,609,527 shares of the company’s stock traded hands, compared to its average volume of 11,550,896. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.69 and a current ratio of 2.40. The stock has a market capitalization of $125.70 billion, a price-to-earnings ratio of 22.28, a price-to-earnings-growth ratio of 1.92 and a beta of 1.01. The firm has a fifty day moving average of $80.17 and a 200 day moving average of $90.77. NIKE, Inc. has a 1 year low of $70.75 and a 1 year high of $123.39.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, topping 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 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 earnings per share. The business’s quarterly revenue was down 1.6% on a year-over-year basis. On average, analysts forecast that NIKE, Inc. will post 3.12 earnings per share for the current year.

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.78%. The ex-dividend date is Tuesday, September 3rd. NIKE’s dividend payout ratio is currently 39.68%.

Wall Street Analysts Forecast Growth

NKE has been the subject of several research reports. BMO Capital Markets decreased their target price on NIKE from $118.00 to $100.00 and set an “outperform” rating for the company in a research report on Friday, June 28th. Raymond James reissued a “market perform” rating on shares of NIKE in a research report on Friday, June 28th. TD Cowen dropped their target price on shares of NIKE from $75.00 to $71.00 and set a “hold” rating on the stock in a report on Thursday, July 25th. UBS Group reiterated a “neutral” rating and issued a $78.00 price target on shares of NIKE in a research note on Friday, June 28th. Finally, HSBC dropped their price objective on shares of NIKE from $100.00 to $90.00 and set a “hold” rating on the stock in a research note on Friday, June 28th. Fifteen investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, NIKE currently has a consensus rating of “Moderate Buy” and an average price target of $96.59.

Insiders Place Their Bets

In other news, Chairman Mark G. Parker sold 110,000 shares of the business’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $72.97, for a total value of $8,026,700.00. Following the transaction, the chairman now directly owns 1,102,090 shares in the company, valued at $80,419,507.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Chairman Mark G. Parker sold 52,487 shares of the firm’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the completion of the transaction, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at $80,435,628. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Mark G. Parker sold 110,000 shares of the business’s stock in a transaction on Thursday, July 18th. The stock was 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 owns 1,102,090 shares in the company, valued at approximately $80,419,507.30. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by company insiders.

NIKE Company 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.