Qube Research & Technologies Ltd Sells 32,401 Shares of Nike Inc (NYSE:NKE)

Qube Research & Technologies Ltd decreased its stake in shares of Nike Inc (NYSE:NKE) by 53.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,669 shares of the footwear maker’s stock after selling 32,401 shares during the period. Qube Research & Technologies Ltd’s holdings in Nike were worth $2,323,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Trustcore Financial Services LLC boosted its holdings in Nike by 2.9% during the second quarter. Trustcore Financial Services LLC now owns 4,261 shares of the footwear maker’s stock worth $358,000 after purchasing an additional 120 shares during the last quarter. Merriman Wealth Management LLC boosted its holdings in Nike by 1.0% during the second quarter. Merriman Wealth Management LLC now owns 12,337 shares of the footwear maker’s stock worth $1,054,000 after purchasing an additional 126 shares during the last quarter. Midwest Professional Planners LTD. boosted its holdings in Nike by 1.0% during the first quarter. Midwest Professional Planners LTD. now owns 12,794 shares of the footwear maker’s stock worth $1,077,000 after purchasing an additional 127 shares during the last quarter. Arcadia Investment Management Corp MI boosted its holdings in Nike by 45.4% during the first quarter. Arcadia Investment Management Corp MI now owns 410 shares of the footwear maker’s stock worth $35,000 after purchasing an additional 128 shares during the last quarter. Finally, First Personal Financial Services boosted its holdings in Nike by 14.9% during the second quarter. First Personal Financial Services now owns 992 shares of the footwear maker’s stock worth $83,000 after purchasing an additional 129 shares during the last quarter. 66.15% of the stock is owned by institutional investors.

NKE stock traded up $0.77 during trading hours on Friday, reaching $80.28. The stock had a trading volume of 5,522,800 shares, compared to its average volume of 6,195,173. The stock has a market capitalization of $124.58 billion, a PE ratio of 32.24, a price-to-earnings-growth ratio of 2.11 and a beta of 0.78. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.10 and a quick ratio of 1.39. The stock has a 50-day simple moving average of $85.23 and a 200 day simple moving average of $84.66. Nike Inc has a fifty-two week low of $66.53 and a fifty-two week high of $90.00.



Nike (NYSE:NKE) last announced its quarterly earnings results on Thursday, June 27th. The footwear maker reported $0.62 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.04). The firm had revenue of $10.18 billion during the quarter, compared to analyst estimates of $10.15 billion. Nike had a net margin of 10.30% and a return on equity of 45.12%. The business’s revenue was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.69 EPS. On average, sell-side analysts forecast that Nike Inc will post 2.9 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date is Friday, August 30th. Nike’s dividend payout ratio is presently 35.34%.

Several research analysts recently commented on NKE shares. Deutsche Bank set a $100.00 target price on shares of Nike and gave the stock a “buy” rating in a report on Wednesday, July 10th. Stifel Nicolaus set a $96.00 target price on shares of Nike and gave the stock a “buy” rating in a report on Wednesday, August 7th. Canaccord Genuity restated a “buy” rating and set a $96.00 target price on shares of Nike in a report on Wednesday, June 19th. Credit Suisse Group restated a “buy” rating and set a $97.00 target price on shares of Nike in a report on Friday, June 28th. Finally, Macquarie set a $89.00 target price on shares of Nike and gave the stock a “buy” rating in a report on Friday, June 28th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and twenty-two have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $90.02.

In other news, EVP John F. Slusher sold 110,000 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $85.26, for a total transaction of $9,378,600.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John C. Lechleiter sold 5,406 shares of the firm’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $87.13, for a total transaction of $471,024.78. Following the sale, the director now owns 68,457 shares of the company’s stock, valued at approximately $5,964,658.41. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 194,637 shares of company stock valued at $16,767,237. 3.80% of the stock is currently owned by corporate insiders.

Nike Profile

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories: running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, lacrosse, skateboarding, tennis, volleyball, wrestling, walking, and outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.

Further Reading: Outstanding Shares

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Institutional Ownership by Quarter for Nike (NYSE:NKE)

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