Middleton & Co Inc MA Lowers Position in Nike Inc (NYSE:NKE)

Middleton & Co Inc MA lessened its stake in Nike Inc (NYSE:NKE) by 2.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,437 shares of the footwear maker’s stock after selling 575 shares during the period. Middleton & Co Inc MA’s holdings in Nike were worth $2,671,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in NKE. Garrett Wealth Advisory Group LLC acquired a new position in shares of Nike during the 3rd quarter worth approximately $26,000. Hexavest Inc. acquired a new position in shares of Nike during the 2nd quarter worth approximately $30,000. Litman Gregory Asset Management LLC acquired a new position in shares of Nike during the 2nd quarter worth approximately $31,000. LFA Lugano Financial Advisors SA raised its stake in shares of Nike by 43.1% during the 2nd quarter. LFA Lugano Financial Advisors SA now owns 465 shares of the footwear maker’s stock worth $39,000 after buying an additional 140 shares during the period. Finally, Lipe & Dalton acquired a new position in shares of Nike during the 2nd quarter worth approximately $50,000. Institutional investors and hedge funds own 65.35% of the company’s stock.

In other Nike news, CEO Mark G. Parker sold 165,000 shares of the firm’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $93.42, for a total value of $15,414,300.00. Following the completion of the sale, the chief executive officer now directly owns 2,054,511 shares of the company’s stock, valued at approximately $191,932,417.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Elliott Hill sold 3,228 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $87.07, for a total value of $281,061.96. The disclosure for this sale can be found here. Insiders sold a total of 505,579 shares of company stock valued at $45,961,980 over the last ninety days. Corporate insiders own 3.80% of the company’s stock.

NKE has been the subject of several research analyst reports. DZ Bank reaffirmed a “sell” rating on shares of Nike in a research note on Wednesday, September 25th. Guggenheim upped their target price on Nike from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. Jefferies Financial Group upped their target price on Nike from $80.00 to $97.00 and gave the stock a “hold” rating in a research note on Wednesday, September 25th. Bank of America raised Nike from an “underperform” rating to a “neutral” rating and set a $98.00 target price for the company in a research note on Monday, October 14th. Finally, Citigroup upped their target price on Nike from $100.00 to $103.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty-one have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $96.98.

NYSE NKE traded down $0.11 during mid-day trading on Monday, hitting $95.99. The stock had a trading volume of 229,679 shares, compared to its average volume of 7,303,586. The firm’s 50 day moving average is $89.89 and its 200 day moving average is $85.78. Nike Inc has a twelve month low of $66.53 and a twelve month high of $96.46. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.01 and a quick ratio of 1.29. The stock has a market capitalization of $149.17 billion, a price-to-earnings ratio of 38.54, a PEG ratio of 2.54 and a beta of 0.85.

Nike (NYSE:NKE) last issued its earnings results on Tuesday, September 24th. The footwear maker reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.15. Nike had a return on equity of 47.92% and a net margin of 10.81%. The business had revenue of $10.66 billion during the quarter, compared to the consensus estimate of $10.43 billion. During the same period last year, the company earned $0.67 EPS. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. As a group, equities research analysts expect that Nike Inc will post 2.97 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date of this dividend was Friday, August 30th. Nike’s dividend payout ratio (DPR) is presently 35.34%.

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: Momentum Indicator: Relative Strength Index

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Institutional Ownership by Quarter for Nike (NYSE:NKE)

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