NIKE, Inc. (NYSE:NKE) Shares Sold by NORTHSTAR ASSET MANAGEMENT Co LLC

NORTHSTAR ASSET MANAGEMENT Co LLC trimmed its holdings in shares of NIKE, Inc. (NYSE:NKE) by 16.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,364 shares of the footwear maker’s stock after selling 861 shares during the period. NORTHSTAR ASSET MANAGEMENT Co LLC’s holdings in NIKE were worth $329,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in NKE. Norges Bank bought a new stake in NIKE during the fourth quarter valued at $1,315,097,000. Price T Rowe Associates Inc. MD lifted 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. Capital International Investors raised its holdings in NIKE by 34.9% during the 4th quarter. Capital International Investors now owns 27,609,613 shares of the footwear maker’s stock worth $2,997,628,000 after buying an additional 7,143,775 shares during the period. Longview Partners Guernsey LTD acquired a new stake in NIKE during the 1st quarter worth about $533,533,000. Finally, Capital World Investors raised its holdings in NIKE by 612.2% during the 1st quarter. Capital World Investors now owns 5,185,432 shares of the footwear maker’s stock worth $487,327,000 after buying an additional 4,457,376 shares during the period. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Trading Up 0.9 %

Shares of NIKE stock traded up $0.73 on Friday, hitting $83.23. 13,794,181 shares of the company traded hands, compared to its average volume of 11,563,057. The stock’s 50 day moving average price is $80.17 and its 200-day moving average price is $90.84. 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, Inc. has a 52 week low of $70.75 and a 52 week high of $123.39. The company has a market cap of $125.62 billion, a PE ratio of 22.31, a PEG ratio of 1.92 and a beta of 1.01.

NIKE (NYSE:NKE) last released its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (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 business had revenue of $12.60 billion for the quarter, compared to analyst estimates of $12.86 billion. During the same period in the previous year, the company earned $0.66 earnings per share. The business’s revenue for the quarter was down 1.6% on a year-over-year basis. Equities research analysts predict that NIKE, Inc. will post 3.12 EPS for the current year.

NIKE Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd will be given a dividend of $0.37 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $1.48 annualized dividend and a dividend yield of 1.78%. NIKE’s dividend payout ratio (DPR) is presently 39.68%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Barclays downgraded NIKE from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $109.00 to $80.00 in a report on Friday, June 28th. Evercore ISI reduced their price objective on NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a research report on Friday, June 28th. UBS Group reissued a “neutral” rating and issued a $78.00 price objective on shares of NIKE in a research report on Friday, June 28th. Royal Bank of Canada cut their target price on NIKE from $100.00 to $75.00 and set a “sector perform” rating for the company in a research note on Tuesday, July 2nd. Finally, BMO Capital Markets cut their target price on NIKE from $118.00 to $100.00 and set an “outperform” rating for the company in a research note on Friday, June 28th. Fifteen research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, NIKE currently has a consensus rating of “Moderate Buy” and an average price target of $96.59.

Insider Buying and Selling

In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total value of $4,093,986.00. Following the completion of the sale, the chairman now owns 1,031,226 shares in the company, valued at approximately $80,435,628. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Chairman Mark G. Parker sold 52,487 shares of the stock in a transaction that occurred 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 owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert Holmes Swan bought 2,941 shares of NIKE stock in a transaction on Friday, June 28th. The shares were acquired at an average price of $77.02 per share, for a total transaction of $226,515.82. Following the completion of the acquisition, the director now owns 20,946 shares in the company, valued at $1,613,260.92. The disclosure for this purchase can be found here. Insiders own 0.50% of the company’s stock.

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.