Abound Wealth Management Reduces Holdings in NIKE, Inc. (NYSE:NKE)

Abound Wealth Management lowered its position in NIKE, Inc. (NYSE:NKE) by 30.5% during the 2nd quarter, HoldingsChannel reports. The fund owned 569 shares of the footwear maker’s stock after selling 250 shares during the period. Abound Wealth Management’s holdings in NIKE were worth $43,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in NKE. Annapolis Financial Services LLC boosted its holdings in NIKE by 440.0% during the 1st quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock valued at $25,000 after acquiring an additional 220 shares during the period. True Wealth Design LLC boosted its stake in shares of NIKE by 106.4% during the fourth quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock valued at $32,000 after purchasing an additional 150 shares during the period. Frank Rimerman Advisors LLC bought a new position in shares of NIKE in the fourth quarter worth about $33,000. Core Wealth Advisors Inc. lifted its holdings in NIKE by 408.5% during the 4th quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock valued at $33,000 after buying an additional 241 shares in the last quarter. Finally, Gold Investment Management Ltd. bought a new position in NIKE in the 4th quarter worth about $36,000. Institutional investors own 64.25% of the company’s stock.

Insider Activity

In related news, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total value 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total value of $4,093,986.00. Following the sale, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at $80,435,628. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Mark G. Parker sold 110,000 shares of the company’s stock in a transaction that occurred on 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 of the company’s stock, valued at $80,419,507.30. The disclosure for this sale can be found here. Insiders own 0.50% of the company’s stock.

NIKE Trading Up 0.8 %

NIKE stock opened at $79.01 on Monday. The stock has a 50-day moving average price of $77.23 and a 200 day moving average price of $87.64. The company has a market capitalization of $118.46 billion, a price-to-earnings ratio of 21.18, a price-to-earnings-growth ratio of 2.08 and a beta of 1.02. NIKE, Inc. has a 52 week low of $70.75 and a 52 week high of $123.39. The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.55.

NIKE (NYSE:NKE) last issued its 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 firm had revenue of $12.60 billion during the quarter, compared to analysts’ expectations of $12.86 billion. During the same quarter last year, the company posted $0.66 earnings per share. The firm’s revenue was down 1.6% compared to the same quarter last year. Sell-side analysts anticipate that NIKE, Inc. will post 3.06 EPS for the current year.

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 1.87%. The ex-dividend date is Tuesday, September 3rd. NIKE’s payout ratio is currently 39.68%.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. The Goldman Sachs Group decreased their price target on shares of NIKE from $118.00 to $105.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Morgan Stanley reissued an “equal weight” rating and set a $79.00 price target (down previously from $114.00) on shares of NIKE in a research report on Friday, June 28th. Jefferies Financial Group decreased their price objective on NIKE from $90.00 to $80.00 in a report on Friday, July 12th. Barclays lowered shares of NIKE from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $109.00 to $80.00 in a research note on Friday, June 28th. Finally, Williams Trading upgraded shares of NIKE from a “sell” rating to a “buy” rating and boosted their price target for the company from $67.00 to $93.00 in a report on Friday, August 16th. Fifteen research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, NIKE currently has an average rating of “Moderate Buy” and a consensus price target of $95.59.

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.