Kanawha Capital Management LLC Sells 582 Shares of NIKE, Inc. $NKE

Kanawha Capital Management LLC trimmed its position in shares of NIKE, Inc. (NYSE:NKE) by 0.3% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 183,976 shares of the footwear maker’s stock after selling 582 shares during the quarter. Kanawha Capital Management LLC’s holdings in NIKE were worth $13,070,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in NKE. Stone House Investment Management LLC bought a new stake in NIKE during the first quarter worth about $25,000. Mascoma Wealth Management LLC bought a new stake in NIKE during the second quarter worth about $26,000. Halbert Hargrove Global Advisors LLC grew its stake in NIKE by 952.6% during the second quarter. Halbert Hargrove Global Advisors LLC now owns 400 shares of the footwear maker’s stock worth $28,000 after buying an additional 362 shares during the last quarter. Saudi Central Bank bought a new stake in NIKE during the first quarter worth about $30,000. Finally, Matrix Trust Co grew its stake in NIKE by 53.1% during the second quarter. Matrix Trust Co now owns 441 shares of the footwear maker’s stock worth $31,000 after buying an additional 153 shares during the last quarter. 64.25% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. HSBC raised shares of NIKE from a “hold” rating to a “buy” rating and set a $80.00 price target on the stock in a research note on Friday, June 27th. Needham & Company LLC reissued a “buy” rating and set a $78.00 price target on shares of NIKE in a research note on Wednesday, October 1st. Wall Street Zen raised shares of NIKE from a “sell” rating to a “hold” rating in a research note on Saturday, September 6th. Telsey Advisory Group reissued a “market perform” rating and set a $75.00 price target on shares of NIKE in a research note on Wednesday, October 1st. Finally, KeyCorp set a $90.00 price target on shares of NIKE and gave the company an “overweight” rating in a research note on Thursday, October 2nd. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $82.21.

Insiders Place Their Bets

In other news, Chairman Mark G. Parker sold 86,078 shares of NIKE stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $75.93, for a total transaction of $6,535,902.54. Following the transaction, the chairman directly owned 744,988 shares of the company’s stock, valued at $56,566,938.84. This trade represents a 10.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Treasure Heinle sold 4,300 shares of NIKE stock in a transaction on Monday, October 6th. The stock was sold at an average price of $71.27, for a total transaction of $306,461.00. Following the transaction, the executive vice president directly owned 29,396 shares in the company, valued at approximately $2,095,052.92. This represents a 12.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.80% of the company’s stock.

NIKE Stock Performance

NKE stock opened at $67.46 on Friday. The business’s fifty day moving average is $73.10 and its 200-day moving average is $67.38. The company has a quick ratio of 1.45, a current ratio of 2.19 and a debt-to-equity ratio of 0.59. The company has a market cap of $99.72 billion, a P/E ratio of 34.59, a price-to-earnings-growth ratio of 2.46 and a beta of 1.29. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $83.95.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.22. The company had revenue of $11.72 billion for the quarter, compared to the consensus estimate of $10.96 billion. NIKE had a return on equity of 21.16% and a net margin of 6.23%.The firm’s quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.70 EPS. Equities research analysts forecast that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend was Tuesday, September 2nd. NIKE’s dividend payout ratio (DPR) is currently 82.05%.

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.