Phoenix Financial Ltd. Sells 980 Shares of NIKE, Inc. $NKE

Phoenix Financial Ltd. cut its position in shares of NIKE, Inc. (NYSE:NKE) by 1.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 79,021 shares of the footwear maker’s stock after selling 980 shares during the period. Phoenix Financial Ltd.’s holdings in NIKE were worth $5,616,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Mascoma Wealth Management LLC purchased a new stake in NIKE during the second quarter valued at approximately $26,000. Stone House Investment Management LLC purchased a new stake in NIKE during the first quarter valued at approximately $25,000. Halbert Hargrove Global Advisors LLC raised its position in NIKE by 952.6% during the second quarter. Halbert Hargrove Global Advisors LLC now owns 400 shares of the footwear maker’s stock valued at $28,000 after purchasing an additional 362 shares during the period. Matrix Trust Co raised its position in NIKE by 53.1% during the second quarter. Matrix Trust Co now owns 441 shares of the footwear maker’s stock valued at $31,000 after purchasing an additional 153 shares during the period. Finally, Saudi Central Bank purchased a new stake in NIKE during the first quarter valued at approximately $30,000. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at NIKE

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

Analysts Set New Price Targets

A number of brokerages have issued reports on NKE. Robert W. Baird upped their price objective on NIKE from $80.00 to $88.00 and gave the company an “outperform” rating in a research report on Friday, June 27th. KeyCorp set a $90.00 price objective on NIKE and gave the company an “overweight” rating in a research report on Thursday, October 2nd. Hsbc Global Res upgraded NIKE from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 27th. The Goldman Sachs Group set a $85.00 price objective on NIKE and gave the company a “buy” rating in a research report on Thursday, September 25th. Finally, UBS Group set a $71.00 price target on NIKE and gave the stock a “neutral” rating in a report on Friday, September 19th. Three investment 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 stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $82.21.

NIKE Trading Up 0.5%

Shares of NYSE NKE opened at $67.71 on Tuesday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.45 and a current ratio of 2.19. The business’s 50 day moving average price is $72.97 and its 200-day moving average price is $67.56. NIKE, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $83.09. The company has a market cap of $100.09 billion, a price-to-earnings ratio of 34.72, a PEG ratio of 2.48 and a beta of 1.29.

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

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd were paid a $0.40 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $1.60 annualized dividend and a yield of 2.4%. NIKE’s dividend payout ratio is 82.05%.

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.