Heritage Investors Management Corp Sells 42,417 Shares of NIKE, Inc. $NKE

Heritage Investors Management Corp trimmed its position in NIKE, Inc. (NYSE:NKE) by 12.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 290,918 shares of the footwear maker’s stock after selling 42,417 shares during the period. Heritage Investors Management Corp’s holdings in NIKE were worth $11,942,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in NKE. Scarborough Advisors LLC purchased a new position in NIKE during the first quarter valued at $25,000. Cornerstone Financial Management LLC bought a new position in shares of NIKE in the 4th quarter worth about $26,000. Sankala Group LLC bought a new position in shares of NIKE in the 4th quarter worth about $26,000. Meeder Asset Management Inc. lifted its position in NIKE by 108.4% during the 1st quarter. Meeder Asset Management Inc. now owns 548 shares of the footwear maker’s stock valued at $29,000 after acquiring an additional 285 shares during the period. Finally, J.Safra Asset Management Corp purchased a new position in NIKE during the 4th quarter valued at about $29,000. Institutional investors own 64.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on NKE. Stifel Nicolaus set a $45.00 price objective on shares of NIKE and gave the stock a “hold” rating in a research note on Wednesday, July 1st. Telsey Advisory Group set a $47.00 target price on shares of NIKE and gave the company a “market perform” rating in a report on Wednesday, July 1st. Oppenheimer dropped their price target on NIKE from $120.00 to $60.00 and set an “outperform” rating on the stock in a research report on Friday, June 26th. Jefferies Financial Group cut their price target on NIKE from $90.00 to $75.00 and set a “buy” rating on the stock in a research note on Wednesday, July 1st. Finally, BNP Paribas Exane reaffirmed an “underperform” rating on shares of NIKE in a research report on Wednesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eighteen have given a Hold rating and five have given a Sell rating to the company. According to MarketBeat, NIKE presently has an average rating of “Hold” and a consensus price target of $53.53.

NIKE Price Performance

Shares of NYSE:NKE opened at $40.73 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.36 and a current ratio of 1.96. The firm has a market cap of $60.42 billion, a price-to-earnings ratio of 19.49, a price-to-earnings-growth ratio of 1.83 and a beta of 1.11. The business has a 50-day simple moving average of $42.90 and a two-hundred day simple moving average of $48.73. NIKE, Inc. has a fifty-two week low of $40.00 and a fifty-two week high of $80.17.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Tuesday, June 30th. The footwear maker reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.09. NIKE had a net margin of 6.70% and a return on equity of 16.54%. The firm had revenue of $10.97 billion for the quarter, compared to the consensus estimate of $10.85 billion. During the same quarter last year, the firm posted $0.14 EPS. The business’s quarterly revenue was down 1.1% compared to the same quarter last year. On average, analysts expect that NIKE, Inc. will post 1.74 earnings per share for the current year.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 1st will be given a dividend of $0.41 per share. The ex-dividend date is Tuesday, September 1st. This represents a $1.64 dividend on an annualized basis and a yield of 4.0%. NIKE’s dividend payout ratio is 78.47%.

Insider Activity at NIKE

In other NIKE news, CFO Matthew Friend sold 2,463 shares of the business’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $41.60, for a total transaction of $102,460.80. Following the completion of the sale, the chief financial officer directly owned 82,165 shares in the company, valued at approximately $3,418,064. The trade was a 2.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Venkatesh Alagirisamy sold 890 shares of the business’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $41.60, for a total transaction of $37,024.00. Following the sale, the chief operating officer owned 74,820 shares of the company’s stock, valued at approximately $3,112,512. This represents a 1.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 26,142 shares of company stock worth $1,169,380 in the last three months. 1.10% of the stock is currently owned by company insiders.

NIKE Profile

Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).