NIKE, Inc. $NKE Shares Sold by Bristlecone Advisors LLC

Bristlecone Advisors LLC lessened its position in NIKE, Inc. (NYSE:NKE) by 23.1% during the second quarter, Holdings Channel reports. The fund owned 80,615 shares of the footwear maker’s stock after selling 24,175 shares during the quarter. Bristlecone Advisors LLC’s holdings in NIKE were worth $5,727,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of NKE. Stone House Investment Management LLC acquired a new stake in shares of NIKE in the 1st quarter worth about $25,000. Mascoma Wealth Management LLC acquired a new stake in shares of NIKE in the 2nd quarter worth about $26,000. Halbert Hargrove Global Advisors LLC increased its holdings in shares of NIKE by 952.6% in the 2nd quarter. Halbert Hargrove Global Advisors LLC now owns 400 shares of the footwear maker’s stock worth $28,000 after acquiring an additional 362 shares during the period. Saudi Central Bank acquired a new stake in shares of NIKE in the 1st quarter worth about $30,000. Finally, Matrix Trust Co grew its position in NIKE by 53.1% in the 2nd quarter. Matrix Trust Co now owns 441 shares of the footwear maker’s stock valued at $31,000 after buying an additional 153 shares in the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

Insider Activity

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

Analyst Upgrades and Downgrades

NKE has been the subject of a number of recent analyst reports. Barclays set a $70.00 target price on shares of NIKE and gave the company a “positive” rating in a research report on Wednesday, October 1st. BTIG Research initiated coverage on shares of NIKE in a research report on Tuesday, October 14th. They issued a “buy” rating and a $100.00 target price for the company. Sanford C. Bernstein reiterated a “buy” rating and issued a $90.00 target price on shares of NIKE in a research report on Monday, October 13th. Morgan Stanley set a $72.00 target price on shares of NIKE and gave the company a “positive” rating in a research report on Wednesday, October 1st. Finally, Cowen upgraded shares of NIKE from a “hold” rating to a “buy” rating in a research report on Wednesday, September 10th. Three analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $82.21.

NIKE Stock Performance

NYSE:NKE opened at $67.40 on Wednesday. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $82.44. The company has a current ratio of 2.19, a quick ratio of 1.45 and a debt-to-equity ratio of 0.59. The company has a 50-day moving average of $72.01 and a 200-day moving average of $68.10. The firm has a market cap of $99.63 billion, a price-to-earnings ratio of 34.57, a price-to-earnings-growth ratio of 2.53 and a beta of 1.29.

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

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.4%. The ex-dividend date was Tuesday, September 2nd. NIKE’s dividend payout ratio (DPR) is presently 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.