Northwest Capital Management Inc Sells 1,519 Shares of NIKE, Inc. $NKE

Northwest Capital Management Inc reduced its position in NIKE, Inc. (NYSE:NKE) by 56.2% in the second quarter, Holdings Channel.com reports. The fund owned 1,185 shares of the footwear maker’s stock after selling 1,519 shares during the quarter. Northwest Capital Management Inc’s holdings in NIKE were worth $84,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Stone House Investment Management LLC purchased a new position in NIKE in the 1st quarter worth approximately $25,000. Mascoma Wealth Management LLC purchased a new stake in NIKE during the second quarter valued at about $26,000. 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 in the last quarter. Saudi Central Bank purchased a new stake in NIKE during the first quarter valued at about $30,000. Finally, 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 in the last quarter. 64.25% of the stock is currently owned by institutional investors.

NIKE Trading Up 3.3%

NYSE:NKE opened at $67.39 on Tuesday. The company has a fifty day moving average of $73.66 and a 200 day moving average of $67.33. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $84.76. 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 firm has a market capitalization of $99.61 billion, a P/E ratio of 34.56, a P/E/G ratio of 2.38 and a beta of 1.29.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Tuesday, September 30th. The footwear maker reported $0.49 EPS for the quarter, beating analysts’ consensus estimates 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 period in the prior year, the business posted $0.70 EPS. The firm’s revenue was up 1.0% compared to the same quarter last year. On average, research analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

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

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Hsbc Global Res upgraded NIKE from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 27th. Cowen upgraded shares of NIKE from a “hold” rating to a “buy” rating in a report on Wednesday, September 10th. Telsey Advisory Group restated a “market perform” rating and issued a $75.00 price objective on shares of NIKE in a report on Wednesday, October 1st. Piper Sandler set a $84.00 price objective on shares of NIKE and gave the stock an “overweight” rating in a report on Wednesday, October 1st. Finally, Evercore ISI lowered their price objective on shares of NIKE from $97.00 to $75.00 and set an “outperform” rating for the company in a report on Tuesday, June 24th. Three analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $81.57.

Insiders Place Their Bets

In other NIKE news, Chairman Mark G. Parker sold 86,078 shares of the business’s 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 approximately $56,566,938.84. The trade was a 10.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Treasure Heinle sold 4,300 shares of the business’s stock in a transaction on Monday, October 6th. The shares were 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. The trade was a 12.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 200,378 shares of company stock valued at $14,794,264 over the last quarter. 0.80% of the stock is currently owned by company insiders.

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.