Schmidt P J Investment Management Inc. Reduces Stake in NIKE, Inc. $NKE

Schmidt P J Investment Management Inc. decreased its stake in shares of NIKE, Inc. (NYSE:NKE) by 31.8% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 7,303 shares of the footwear maker’s stock after selling 3,409 shares during the period. Schmidt P J Investment Management Inc.’s holdings in NIKE were worth $464,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Peregrine Asset Advisers Inc. increased its stake in NIKE by 1.2% in the 1st quarter. Peregrine Asset Advisers Inc. now owns 15,119 shares of the footwear maker’s stock worth $934,000 after acquiring an additional 181 shares during the last quarter. Aaron Wealth Advisors LLC increased its stake in NIKE by 4.3% in the 1st quarter. Aaron Wealth Advisors LLC now owns 4,666 shares of the footwear maker’s stock worth $296,000 after acquiring an additional 192 shares during the last quarter. Crew Capital Management Ltd. increased its stake in NIKE by 1.4% in the 1st quarter. Crew Capital Management Ltd. now owns 13,752 shares of the footwear maker’s stock worth $873,000 after acquiring an additional 192 shares during the last quarter. Sculati Wealth Management LLC increased its stake in NIKE by 1.4% in the 4th quarter. Sculati Wealth Management LLC now owns 14,387 shares of the footwear maker’s stock worth $1,089,000 after acquiring an additional 195 shares during the last quarter. Finally, Centaurus Financial Inc. increased its stake in NIKE by 9.6% in the 4th quarter. Centaurus Financial Inc. now owns 2,258 shares of the footwear maker’s stock worth $171,000 after acquiring an additional 198 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors.

Insider Buying and Selling at NIKE

In other news, Chairman Mark G. Parker sold 110,000 shares of the company’s stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $72.29, for a total value of $7,951,900.00. Following the completion of the transaction, the chairman owned 842,361 shares of the company’s stock, valued at $60,894,276.69. This represents a 11.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.80% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Wall Street Zen upgraded NIKE from a “sell” rating to a “hold” rating in a report on Saturday. Citigroup increased their price objective on NIKE from $57.00 to $68.00 and gave the stock a “neutral” rating in a report on Friday, June 27th. Bank of America increased their price objective on NIKE from $80.00 to $84.00 and gave the stock a “buy” rating in a report on Friday, June 27th. Morgan Stanley increased their price objective on NIKE from $61.00 to $64.00 and gave the stock an “equal weight” rating in a report on Friday, June 27th. Finally, Zacks Research upgraded NIKE from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 26th. Three research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $78.67.

NIKE Stock Down 0.7%

NIKE stock opened at $73.60 on Wednesday. The firm has a market cap of $108.70 billion, a price-to-earnings ratio of 34.07, a PEG ratio of 2.69 and a beta of 1.24. The stock has a fifty day simple moving average of $75.54 and a two-hundred day simple moving average of $67.87. NIKE, Inc. has a 12 month low of $52.28 and a 12 month high of $90.62. The company has a current ratio of 2.21, a quick ratio of 1.50 and a debt-to-equity ratio of 0.60.

NIKE (NYSE:NKE) last released its quarterly earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.02. The business had revenue of $11.10 billion during the quarter, compared to analyst estimates of $10.69 billion. NIKE had a return on equity of 23.33% and a net margin of 6.95%.NIKE’s revenue for the quarter was down 11.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.99 earnings per share. Equities analysts predict that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd will be paid a $0.40 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.2%. NIKE’s dividend payout ratio is 74.07%.

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.