Tufton Capital Management Sells 1,898 Shares of NIKE, Inc. $NKE

Tufton Capital Management reduced its position in NIKE, Inc. (NYSE:NKE) by 2.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 80,417 shares of the footwear maker’s stock after selling 1,898 shares during the period. Tufton Capital Management’s holdings in NIKE were worth $5,712,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Banco Santander S.A. grew its stake in shares of NIKE by 28.3% in the second quarter. Banco Santander S.A. now owns 221,117 shares of the footwear maker’s stock worth $15,708,000 after acquiring an additional 48,764 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich grew its stake in shares of NIKE by 0.6% in the first quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,008,340 shares of the footwear maker’s stock worth $69,932,000 after acquiring an additional 5,601 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd acquired a new position in shares of NIKE in the first quarter worth $25,963,000. BROOKFIELD Corp ON grew its stake in shares of NIKE by 36.2% during the first quarter. BROOKFIELD Corp ON now owns 658,598 shares of the footwear maker’s stock worth $41,808,000 after purchasing an additional 175,000 shares in the last quarter. Finally, Cadence Bank boosted its stake in NIKE by 10.0% in the first quarter. Cadence Bank now owns 83,002 shares of the footwear maker’s stock valued at $5,269,000 after acquiring an additional 7,574 shares in the last quarter. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other NIKE news, EVP Treasure Heinle sold 4,300 shares of the business’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 of the company’s stock, valued at approximately $2,095,052.92. The trade was a 12.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Mark G. Parker sold 86,078 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chairman owned 744,988 shares of the company’s stock, valued at $56,566,938.84. This trade represents a 10.36% decrease in their position. The SEC filing for this sale provides additional information. 0.80% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on NKE. Weiss Ratings raised shares of NIKE from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, October 8th. Morgan Stanley set a $72.00 price target on shares of NIKE and gave the stock a “positive” rating in a report on Wednesday, October 1st. Citigroup upgraded shares of NIKE from a “neutral” rating to a “positive” rating in a research report on Friday, September 19th. Cowen upgraded shares of NIKE from a “hold” rating to a “buy” rating in a research report on Wednesday, September 10th. Finally, Wall Street Zen upgraded shares of NIKE from a “sell” rating to a “hold” rating in a research report on Saturday, September 6th. Three analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, NIKE has an average rating of “Moderate Buy” and an average price target of $82.21.

NIKE Price Performance

Shares of NYSE:NKE opened at $62.77 on Tuesday. The firm has a 50-day simple moving average of $70.97 and a 200 day simple moving average of $68.46. NIKE, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $82.44. The company has a market cap of $92.79 billion, a PE ratio of 32.19, a P/E/G ratio of 2.41 and a beta of 1.29. The company has a quick ratio of 1.45, a current ratio of 2.19 and a debt-to-equity ratio of 0.59.

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 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 business’s revenue for the quarter was up 1.0% compared to the same quarter last year. On average, sell-side analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The company also recently announced 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 was Tuesday, September 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.5%. NIKE’s dividend payout ratio (DPR) is presently 82.05%.

About NIKE

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.