Vision Capital Management Inc. Decreases Position in NIKE, Inc. $NKE

Vision Capital Management Inc. reduced its stake in shares of NIKE, Inc. (NYSE:NKE) by 58.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 26,243 shares of the footwear maker’s stock after selling 36,559 shares during the quarter. Vision Capital Management Inc.’s holdings in NIKE were worth $1,830,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Mascoma Wealth Management LLC purchased a new position in shares of NIKE in the second quarter valued at about $26,000. Halbert Hargrove Global Advisors LLC boosted its holdings in shares of NIKE by 952.6% during the second quarter. Halbert Hargrove Global Advisors LLC now owns 400 shares of the footwear maker’s stock worth $28,000 after purchasing an additional 362 shares during the period. Twin Peaks Wealth Advisors LLC bought a new stake in shares of NIKE in the second quarter worth about $31,000. Matrix Trust Co increased its holdings in NIKE by 53.1% during the 2nd quarter. Matrix Trust Co now owns 441 shares of the footwear maker’s stock valued at $31,000 after purchasing an additional 153 shares during the period. Finally, Opal Wealth Advisors LLC bought a new position in NIKE during the 2nd quarter valued at approximately $35,000. Institutional investors own 64.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Weiss Ratings lowered NIKE from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, December 29th. Cowen raised NIKE from a “hold” rating to a “buy” rating in a research note on Wednesday, September 10th. Royal Bank Of Canada reissued an “outperform” rating on shares of NIKE in a research report on Tuesday. BTIG Research restated a “buy” rating and issued a $100.00 price objective on shares of NIKE in a report on Friday, December 12th. Finally, Bank of America cut their target price on shares of NIKE from $84.00 to $73.00 and set a “buy” rating on the stock in a research note on Friday, December 19th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $75.45.

NIKE Price Performance

Shares of NKE opened at $63.20 on Thursday. NIKE, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $82.44. The firm’s 50-day simple moving average is $63.42 and its two-hundred day simple moving average is $69.45. The stock has a market cap of $93.43 billion, a PE ratio of 37.18, a price-to-earnings-growth ratio of 2.81 and a beta of 1.28. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.40 and a current ratio of 2.06.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Thursday, December 18th. The footwear maker reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.16. NIKE had a return on equity of 18.43% and a net margin of 5.43%.The firm had revenue of $12.43 billion for the quarter, compared to analysts’ expectations of $12.19 billion. During the same period in the previous year, the firm posted $0.78 EPS. The business’s revenue for the quarter was up .6% compared to the same quarter last year. Analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 2nd. Investors of record on Monday, December 1st were paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date was Monday, December 1st. This is a positive change from NIKE’s previous quarterly dividend of $0.40. NIKE’s dividend payout ratio (DPR) is presently 96.47%.

Insider Activity at NIKE

In other NIKE news, Director Timothy D. Cook acquired 50,000 shares of the stock in a transaction that occurred on Monday, December 22nd. The shares were acquired at an average cost of $58.97 per share, with a total value of $2,948,500.00. Following the transaction, the director owned 105,480 shares of the company’s stock, valued at $6,220,155.60. The trade was a 90.12% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Elliott Hill purchased 16,388 shares of the stock in a transaction dated Monday, December 29th. The shares were acquired at an average cost of $61.10 per share, for a total transaction of $1,001,306.80. Following the completion of the acquisition, the chief executive officer owned 241,587 shares of the company’s stock, valued at approximately $14,760,965.70. This represents a 7.28% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders bought a total of 91,229 shares of company stock worth $5,452,640 in the last ninety days. 0.80% of the stock is currently owned by company insiders.

NIKE Company 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).