NIKE, Inc. (NYSE:NKE) Shares Sold by Moisand Fitzgerald Tamayo LLC

Moisand Fitzgerald Tamayo LLC lessened its stake in NIKE, Inc. (NYSE:NKE) by 25.0% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 601 shares of the footwear maker’s stock after selling 200 shares during the quarter. Moisand Fitzgerald Tamayo LLC’s holdings in NIKE were worth $66,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in NKE. Moneta Group Investment Advisors LLC boosted its holdings in shares of NIKE by 139,649.9% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 16,813,307 shares of the footwear maker’s stock valued at $1,967,325,000 after purchasing an additional 16,801,276 shares during the last quarter. Norges Bank purchased a new position in shares of NIKE in the 4th quarter valued at $1,345,203,000. Morgan Stanley raised its stake in shares of NIKE by 26.4% in the 4th quarter. Morgan Stanley now owns 30,720,119 shares of the footwear maker’s stock valued at $3,594,561,000 after acquiring an additional 6,410,744 shares during the period. Marshall Wace LLP raised its stake in shares of NIKE by 364.3% in the 4th quarter. Marshall Wace LLP now owns 2,845,044 shares of the footwear maker’s stock valued at $332,899,000 after acquiring an additional 2,232,240 shares during the period. Finally, FMR LLC raised its stake in shares of NIKE by 11.8% in the 1st quarter. FMR LLC now owns 19,087,757 shares of the footwear maker’s stock valued at $2,340,922,000 after acquiring an additional 2,011,891 shares during the period. Institutional investors and hedge funds own 63.42% of the company’s stock.

NIKE Stock Performance

NIKE stock traded down $0.77 during midday trading on Tuesday, reaching $94.74. 2,342,829 shares of the stock traded hands, compared to its average volume of 6,905,015. The company has a current ratio of 2.72, a quick ratio of 1.81 and a debt-to-equity ratio of 0.64. The firm has a fifty day moving average price of $104.70 and a two-hundred day moving average price of $112.67. The firm has a market cap of $144.95 billion, a price-to-earnings ratio of 29.34, a PEG ratio of 1.70 and a beta of 1.12. NIKE, Inc. has a fifty-two week low of $82.22 and a fifty-two week high of $131.31.

NIKE (NYSE:NKE) last posted its earnings results on Thursday, June 29th. The footwear maker reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.02). The firm had revenue of $12.80 billion for the quarter, compared to analyst estimates of $12.58 billion. NIKE had a net margin of 9.90% and a return on equity of 34.01%. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.90 earnings per share. On average, equities research analysts forecast that NIKE, Inc. will post 3.71 earnings per share for the current year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Tuesday, September 5th will be paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date is Friday, September 1st. NIKE’s payout ratio is 42.11%.

Insider Buying and Selling at NIKE

In other news, EVP Monique S. Matheson sold 40,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $108.59, for a total value of $4,343,600.00. Following the completion of the sale, the executive vice president now directly owns 44,736 shares of the company’s stock, valued at approximately $4,857,882.24. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CFO Matthew Friend sold 5,545 shares of the company’s stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $107.00, for a total value of $593,315.00. Following the completion of the sale, the chief financial officer now directly owns 42,119 shares of the company’s stock, valued at approximately $4,506,733. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Monique S. Matheson sold 40,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $108.59, for a total transaction of $4,343,600.00. Following the completion of the sale, the executive vice president now directly owns 44,736 shares of the company’s stock, valued at $4,857,882.24. The disclosure for this sale can be found here. Insiders sold 157,251 shares of company stock valued at $17,063,257 in the last ninety days. Company insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on NKE. Citigroup cut their target price on shares of NIKE from $125.00 to $109.00 in a research note on Tuesday, June 13th. Stifel Nicolaus cut their target price on shares of NIKE from $143.00 to $135.00 and set a “buy” rating on the stock in a research note on Monday, August 28th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of NIKE from $133.00 to $126.00 in a research note on Friday, June 23rd. VNET Group reaffirmed a “maintains” rating on shares of NIKE in a research note on Friday, June 30th. Finally, OTR Global downgraded shares of NIKE to a “positive” rating in a research note on Tuesday, June 20th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, NIKE has a consensus rating of “Moderate Buy” and an average price target of $129.07.

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.