NIKE, Inc. (NYSE:NKE) Stock Holdings Cut by Ashton Thomas Private Wealth LLC

Ashton Thomas Private Wealth LLC lessened its position in NIKE, Inc. (NYSE:NKE) by 2.8% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 44,984 shares of the footwear maker’s stock after selling 1,307 shares during the period. Ashton Thomas Private Wealth LLC’s holdings in NIKE were worth $3,390,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Annapolis Financial Services LLC grew its position in NIKE by 440.0% in the first quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock worth $25,000 after buying an additional 220 shares during the last quarter. True Wealth Design LLC boosted its stake in shares of NIKE by 106.4% during the 4th quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock worth $32,000 after acquiring an additional 150 shares in the last quarter. Frank Rimerman Advisors LLC acquired a new position in shares of NIKE in the 4th quarter worth $33,000. Core Wealth Advisors Inc. raised its position in shares of NIKE by 408.5% during the fourth quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock worth $33,000 after purchasing an additional 241 shares during the period. Finally, Gold Investment Management Ltd. purchased a new stake in shares of NIKE during the fourth quarter valued at $36,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on NKE. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $83.00 price target (down previously from $116.00) on shares of NIKE in a research note on Friday, June 28th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of NIKE from $115.00 to $92.00 and set a “buy” rating on the stock in a research report on Wednesday, July 3rd. Raymond James restated a “market perform” rating on shares of NIKE in a report on Friday, June 28th. Stifel Nicolaus decreased their price objective on shares of NIKE from $88.00 to $79.00 and set a “hold” rating for the company in a research note on Monday, August 26th. Finally, Robert W. Baird cut their target price on shares of NIKE from $125.00 to $100.00 and set an “outperform” rating on the stock in a research note on Friday, June 28th. Fourteen investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, NIKE has a consensus rating of “Moderate Buy” and a consensus price target of $95.59.

Insider Activity

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the firm’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the completion of the transaction, the chairman now owns 1,102,090 shares in the company, valued at $80,419,507.30. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the company’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $72.97, for a total value of $8,026,700.00. Following the sale, the chairman now directly owns 1,102,090 shares in the company, valued at $80,419,507.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert Holmes Swan acquired 2,941 shares of the business’s stock in a transaction on Friday, June 28th. The shares were bought at an average cost of $77.02 per share, with a total value of $226,515.82. Following the completion of the acquisition, the director now owns 20,946 shares of the company’s stock, valued at approximately $1,613,260.92. The disclosure for this purchase can be found here. 0.50% of the stock is owned by company insiders.

NIKE Stock Performance

Shares of NYSE NKE opened at $79.50 on Tuesday. The business’s 50-day simple moving average is $76.99 and its 200-day simple moving average is $88.38. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.69 and a current ratio of 2.40. NIKE, Inc. has a 52 week low of $70.75 and a 52 week high of $123.39. The firm has a market cap of $119.20 billion, a price-to-earnings ratio of 21.31, a P/E/G ratio of 2.11 and a beta of 1.02.

NIKE (NYSE:NKE) last released its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. The company had revenue of $12.60 billion during the quarter, compared to analysts’ expectations of $12.86 billion. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The business’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.66 earnings per share. As a group, equities research analysts expect that NIKE, Inc. will post 3.1 earnings per share for the current fiscal year.

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be issued a dividend of $0.37 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.86%. NIKE’s dividend payout ratio (DPR) is presently 39.68%.

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.