NIKE, Inc. (NYSE:NKE) Shares Sold by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. trimmed its stake in shares of NIKE, Inc. (NYSE:NKE) by 1.8% during the second quarter, Holdings Channel reports. The institutional investor owned 2,248,811 shares of the footwear maker’s stock after selling 42,334 shares during the period. NIKE makes up about 1.3% of Brown Brothers Harriman & Co.’s holdings, making the stock its 23rd largest position. Brown Brothers Harriman & Co.’s holdings in NIKE were worth $169,493,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the stock. Annapolis Financial Services LLC boosted its stake in NIKE by 440.0% during the first quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock valued at $25,000 after buying an additional 220 shares in the last quarter. True Wealth Design LLC lifted its holdings in NIKE by 106.4% in the 4th quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock valued at $32,000 after acquiring an additional 150 shares during the last quarter. Frank Rimerman Advisors LLC bought a new position in shares of NIKE during the 4th quarter valued at about $33,000. Core Wealth Advisors Inc. grew its stake in shares of NIKE by 408.5% in the 4th 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 last quarter. Finally, Gold Investment Management Ltd. bought a new stake in shares of NIKE in the 4th quarter worth approximately $36,000. 64.25% of the stock is owned by institutional investors and hedge funds.

NIKE Price Performance

NYSE NKE opened at $79.01 on Monday. The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $118.46 billion, a PE ratio of 21.18, a price-to-earnings-growth ratio of 2.08 and a beta of 1.02. NIKE, Inc. has a 12-month low of $70.75 and a 12-month high of $123.39. The company has a 50 day moving average price of $77.23 and a two-hundred day moving average price of $87.64.

NIKE (NYSE:NKE) last posted its earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.16. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The firm had revenue of $12.60 billion during the quarter, compared to analyst estimates of $12.86 billion. During the same period in the previous year, the company earned $0.66 EPS. The company’s revenue for the quarter was down 1.6% on a year-over-year basis. As a group, equities analysts predict that NIKE, Inc. will post 3.06 earnings per share for the current fiscal year.

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd will be issued a $0.37 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.48 annualized dividend and a yield of 1.87%. NIKE’s dividend payout ratio (DPR) is presently 39.68%.

Analyst Upgrades and Downgrades

NKE has been the topic of several recent research reports. JPMorgan Chase & Co. restated a “neutral” rating and issued a $83.00 price target (down previously from $116.00) on shares of NIKE in a research report on Friday, June 28th. Morgan Stanley reaffirmed an “equal weight” rating and set a $79.00 target price (down from $114.00) on shares of NIKE in a research report on Friday, June 28th. Barclays lowered NIKE from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $109.00 to $80.00 in a research report on Friday, June 28th. Telsey Advisory Group cut their price objective on NIKE from $115.00 to $100.00 and set an “outperform” rating on the stock in a report on Friday, June 28th. Finally, Royal Bank of Canada decreased their target price on shares of NIKE from $100.00 to $75.00 and set a “sector perform” rating for the company in a report on Tuesday, July 2nd. Fifteen research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $95.59.

Insiders Place Their Bets

In other news, Chairman Mark G. Parker sold 52,487 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total value of $4,093,986.00. Following the sale, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at $80,435,628. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other NIKE news, Director Robert Holmes Swan purchased 2,941 shares of the business’s stock in a transaction dated Friday, June 28th. The stock was bought at an average cost of $77.02 per share, for a total transaction of $226,515.82. Following the completion of the acquisition, the director now directly owns 20,946 shares in the company, valued at $1,613,260.92. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Mark G. Parker sold 52,487 shares of the stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the completion of the sale, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at $80,435,628. The disclosure for this sale can be found here. Company insiders own 0.50% of the company’s stock.

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.