Jacobs & Co. CA Sells 493 Shares of NIKE, Inc. $NKE

Jacobs & Co. CA trimmed its holdings in NIKE, Inc. (NYSE:NKE) by 0.3% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 159,138 shares of the footwear maker’s stock after selling 493 shares during the period. Jacobs & Co. CA’s holdings in NIKE were worth $11,305,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Cacti Asset Management LLC boosted its holdings in shares of NIKE by 2.9% during the 2nd quarter. Cacti Asset Management LLC now owns 306,839 shares of the footwear maker’s stock worth $22,105,000 after buying an additional 8,530 shares during the period. Confluence Investment Management LLC boosted its holdings in shares of NIKE by 0.5% during the 2nd quarter. Confluence Investment Management LLC now owns 248,154 shares of the footwear maker’s stock worth $17,629,000 after buying an additional 1,224 shares during the period. AG2R LA Mondiale Gestion D Actifs bought a new stake in shares of NIKE during the 1st quarter worth $2,645,000. Swedbank AB boosted its holdings in shares of NIKE by 2.8% during the 1st quarter. Swedbank AB now owns 953,011 shares of the footwear maker’s stock worth $60,497,000 after buying an additional 26,026 shares during the period. Finally, Voya Investment Management LLC boosted its holdings in shares of NIKE by 1.8% during the 1st quarter. Voya Investment Management LLC now owns 1,453,473 shares of the footwear maker’s stock worth $92,266,000 after buying an additional 25,481 shares during the period. 64.25% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on NKE shares. HSBC raised shares of NIKE from a “hold” rating to a “buy” rating and set a $80.00 price target for the company in a report on Friday, June 27th. Telsey Advisory Group reissued a “market perform” rating and issued a $70.00 price target on shares of NIKE in a report on Friday, June 27th. Jefferies Financial Group reaffirmed a “buy” rating and set a $115.00 price objective on shares of NIKE in a report on Friday, August 22nd. JPMorgan Chase & Co. raised shares of NIKE from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $64.00 to $93.00 in a report on Monday, July 28th. Finally, Zacks Research raised shares of NIKE from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 26th. Three research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $78.67.

NIKE Trading Down 1.6%

Shares of NIKE stock opened at $73.12 on Friday. The stock has a market capitalization of $107.98 billion, a P/E ratio of 33.85, a price-to-earnings-growth ratio of 2.70 and a beta of 1.24. The company has a quick ratio of 1.50, a current ratio of 2.21 and a debt-to-equity ratio of 0.60. The company has a 50-day simple moving average of $75.40 and a 200 day simple moving average of $67.81. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $90.62.

NIKE (NYSE:NKE) last announced its earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.02. The business had revenue of $11.10 billion during the quarter, compared to analysts’ expectations of $10.69 billion. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The firm’s revenue for the quarter was down 11.9% on a year-over-year basis. During the same quarter last year, the company posted $0.99 EPS. Research analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd will be given a dividend of $0.40 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.2%. NIKE’s dividend payout ratio (DPR) is 74.07%.

Insider Activity

In related news, Chairman Mark G. Parker sold 86,078 shares of the stock in a transaction dated 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 sale, the chairman owned 744,988 shares in the company, valued at $56,566,938.84. This trade represents a 10.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.80% of the stock is owned by company insiders.

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.