Axxcess Wealth Management LLC Reduces Stock Position in NIKE, Inc. $NKE

Axxcess Wealth Management LLC reduced its position in shares of NIKE, Inc. (NYSE:NKE) by 15.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,874 shares of the footwear maker’s stock after selling 892 shares during the period. Axxcess Wealth Management LLC’s holdings in NIKE were worth $346,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of NKE. Goldman Sachs Group Inc. boosted its holdings in shares of NIKE by 344.2% during the first quarter. Goldman Sachs Group Inc. now owns 26,698,835 shares of the footwear maker’s stock worth $1,694,842,000 after purchasing an additional 20,688,013 shares during the period. Wellington Management Group LLP boosted its holdings in shares of NIKE by 24.9% during the first quarter. Wellington Management Group LLP now owns 45,383,916 shares of the footwear maker’s stock worth $2,880,971,000 after purchasing an additional 9,043,180 shares during the period. Jennison Associates LLC purchased a new stake in shares of NIKE during the first quarter worth about $509,051,000. Nuveen LLC bought a new position in NIKE in the first quarter worth about $502,285,000. Finally, Vanguard Group Inc. raised its stake in NIKE by 4.6% in the first quarter. Vanguard Group Inc. now owns 113,151,080 shares of the footwear maker’s stock worth $7,182,831,000 after buying an additional 4,957,494 shares in the last quarter. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Chairman Mark G. Parker sold 86,078 shares of the stock in a transaction that occurred on 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 sale, the chairman owned 744,988 shares in the company, valued at $56,566,938.84. This represents a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Treasure Heinle sold 4,300 shares of the stock in a transaction that occurred on Monday, October 6th. The shares were sold at an average price of $71.27, for a total transaction of $306,461.00. Following the sale, the executive vice president owned 29,396 shares in the company, valued at approximately $2,095,052.92. The trade was a 12.76% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.80% of the company’s stock.

NIKE Price Performance

Shares of NYSE NKE opened at $67.46 on Friday. NIKE, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $83.95. The company has a 50 day simple moving average of $73.10 and a two-hundred day simple moving average of $67.40. The company has a market capitalization of $99.72 billion, a price-to-earnings ratio of 34.59, a P/E/G ratio of 2.48 and a beta of 1.29. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.45 and a current ratio of 2.19.

NIKE (NYSE:NKE) last announced its earnings results on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.22. NIKE had a net margin of 6.23% and a return on equity of 21.16%. The business had revenue of $11.72 billion during the quarter, compared to the consensus estimate of $10.96 billion. During the same quarter last year, the firm earned $0.70 earnings per share. The business’s revenue for the quarter was up 1.0% on a year-over-year basis. Analysts expect that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd were issued a dividend of $0.40 per share. The ex-dividend date was Tuesday, September 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.4%. NIKE’s dividend payout ratio is presently 82.05%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Citigroup raised shares of NIKE from a “neutral” rating to a “positive” rating in a research note on Friday, September 19th. The Goldman Sachs Group set a $85.00 price target on shares of NIKE and gave the stock a “buy” rating in a research note on Thursday, September 25th. Argus raised shares of NIKE to a “buy” rating in a research note on Sunday, July 6th. Weiss Ratings raised shares of NIKE from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, October 8th. Finally, Bank of America increased their price target on shares of NIKE from $80.00 to $84.00 and gave the stock a “buy” rating in a research note on Friday, June 27th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $82.21.

NIKE Profile

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.