NIKE, Inc. (NYSE:NKE) Shares Sold by Cambridge Investment Research Advisors Inc.

Cambridge Investment Research Advisors Inc. decreased its holdings in shares of NIKE, Inc. (NYSE:NKE) by 2.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 127,570 shares of the footwear maker’s stock after selling 2,841 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in NIKE were worth $9,615,000 as of its most recent filing with the Securities and Exchange Commission.

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

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on NKE. Citigroup decreased their target price on shares of NIKE from $115.00 to $102.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Guggenheim decreased their price objective on shares of NIKE from $130.00 to $115.00 and set a “buy” rating for the company in a research report on Friday, June 28th. KeyCorp reaffirmed a “sector weight” rating on shares of NIKE in a research report on Friday, June 28th. Royal Bank of Canada reduced their price target on NIKE from $100.00 to $75.00 and set a “sector perform” rating for the company in a report on Tuesday, July 2nd. Finally, UBS Group restated a “neutral” rating and set a $78.00 price objective on shares of NIKE in a report on Friday, June 28th. Fifteen research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $95.59.

Insider Buying and Selling

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

NIKE Stock Performance

NKE opened at $84.80 on Wednesday. NIKE, Inc. has a twelve month low of $70.75 and a twelve month high of $123.39. The stock has a market cap of $127.99 billion, a PE ratio of 22.87, a price-to-earnings-growth ratio of 1.92 and a beta of 1.01. The business’s 50 day moving average is $78.86 and its 200-day moving average is $89.99. The company has a current ratio of 2.40, a quick ratio of 1.69 and a debt-to-equity ratio of 0.55.

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, 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 company had revenue of $12.60 billion during the quarter, compared to analysts’ expectations of $12.86 billion. During the same quarter in the prior year, the business posted $0.66 earnings per share. The company’s revenue for the quarter was down 1.6% compared to the same quarter last year. On average, analysts predict that NIKE, Inc. will post 3.12 earnings per share for the current year.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 1.75%. The ex-dividend date is Tuesday, September 3rd. 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.