Halsey Associates Inc. CT Trims Position in Nike Inc (NYSE:NKE)

Halsey Associates Inc. CT lowered its holdings in Nike Inc (NYSE:NKE) by 3.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 129,179 shares of the footwear maker’s stock after selling 5,218 shares during the quarter. Nike accounts for 2.0% of Halsey Associates Inc. CT’s holdings, making the stock its 20th biggest position. Halsey Associates Inc. CT’s holdings in Nike were worth $10,293,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Fuller & Thaler Asset Management Inc. purchased a new position in Nike during the second quarter valued at $104,000. CSat Investment Advisory L.P. purchased a new position in Nike during the second quarter valued at $119,000. Bruderman Asset Management LLC purchased a new position in Nike during the first quarter valued at $129,000. Tyvor Capital LLC purchased a new position in Nike during the second quarter valued at $160,000. Finally, Archford Capital Strategies LLC purchased a new position in Nike during the first quarter valued at $137,000. Institutional investors own 63.97% of the company’s stock.

Shares of NKE stock opened at $80.23 on Tuesday. The company has a current ratio of 2.31, a quick ratio of 1.53 and a debt-to-equity ratio of 0.39. Nike Inc has a 12 month low of $50.35 and a 12 month high of $86.04. The stock has a market cap of $135.60 billion, a price-to-earnings ratio of 33.15, a PEG ratio of 2.81 and a beta of 0.65.

Nike (NYSE:NKE) last announced its quarterly earnings results on Tuesday, September 25th. The footwear maker reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.04. Nike had a net margin of 5.57% and a return on equity of 40.69%. The business had revenue of $9.95 billion during the quarter, compared to analysts’ expectations of $9.92 billion. During the same period last year, the business earned $0.57 earnings per share. The business’s revenue for the quarter was up 9.7% on a year-over-year basis. On average, research analysts anticipate that Nike Inc will post 2.63 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, October 1st. Shareholders of record on Tuesday, September 4th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date of this dividend was Friday, August 31st. Nike’s dividend payout ratio is presently 33.06%.

Nike declared that its Board of Directors has authorized a share repurchase plan on Thursday, June 28th that allows the company to repurchase $15.00 billion in shares. This repurchase authorization allows the footwear maker to buy up to 12.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Several research firms have issued reports on NKE. Zacks Investment Research downgraded shares of Nike from a “buy” rating to a “hold” rating in a report on Thursday, June 21st. Nomura increased their price objective on shares of Nike from $74.00 to $85.00 and gave the company a “buy” rating in a report on Friday, June 29th. Piper Jaffray Companies increased their price objective on shares of Nike to $72.00 and gave the company a “neutral” rating in a report on Friday, June 29th. Wedbush increased their price objective on shares of Nike from $82.00 to $85.00 and gave the company an “outperform” rating in a report on Friday, June 29th. Finally, Sanford C. Bernstein increased their price objective on shares of Nike from $76.00 to $84.00 and gave the company an “outperform” rating in a report on Friday, June 29th. Two research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and twenty-three have given a buy rating to the company. Nike has an average rating of “Buy” and an average price target of $84.60.

In other Nike news, EVP Monique S. Matheson sold 17,000 shares of Nike stock in a transaction dated Tuesday, September 11th. The shares were sold at an average price of $83.15, for a total transaction of $1,413,550.00. Following the completion of the sale, the executive vice president now directly owns 104,737 shares in the company, valued at $8,708,881.55. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Andrew Campion sold 2,907 shares of Nike stock in a transaction dated Tuesday, July 24th. The shares were sold at an average price of $76.85, for a total transaction of $223,402.95. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 72,778 shares of company stock valued at $5,969,246. Company insiders own 3.90% of the company’s stock.

Nike Profile

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories: running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, lacrosse, skateboarding, tennis, volleyball, wrestling, walking, and outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.

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Institutional Ownership by Quarter for Nike (NYSE:NKE)

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