National Asset Management Inc. lowered its position in Nike Inc (NYSE:NKE) by 2.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 14,260 shares of the footwear maker’s stock after selling 377 shares during the period. National Asset Management Inc.’s holdings in Nike were worth $1,199,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in NKE. Trustcore Financial Services LLC lifted its holdings in Nike by 2.9% during the second quarter. Trustcore Financial Services LLC now owns 4,261 shares of the footwear maker’s stock worth $358,000 after acquiring an additional 120 shares during the period. Merriman Wealth Management LLC lifted its holdings in Nike by 1.0% during the second quarter. Merriman Wealth Management LLC now owns 12,337 shares of the footwear maker’s stock worth $1,054,000 after acquiring an additional 126 shares during the period. Midwest Professional Planners LTD. lifted its holdings in Nike by 1.0% during the first quarter. Midwest Professional Planners LTD. now owns 12,794 shares of the footwear maker’s stock worth $1,077,000 after acquiring an additional 127 shares during the period. Arcadia Investment Management Corp MI lifted its holdings in Nike by 45.4% during the first quarter. Arcadia Investment Management Corp MI now owns 410 shares of the footwear maker’s stock worth $35,000 after acquiring an additional 128 shares during the period. Finally, First Personal Financial Services lifted its holdings in Nike by 14.9% during the second quarter. First Personal Financial Services now owns 992 shares of the footwear maker’s stock worth $83,000 after acquiring an additional 129 shares during the period. Institutional investors and hedge funds own 66.41% of the company’s stock.
Nike stock traded up $1.78 during midday trading on Wednesday, hitting $82.31. 234,455 shares of the company’s stock were exchanged, compared to its average volume of 6,145,842. Nike Inc has a 52-week low of $66.53 and a 52-week high of $90.00. The stock has a 50-day moving average price of $84.93 and a two-hundred day moving average price of $84.59. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.39 and a current ratio of 2.10. The company has a market cap of $128.47 billion, a P/E ratio of 33.03, a PEG ratio of 2.13 and a beta of 0.78.
The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.07%. The ex-dividend date is Friday, August 30th. Nike’s dividend payout ratio (DPR) is currently 35.34%.
In other Nike news, Director Elizabeth J. Comstock sold 24,000 shares of Nike stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $84.84, for a total transaction of $2,036,160.00. Following the completion of the sale, the director now owns 38,813 shares of the company’s stock, valued at $3,292,894.92. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Elliott Hill sold 34,100 shares of Nike stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $88.34, for a total value of $3,012,394.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 194,637 shares of company stock valued at $16,767,237. Corporate insiders own 3.80% of the company’s stock.
NKE has been the topic of a number of recent analyst reports. Stifel Nicolaus set a $96.00 price target on Nike and gave the stock a “buy” rating in a report on Wednesday, August 7th. Pivotal Research set a $101.00 price target on Nike and gave the stock a “buy” rating in a report on Friday, June 28th. Zacks Investment Research upgraded Nike from a “sell” rating to a “hold” rating and set a $95.00 price target on the stock in a report on Monday, May 27th. Credit Suisse Group reiterated a “buy” rating and set a $97.00 price target on shares of Nike in a report on Friday, June 28th. Finally, JPMorgan Chase & Co. lifted their price target on Nike from $90.00 to $100.00 and gave the stock an “overweight” rating in a report on Tuesday, July 9th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and twenty-two have given a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $90.02.
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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