Nike, Inc. (NKE) Shares Sold by Morse Asset Management Inc

Morse Asset Management Inc lowered its position in Nike, Inc. (NYSE:NKE) by 48.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,358 shares of the footwear maker’s stock after selling 27,050 shares during the quarter. Morse Asset Management Inc’s holdings in Nike were worth $1,732,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. V Wealth Management LLC purchased a new position in shares of Nike in the second quarter valued at $100,000. Webster Bank N. A. increased its position in shares of Nike by 75.5% in the first quarter. Webster Bank N. A. now owns 2,092 shares of the footwear maker’s stock valued at $117,000 after buying an additional 900 shares in the last quarter. Rational Advisors LLC increased its position in shares of Nike by 14.3% in the first quarter. Rational Advisors LLC now owns 2,572 shares of the footwear maker’s stock valued at $143,000 after buying an additional 321 shares in the last quarter. Kistler Tiffany Companies LLC increased its position in shares of Nike by 91.7% in the second quarter. Kistler Tiffany Companies LLC now owns 2,527 shares of the footwear maker’s stock valued at $149,000 after buying an additional 1,209 shares in the last quarter. Finally, Parkside Financial Bank & Trust increased its position in shares of Nike by 7.8% in the second quarter. Parkside Financial Bank & Trust now owns 2,780 shares of the footwear maker’s stock valued at $164,000 after buying an additional 201 shares in the last quarter. Institutional investors and hedge funds own 62.64% of the company’s stock.

Shares of Nike, Inc. (NYSE NKE) opened at 52.42 on Friday. Nike, Inc. has a one year low of $49.01 and a one year high of $60.53. The company has a market capitalization of $85.92 billion, a P/E ratio of 22.32 and a beta of 0.61. The stock has a 50 day moving average price of $53.09 and a 200-day moving average price of $55.00.

Nike (NYSE:NKE) last announced its quarterly earnings data on Tuesday, September 26th. The footwear maker reported $0.57 EPS for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.09. Nike had a return on equity of 31.88% and a net margin of 11.47%. The company had revenue of $9.07 billion during the quarter, compared to the consensus estimate of $9.08 billion. During the same quarter last year, the company earned $0.73 EPS. The company’s quarterly revenue was up .1% on a year-over-year basis. Equities research analysts predict that Nike, Inc. will post $2.32 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Tuesday, September 5th were given a $0.18 dividend. The ex-dividend date of this dividend was Thursday, August 31st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.37%. Nike’s dividend payout ratio is currently 30.64%.

In other Nike news, Director Johnathan A. Rodgers sold 16,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $53.45, for a total value of $855,200.00. Following the completion of the sale, the director now owns 25,660 shares in the company, valued at approximately $1,371,527. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Andrew Campion sold 5,722 shares of the firm’s stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $59.40, for a total value of $339,886.80. Following the completion of the sale, the chief financial officer now owns 34,976 shares of the company’s stock, valued at approximately $2,077,574.40. The disclosure for this sale can be found here. Insiders sold a total of 162,117 shares of company stock valued at $9,409,321 in the last quarter. Corporate insiders own 3.90% of the company’s stock.

A number of research analysts have recently weighed in on NKE shares. Berenberg Bank restated a “buy” rating and issued a $70.00 price target on shares of Nike in a research report on Wednesday, June 14th. BidaskClub upgraded Nike from a “sell” rating to a “hold” rating in a research report on Wednesday, June 14th. Vetr upgraded Nike from a “hold” rating to a “buy” rating and set a $55.06 price target for the company in a research report on Thursday, June 15th. J P Morgan Chase & Co cut Nike from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $61.00 to $58.00 in a research report on Friday, June 16th. Finally, Goldman Sachs Group, Inc. (The) set a $62.00 price target on Nike and gave the company a “buy” rating in a research report on Friday, June 16th. Five equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. Nike currently has an average rating of “Hold” and a consensus price target of $59.14.

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About Nike

NIKE, Inc is engaged in the design, development, marketing and selling of athletic footwear, apparel, equipment, accessories and services. The Company’s operating segments include North America, Western Europe, Central & Eastern Europe, Greater China, Japan and Emerging Markets. Its portfolio brands include the NIKE Brand, Jordan Brand, Hurley and Converse.

Institutional Ownership by Quarter for Nike (NYSE:NKE)

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