United Capital Financial Advisers LLC Reduces Stock Position in NIKE, Inc. (NYSE:NKE)

United Capital Financial Advisers LLC reduced its holdings in NIKE, Inc. (NYSE:NKE) by 0.6% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,475,711 shares of the footwear maker’s stock after selling 9,631 shares during the period. NIKE makes up 1.1% of United Capital Financial Advisers LLC’s portfolio, making the stock its 15th largest holding. United Capital Financial Advisers LLC owned approximately 0.09% of NIKE worth $227,983,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Welch & Forbes LLC lifted its holdings in shares of NIKE by 2.7% in the 2nd quarter. Welch & Forbes LLC now owns 67,957 shares of the footwear maker’s stock worth $10,498,000 after acquiring an additional 1,792 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG lifted its holdings in shares of NIKE by 23.1% in the 1st quarter. B. Metzler seel. Sohn & Co. Holding AG now owns 1,531,962 shares of the footwear maker’s stock worth $203,618,000 after acquiring an additional 287,639 shares during the last quarter. Haverford Trust Co. lifted its holdings in shares of NIKE by 12.4% in the 1st quarter. Haverford Trust Co. now owns 24,020 shares of the footwear maker’s stock worth $3,192,000 after acquiring an additional 2,653 shares during the last quarter. Payden & Rygel lifted its holdings in shares of NIKE by 37.9% in the 2nd quarter. Payden & Rygel now owns 16,000 shares of the footwear maker’s stock worth $2,472,000 after acquiring an additional 4,400 shares during the last quarter. Finally, Ballentine Partners LLC lifted its holdings in shares of NIKE by 6.4% in the 2nd quarter. Ballentine Partners LLC now owns 22,322 shares of the footwear maker’s stock worth $3,448,000 after acquiring an additional 1,349 shares during the last quarter. 64.45% of the stock is owned by institutional investors and hedge funds.

Shares of NIKE stock traded up $0.33 on Thursday, reaching $156.63. The stock had a trading volume of 264,136 shares, compared to its average volume of 6,575,932. The company has a 50 day moving average price of $160.78 and a 200 day moving average price of $148.68. The company has a quick ratio of 2.01, a current ratio of 2.72 and a debt-to-equity ratio of 0.74. NIKE, Inc. has a 1 year low of $118.80 and a 1 year high of $174.38. The stock has a market capitalization of $247.76 billion, a P/E ratio of 44.13, a P/E/G ratio of 2.49 and a beta of 0.87.

NIKE (NYSE:NKE) last released its earnings results on Wednesday, September 22nd. The footwear maker reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.04. The company had revenue of $12.25 billion for the quarter, compared to the consensus estimate of $12.47 billion. NIKE had a net margin of 12.86% and a return on equity of 51.41%. NIKE’s revenue was up 15.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.95 EPS. On average, analysts forecast that NIKE, Inc. will post 4.3 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, October 1st. Shareholders of record on Monday, August 30th were given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 0.70%. The ex-dividend date was Friday, August 27th. NIKE’s dividend payout ratio is presently 30.90%.

In other NIKE news, CFO Matthew Friend sold 3,546 shares of the business’s stock in a transaction that occurred on Thursday, August 5th. The shares were sold at an average price of $171.50, for a total transaction of $608,139.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, COO Andrew Campion sold 7,125 shares of NIKE stock in a transaction that occurred on Thursday, August 5th. The shares were sold at an average price of $171.50, for a total transaction of $1,221,937.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 66,671 shares of company stock worth $11,230,087. 3.70% of the stock is owned by insiders.

Several equities research analysts have recently issued reports on the stock. Credit Suisse Group set a $183.00 target price on shares of NIKE in a report on Wednesday, September 22nd. BTIG Research lowered shares of NIKE from a “buy” rating to a “neutral” rating in a report on Monday, September 13th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of NIKE from $179.00 to $171.00 and set a “buy” rating for the company in a report on Monday, September 20th. Jefferies Financial Group set a $200.00 price objective on shares of NIKE and gave the company a “buy” rating in a report on Friday, September 24th. Finally, JPMorgan Chase & Co. set a $192.00 price objective on shares of NIKE in a report on Friday, September 24th. One analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $174.94.

NIKE Profile

NIKE, Inc engages in the design, development, marketing, and sale of athletic footwear, apparel, accessories, equipment, and services. It operates through the following segments: North America; Europe, Middle East & Africa; Greater China; Asia Pacific & Latin America; Global Brand Divisions; Converse; and Corporate.

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Institutional Ownership by Quarter for NIKE (NYSE:NKE)

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