Ferguson Wellman Capital Management Inc. Sells 2,913 Shares of NIKE, Inc. (NYSE:NKE)

Ferguson Wellman Capital Management Inc. decreased its position in NIKE, Inc. (NYSE:NKE) by 7.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 35,517 shares of the footwear maker’s stock after selling 2,913 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in NIKE were worth $3,140,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Harfst & Associates Inc. lifted its stake in shares of NIKE by 7.5% in the 3rd quarter. Harfst & Associates Inc. now owns 25,092 shares of the footwear maker’s stock valued at $2,218,000 after purchasing an additional 1,753 shares during the period. Commonwealth Equity Services LLC increased its holdings in NIKE by 7.8% in the third quarter. Commonwealth Equity Services LLC now owns 454,719 shares of the footwear maker’s stock worth $40,197,000 after purchasing an additional 32,907 shares in the last quarter. Legacy Financial Strategies LLC acquired a new position in NIKE in the third quarter valued at approximately $210,000. Raymond James & Associates lifted its stake in NIKE by 7.5% in the third quarter. Raymond James & Associates now owns 1,505,332 shares of the footwear maker’s stock valued at $133,071,000 after buying an additional 105,093 shares during the period. Finally, First Citizens Bank & Trust Co. boosted its holdings in shares of NIKE by 151.6% during the 3rd quarter. First Citizens Bank & Trust Co. now owns 60,053 shares of the footwear maker’s stock worth $5,309,000 after buying an additional 36,183 shares in the last quarter. Institutional investors own 64.25% of the company’s stock.

Analysts Set New Price Targets

NKE has been the topic of a number of research reports. Bank of America dropped their target price on shares of NIKE from $104.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, October 2nd. Wedbush cut their price objective on shares of NIKE from $115.00 to $97.00 and set an “outperform” rating on the stock in a research report on Friday, June 28th. Stifel Nicolaus reduced their target price on NIKE from $88.00 to $79.00 and set a “hold” rating for the company in a research note on Monday, August 26th. Citigroup cut their price target on NIKE from $115.00 to $102.00 and set a “buy” rating on the stock in a report on Friday, June 28th. Finally, BMO Capital Markets lowered their target price on NIKE from $118.00 to $100.00 and set an “outperform” rating on the stock in a research report on Friday, June 28th. Fourteen research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $96.56.

NIKE Stock Performance

Shares of NKE stock traded down $0.48 on Friday, hitting $82.92. 7,214,787 shares of the stock were exchanged, compared to its average volume of 11,701,926. The firm’s 50 day moving average is $82.64 and its two-hundred day moving average is $85.32. NIKE, Inc. has a one year low of $70.75 and a one year high of $123.39. The firm has a market capitalization of $125.16 billion, a PE ratio of 22.23, a P/E/G ratio of 1.96 and a beta of 1.02. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last posted its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.18. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The firm had revenue of $11.59 billion for the quarter, compared to the consensus estimate of $11.64 billion. During the same quarter in the prior year, the business posted $0.94 earnings per share. The business’s quarterly revenue was down 10.4% on a year-over-year basis. Sell-side analysts expect that NIKE, Inc. will post 2.8 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd were given a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 1.78%. The ex-dividend date was Tuesday, September 3rd. NIKE’s dividend payout ratio (DPR) is 39.68%.

Insider Activity at NIKE

In other news, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total value of $4,093,986.00. Following the completion of the transaction, the chairman now directly owns 1,031,226 shares in the company, valued at approximately $80,435,628. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.50% of the stock is currently owned by insiders.

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.