Jupiter Wealth Management LLC Reduces Holdings in NIKE, Inc. $NKE

Jupiter Wealth Management LLC lessened its holdings in shares of NIKE, Inc. (NYSE:NKE) by 17.4% in the first quarter, Holdings Channel.com reports. The firm owned 32,646 shares of the footwear maker’s stock after selling 6,884 shares during the period. NIKE comprises about 1.3% of Jupiter Wealth Management LLC’s investment portfolio, making the stock its 19th biggest position. Jupiter Wealth Management LLC’s holdings in NIKE were worth $2,027,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of NIKE by 4.6% in the first quarter. Vanguard Group Inc. now owns 113,151,080 shares of the footwear maker’s stock valued at $7,182,831,000 after acquiring an additional 4,957,494 shares during the period. Wellington Management Group LLP increased its stake in NIKE by 24.9% in the first quarter. Wellington Management Group LLP now owns 45,383,916 shares of the footwear maker’s stock valued at $2,880,971,000 after acquiring an additional 9,043,180 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of NIKE by 344.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 26,698,835 shares of the footwear maker’s stock valued at $1,694,842,000 after purchasing an additional 20,688,013 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of NIKE by 3.0% during the first quarter. Bank of New York Mellon Corp now owns 20,988,207 shares of the footwear maker’s stock worth $1,332,331,000 after acquiring an additional 620,214 shares in the last quarter. Finally, Flossbach Von Storch SE lifted its stake in NIKE by 24.0% in the first quarter. Flossbach Von Storch SE now owns 10,286,619 shares of the footwear maker’s stock worth $652,995,000 after purchasing an additional 1,988,547 shares during the last quarter. 64.25% of the stock is owned by institutional investors.

NIKE Trading Down 0.7%

Shares of NKE stock opened at $73.60 on Wednesday. The stock has a fifty day simple moving average of $75.54 and a two-hundred day simple moving average of $67.87. The firm has a market capitalization of $108.70 billion, a PE ratio of 34.07, a PEG ratio of 2.69 and a beta of 1.24. NIKE, Inc. has a 52-week low of $52.28 and a 52-week high of $90.62. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.50 and a current ratio of 2.21.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.02. NIKE had a return on equity of 23.33% and a net margin of 6.95%.The business had revenue of $11.10 billion during the quarter, compared to the consensus estimate of $10.69 billion. During the same period in the prior year, the company posted $0.99 EPS. The firm’s revenue for the quarter was down 11.9% compared to the same quarter last year. On average, analysts predict that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.2%. NIKE’s dividend payout ratio is presently 74.07%.

Analysts Set New Price Targets

Several analysts have weighed in on the company. HSBC upgraded NIKE from a “hold” rating to a “buy” rating and set a $80.00 price objective for the company in a research report on Friday, June 27th. DZ Bank downgraded NIKE from a “buy” rating to a “hold” rating and set a $76.00 target price on the stock. in a report on Thursday, July 10th. Argus raised shares of NIKE to a “buy” rating in a research report on Sunday, July 6th. Needham & Company LLC lifted their price objective on NIKE from $66.00 to $78.00 and gave the company a “buy” rating in a research note on Friday, June 27th. Finally, Telsey Advisory Group reiterated a “market perform” rating and issued a $70.00 target price on shares of NIKE in a research note on Friday, June 27th. Three research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and twelve have assigned a Hold rating to the stock. According to MarketBeat.com, NIKE has an average rating of “Moderate Buy” and a consensus target price of $78.67.

Insider Activity at NIKE

In related news, Chairman Mark G. Parker sold 110,000 shares of the firm’s stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $72.29, for a total value of $7,951,900.00. Following the completion of the transaction, the chairman directly owned 842,361 shares of the company’s stock, valued at approximately $60,894,276.69. This trade represents a 11.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.80% of the company’s stock.

NIKE Profile

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.