Venture Visionary Partners LLC Sells 847 Shares of NIKE, Inc. $NKE

Venture Visionary Partners LLC lessened its position in shares of NIKE, Inc. (NYSE:NKE) by 5.5% during the 2nd quarter, HoldingsChannel reports. The fund owned 14,472 shares of the footwear maker’s stock after selling 847 shares during the quarter. Venture Visionary Partners LLC’s holdings in NIKE were worth $1,028,000 at the end of the most recent quarter.

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

Insiders Place Their Bets

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $72.29, for a total transaction of $7,951,900.00. Following the completion of the transaction, the chairman owned 842,361 shares of the company’s stock, valued at $60,894,276.69. This represents a 11.55% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.80% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on NKE. Telsey Advisory Group increased their price target on NIKE from $70.00 to $75.00 and gave the company a “market perform” rating in a research note on Tuesday, September 23rd. Barclays increased their target price on NIKE from $64.00 to $65.00 and gave the company an “equal weight” rating in a research note on Thursday, September 18th. HSBC upgraded NIKE from a “hold” rating to a “buy” rating and set a $80.00 target price for the company in a research report on Friday, June 27th. Robert W. Baird increased their price target on shares of NIKE from $80.00 to $88.00 and gave the company an “outperform” rating in a research report on Friday, June 27th. Finally, Citigroup raised shares of NIKE from a “neutral” rating to a “positive” rating in a research note on Friday, September 19th. Three research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, NIKE has an average rating of “Moderate Buy” and an average target price of $79.62.

NIKE Trading Up 0.2%

NKE opened at $69.72 on Wednesday. The stock has a market capitalization of $102.97 billion, a P/E ratio of 32.28, a P/E/G ratio of 2.54 and a beta of 1.24. The company has a current ratio of 2.21, a quick ratio of 1.50 and a debt-to-equity ratio of 0.60. NIKE, Inc. has a 12 month low of $52.28 and a 12 month high of $89.64. The firm’s fifty day simple moving average is $74.78 and its 200 day simple moving average is $67.27.

NIKE (NYSE:NKE) last released its quarterly earnings results on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.22. The firm had revenue of $11.72 billion for the quarter, compared to the consensus estimate of $10.96 billion. NIKE had a return on equity of 23.33% and a net margin of 6.95%.The company’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter last year, the business posted $0.70 EPS. As a group, research analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be paid a $0.40 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $1.60 annualized dividend and a yield of 2.3%. NIKE’s payout ratio is presently 74.07%.

NIKE Company 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.