NIKE, Inc. $NKE Shares Sold by Lansing Street Advisors

Lansing Street Advisors trimmed its position in NIKE, Inc. (NYSE:NKE) by 5.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,477 shares of the footwear maker’s stock after selling 362 shares during the quarter. Lansing Street Advisors’ holdings in NIKE were worth $463,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Northern Financial Advisors Inc acquired a new position in NIKE in the 2nd quarter worth approximately $1,223,000. WoodTrust Financial Corp boosted its holdings in shares of NIKE by 15.3% in the 2nd quarter. WoodTrust Financial Corp now owns 128,220 shares of the footwear maker’s stock valued at $9,109,000 after acquiring an additional 17,041 shares during the last quarter. NBT Bank N A NY lifted its position in NIKE by 1.3% during the second quarter. NBT Bank N A NY now owns 31,719 shares of the footwear maker’s stock valued at $2,253,000 after purchasing an additional 404 shares during the period. Lakeshore Capital Group Inc. lifted its position in NIKE by 47.8% during the second quarter. Lakeshore Capital Group Inc. now owns 5,219 shares of the footwear maker’s stock valued at $371,000 after purchasing an additional 1,687 shares during the period. Finally, BankPlus Trust Department lifted its position in NIKE by 699.4% during the second quarter. BankPlus Trust Department now owns 4,021 shares of the footwear maker’s stock valued at $286,000 after purchasing an additional 3,518 shares during the period. Institutional investors and hedge funds own 64.25% of the company’s stock.

Insider Transactions at NIKE

In other news, EVP Treasure Heinle sold 4,300 shares of the firm’s stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $71.27, for a total value of $306,461.00. Following the transaction, the executive vice president directly owned 29,396 shares of the company’s stock, valued at approximately $2,095,052.92. This trade represents a 12.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Mark G. Parker sold 110,000 shares of the company’s stock in a transaction that occurred 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 sale, the chairman owned 842,361 shares of the company’s stock, valued at $60,894,276.69. This trade represents a 11.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 200,378 shares of company stock worth $14,794,264 over the last ninety days. 0.80% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on NKE shares. Morgan Stanley set a $72.00 price objective on NIKE and gave the company a “positive” rating in a research note on Wednesday, October 1st. JPMorgan Chase & Co. raised their target price on NIKE from $93.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, October 1st. Robert W. Baird raised their target price on NIKE from $80.00 to $88.00 and gave the stock an “outperform” rating in a report on Friday, June 27th. Barclays set a $70.00 price objective on NIKE and gave the stock a “positive” rating in a research report on Wednesday, October 1st. Finally, TD Cowen upgraded NIKE from a “hold” rating to a “buy” rating and upped their price objective for the stock from $62.00 to $85.00 in a research report on Wednesday, September 10th. Three analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, NIKE presently has an average rating of “Moderate Buy” and an average price target of $81.57.

NIKE Trading Down 3.0%

Shares of NKE stock opened at $69.03 on Wednesday. The company has a market cap of $101.95 billion, a price-to-earnings ratio of 35.40, a PEG ratio of 2.61 and a beta of 1.29. The stock has a 50 day simple moving average of $74.28 and a 200-day simple moving average of $67.28. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.19 and a quick ratio of 1.45. NIKE, Inc. has a 1-year low of $52.28 and a 1-year high of $84.76.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Tuesday, September 30th. The footwear maker reported $0.49 EPS for the quarter, topping the consensus estimate of $0.27 by $0.22. NIKE had a net margin of 6.23% and a return on equity of 21.16%. The company had revenue of $11.72 billion during the quarter, compared to analyst estimates of $10.96 billion. During the same quarter in the previous year, the firm earned $0.70 EPS. The firm’s revenue was up 1.0% compared to the same quarter last year. On average, equities research analysts expect that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd were paid a $0.40 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.3%. NIKE’s dividend payout ratio (DPR) is currently 82.05%.

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.