NIKE, Inc. $NKE Shares Sold by Prime Capital Investment Advisors LLC

Prime Capital Investment Advisors LLC cut its holdings in shares of NIKE, Inc. (NYSE:NKE) by 18.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 24,343 shares of the footwear maker’s stock after selling 5,660 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in NIKE were worth $1,729,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in NKE. Brighton Jones LLC lifted its holdings in NIKE by 388.5% during the 4th quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker’s stock worth $15,316,000 after buying an additional 160,980 shares in the last quarter. Park Avenue Securities LLC raised its holdings in shares of NIKE by 12.1% in the 1st quarter. Park Avenue Securities LLC now owns 16,705 shares of the footwear maker’s stock valued at $1,060,000 after purchasing an additional 1,806 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in shares of NIKE by 4.6% in the 1st quarter. Farther Finance Advisors LLC now owns 42,014 shares of the footwear maker’s stock valued at $2,721,000 after purchasing an additional 1,854 shares in the last quarter. Harbor Capital Advisors Inc. raised its holdings in shares of NIKE by 32.1% in the 1st quarter. Harbor Capital Advisors Inc. now owns 21,766 shares of the footwear maker’s stock valued at $1,382,000 after purchasing an additional 5,291 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of NIKE by 39.1% in the 1st quarter. GAMMA Investing LLC now owns 20,877 shares of the footwear maker’s stock valued at $1,325,000 after purchasing an additional 5,863 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NKE has been the topic of a number of analyst reports. Citigroup upgraded shares of NIKE from a “neutral” rating to a “positive” rating in a report on Friday, September 19th. Robert W. Baird raised their price objective on shares of NIKE from $80.00 to $88.00 and gave the company an “outperform” rating in a report on Friday, June 27th. Jefferies Financial Group restated a “buy” rating and issued a $115.00 price objective on shares of NIKE in a report on Monday, September 29th. UBS Group set a $71.00 price objective on shares of NIKE and gave the company a “neutral” rating in a report on Friday, September 19th. Finally, Bank of America raised their price objective on shares of NIKE from $80.00 to $84.00 and gave the company a “buy” rating in a report on Friday, June 27th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $81.57.

NIKE Trading Up 0.3%

Shares of NIKE stock opened at $69.10 on Thursday. NIKE, Inc. has a 1 year low of $52.28 and a 1 year high of $84.76. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.45 and a current ratio of 2.19. The company has a market capitalization of $102.05 billion, a P/E ratio of 35.44, a PEG ratio of 2.52 and a beta of 1.29. The company’s fifty day moving average is $74.12 and its two-hundred day moving average is $67.29.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share (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 for the quarter, compared to the consensus estimate of $10.96 billion. During the same period last year, the firm posted $0.70 EPS. NIKE’s revenue for the quarter was up 1.0% on a year-over-year basis. Analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Tuesday, September 2nd. NIKE’s dividend payout ratio (DPR) is presently 82.05%.

Insider Buying and Selling at NIKE

In other news, EVP Treasure Heinle sold 4,300 shares of NIKE 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 sale, the executive vice president owned 29,396 shares of the company’s stock, valued at $2,095,052.92. The trade was a 12.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $72.29, for a total transaction of $7,951,900.00. Following the completion of the sale, the chairman directly owned 842,361 shares in the company, valued at approximately $60,894,276.69. The trade was a 11.55% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 200,378 shares of company stock worth $14,794,264 over the last three months. 0.80% 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.