Rehmann Capital Advisory Group Has $693,000 Holdings in NIKE, Inc. $NKE

Rehmann Capital Advisory Group decreased its stake in NIKE, Inc. (NYSE:NKE) by 7.0% during the 2nd quarter, HoldingsChannel reports. The fund owned 9,748 shares of the footwear maker’s stock after selling 731 shares during the period. Rehmann Capital Advisory Group’s holdings in NIKE were worth $693,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Brookstone Capital Management increased its holdings in shares of NIKE by 15.7% during the 2nd quarter. Brookstone Capital Management now owns 151,152 shares of the footwear maker’s stock worth $10,738,000 after purchasing an additional 20,557 shares during the period. D.A. Davidson & CO. grew its position in NIKE by 35.4% during the second quarter. D.A. Davidson & CO. now owns 143,601 shares of the footwear maker’s stock worth $10,201,000 after buying an additional 37,537 shares in the last quarter. Gables Capital Management Inc. grew its position in NIKE by 36.7% during the second quarter. Gables Capital Management Inc. now owns 3,725 shares of the footwear maker’s stock worth $265,000 after buying an additional 1,000 shares in the last quarter. Cullen Frost Bankers Inc. increased its stake in NIKE by 3.2% during the second quarter. Cullen Frost Bankers Inc. now owns 151,213 shares of the footwear maker’s stock valued at $10,742,000 after acquiring an additional 4,677 shares during the period. Finally, Coronation Fund Managers Ltd. raised its holdings in NIKE by 274.5% in the 2nd quarter. Coronation Fund Managers Ltd. now owns 207,407 shares of the footwear maker’s stock valued at $14,734,000 after acquiring an additional 152,020 shares in the last quarter. Institutional investors own 64.25% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Cowen raised NIKE from a “hold” rating to a “buy” rating in a report on Wednesday, September 10th. Argus raised NIKE to a “buy” rating in a research report on Sunday, July 6th. Zacks Research raised shares of NIKE from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 26th. Telsey Advisory Group restated a “market perform” rating and issued a $75.00 price objective on shares of NIKE in a research note on Wednesday, October 1st. Finally, Sanford C. Bernstein reaffirmed a “buy” rating and set a $90.00 price objective on shares of NIKE in a report on Monday, October 13th. Three research analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $82.21.

Insider Activity at NIKE

In other NIKE news, Chairman Mark G. Parker sold 86,078 shares of NIKE stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $75.93, for a total value of $6,535,902.54. Following the completion of the transaction, the chairman owned 744,988 shares in the company, valued at approximately $56,566,938.84. The trade was a 10.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Treasure Heinle sold 4,300 shares of the stock in a transaction on Monday, October 6th. The stock was 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 in the company, valued at $2,095,052.92. The trade was a 12.76% decrease in their position. The disclosure for this sale can be found here. 0.80% of the stock is owned by insiders.

NIKE Stock Up 0.9%

Shares of NYSE:NKE opened at $69.68 on Friday. The company’s fifty day moving average is $72.54 and its 200-day moving average is $67.67. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.45 and a current ratio of 2.19. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $82.44. The company has a market capitalization of $103.00 billion, a PE ratio of 35.73, a P/E/G ratio of 2.55 and a beta of 1.29.

NIKE (NYSE:NKE) last announced its earnings results on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.22. The business had revenue of $11.72 billion during the quarter, compared to analysts’ expectations of $10.96 billion. NIKE had a net margin of 6.23% and a return on equity of 21.16%. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter last year, the company posted $0.70 EPS. Equities research analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend was Tuesday, September 2nd. NIKE’s payout ratio is presently 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.