Brighton Jones LLC Lowers Stake in NIKE, Inc. $NKE

Brighton Jones LLC reduced its holdings in shares of NIKE, Inc. (NYSE:NKE) by 5.2% in the second quarter, HoldingsChannel reports. The fund owned 67,772 shares of the footwear maker’s stock after selling 3,694 shares during the period. Brighton Jones LLC’s holdings in NIKE were worth $4,815,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of NKE. Stone House Investment Management LLC purchased a new position in NIKE in the first quarter worth about $25,000. Mascoma Wealth Management LLC purchased a new position in NIKE in the second quarter worth about $26,000. Halbert Hargrove Global Advisors LLC raised its holdings in NIKE by 952.6% in the second quarter. Halbert Hargrove Global Advisors LLC now owns 400 shares of the footwear maker’s stock worth $28,000 after buying an additional 362 shares during the last quarter. Saudi Central Bank purchased a new position in NIKE in the first quarter worth about $30,000. Finally, Matrix Trust Co raised its holdings in NIKE by 53.1% in the second quarter. Matrix Trust Co now owns 441 shares of the footwear maker’s stock worth $31,000 after buying an additional 153 shares during the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

NIKE Stock Performance

Shares of NKE stock opened at $69.15 on Friday. The company has a 50 day moving average price of $72.38 and a 200-day moving average price of $67.88. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $82.44. The firm has a market capitalization of $102.22 billion, a PE ratio of 35.46, a P/E/G ratio of 2.55 and a beta of 1.29. The company has a quick ratio of 1.45, a current ratio of 2.19 and a debt-to-equity ratio of 0.59.

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

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Investors 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 was Tuesday, September 2nd. NIKE’s payout ratio is 82.05%.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. KeyCorp set a $90.00 target price on shares of NIKE and gave the stock an “overweight” rating in a report on Thursday, October 2nd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of NIKE in a report on Saturday. UBS Group set a $71.00 target price on shares of NIKE and gave the stock a “neutral” rating in a report on Friday, September 19th. Stifel Nicolaus set a $68.00 target price on shares of NIKE and gave the stock a “hold” rating in a report on Wednesday, October 1st. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $115.00 target price on shares of NIKE in a report on Monday, September 29th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $82.21.

Insider Activity at NIKE

In related news, EVP Treasure Heinle sold 4,300 shares of the business’s stock in a transaction that occurred on Monday, October 6th. The shares were sold at an average price of $71.27, for a total transaction of $306,461.00. Following the completion of the sale, the executive vice president directly owned 29,396 shares in the company, valued at approximately $2,095,052.92. The trade was a 12.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Mark G. Parker sold 86,078 shares of the business’s stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $75.93, for a total transaction of $6,535,902.54. Following the sale, the chairman owned 744,988 shares of the company’s stock, valued at $56,566,938.84. This trade represents a 10.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.80% of the company’s stock.

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.