Evelyn Partners Investment Management LLP Sells 3,276 Shares of NIKE, Inc. $NKE

Evelyn Partners Investment Management LLP cut its holdings in NIKE, Inc. (NYSE:NKE) by 16.0% during the 2nd quarter, Holdings Channel reports. The firm owned 17,169 shares of the footwear maker’s stock after selling 3,276 shares during the period. Evelyn Partners Investment Management LLP’s holdings in NIKE were worth $1,220,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of NKE. Mascoma Wealth Management LLC bought a new stake in shares of NIKE in the 2nd quarter worth approximately $26,000. Stone House Investment Management LLC purchased a new stake in NIKE in the first quarter worth $25,000. Halbert Hargrove Global Advisors LLC boosted 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 valued at $28,000 after acquiring an additional 362 shares in the last quarter. Matrix Trust Co boosted its holdings in NIKE by 53.1% in the second quarter. Matrix Trust Co now owns 441 shares of the footwear maker’s stock valued at $31,000 after acquiring an additional 153 shares in the last quarter. Finally, Saudi Central Bank purchased a new position in NIKE during the 1st quarter valued at $30,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. DZ Bank raised shares of NIKE from a “hold” rating to a “buy” rating in a research report on Wednesday, October 1st. Wells Fargo & Company upgraded shares of NIKE from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $60.00 to $75.00 in a report on Thursday, November 13th. Weiss Ratings upgraded NIKE from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, October 8th. Wall Street Zen upgraded NIKE from a “sell” rating to a “hold” rating in a research note on Saturday, September 6th. Finally, Barclays set a $70.00 price target on NIKE and gave the company a “positive” rating in a research report on Wednesday, October 1st. Three analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, NIKE has a consensus rating of “Moderate Buy” and a consensus price target of $82.24.

NIKE Stock Performance

NIKE stock opened at $62.72 on Friday. The stock’s 50 day moving average is $67.36 and its 200 day moving average is $68.83. The company has a market capitalization of $92.71 billion, a P/E ratio of 32.16, a PEG ratio of 2.41 and a beta of 1.29. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $82.44. 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 released its 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. The firm had revenue of $11.72 billion for the quarter, compared to analysts’ expectations of $10.96 billion. NIKE had a return on equity of 21.16% and a net margin of 6.23%.The company’s quarterly revenue was up 1.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.70 earnings per share. On average, equities research analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Monday, December 1st will be issued a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 2.6%. This is a boost from NIKE’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Monday, December 1st. NIKE’s dividend payout ratio is presently 82.05%.

Insider Transactions at NIKE

In other news, EVP Treasure Heinle sold 4,300 shares of the 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 sale, the executive vice president owned 29,396 shares in the company, valued at $2,095,052.92. This represents a 12.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Mark G. Parker sold 86,078 shares of the business’s stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $64.80, for a total transaction of $5,577,854.40. Following the completion of the transaction, the chairman owned 647,615 shares of the company’s stock, valued at approximately $41,965,452. The trade was a 11.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.80% of the company’s stock.

NIKE 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.