SP Asset Management LLC Sells 28,840 Shares of NIKE, Inc. $NKE

SP Asset Management LLC reduced its holdings in shares of NIKE, Inc. (NYSE:NKE) by 26.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 81,630 shares of the footwear maker’s stock after selling 28,840 shares during the period. SP Asset Management LLC’s holdings in NIKE were worth $5,799,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in NKE. Stone House Investment Management LLC bought a new position in shares of NIKE in the first quarter worth approximately $25,000. Mascoma Wealth Management LLC bought a new position in shares of NIKE during the second quarter valued at $26,000. Halbert Hargrove Global Advisors LLC increased its holdings in NIKE by 952.6% in the 2nd 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 in the last quarter. Saudi Central Bank bought a new stake in shares of NIKE during the 1st quarter valued at about $30,000. Finally, Matrix Trust Co grew its stake in shares of NIKE by 53.1% during the 2nd quarter. Matrix Trust Co now owns 441 shares of the footwear maker’s stock valued at $31,000 after purchasing an additional 153 shares during the period. Institutional investors own 64.25% of the company’s stock.

NIKE Trading Up 1.5%

NKE opened at $62.14 on Thursday. The business has a fifty day moving average price of $70.29 and a 200 day moving average price of $68.46. The stock has a market capitalization of $91.86 billion, a price-to-earnings ratio of 31.87, a PEG ratio of 2.41 and a beta of 1.29. NIKE, Inc. has a 12 month low of $52.28 and a 12 month high of $82.44. 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 (NYSE:NKE) last released its quarterly 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. NIKE had a return on equity of 21.16% and a net margin of 6.23%.The firm had revenue of $11.72 billion for the quarter, compared to the consensus estimate of $10.96 billion. During the same quarter last year, the business posted $0.70 EPS. The firm’s quarterly revenue was up 1.0% compared to the same quarter last year. Sell-side analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

Analyst Ratings Changes

NKE has been the topic of a number of research analyst reports. Stifel Nicolaus set a $68.00 price target on NIKE and gave the stock a “hold” rating in a report on Wednesday, October 1st. Barclays set a $70.00 price objective on NIKE and gave the stock a “positive” rating in a research note on Wednesday, October 1st. Royal Bank Of Canada reiterated an “outperform” rating on shares of NIKE in a research note on Friday, October 10th. DZ Bank raised NIKE from a “hold” rating to a “buy” rating in a report on Wednesday, October 1st. Finally, Sanford C. Bernstein reissued a “buy” rating and issued 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 given a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, NIKE has a consensus rating of “Moderate Buy” and a consensus price target of $82.21.

Insiders Place Their Bets

In other NIKE news, Chairman Mark G. Parker sold 86,078 shares of the stock in a transaction on Thursday, August 14th. The stock was 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 in the company, valued at approximately $56,566,938.84. This represents a 10.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Treasure Heinle sold 4,300 shares of the firm’s 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. This trade represents a 12.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.80% of the stock is currently owned by corporate insiders.

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.