Norden Group LLC Decreases Stock Position in NIKE, Inc. (NYSE:NKE)

Norden Group LLC reduced its holdings in shares of NIKE, Inc. (NYSE:NKE) by 7.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,109 shares of the footwear maker’s stock after selling 1,711 shares during the quarter. Norden Group LLC’s holdings in NIKE were worth $1,516,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cim LLC acquired a new position in shares of NIKE during the 4th quarter worth approximately $14,275,000. TKG Advisors LLC purchased a new stake in NIKE during the 4th quarter worth about $1,012,000. Brown Advisory Inc. raised its stake in NIKE by 4.3% in the 4th quarter. Brown Advisory Inc. now owns 4,668,949 shares of the footwear maker’s stock valued at $506,908,000 after purchasing an additional 192,752 shares during the last quarter. Missouri Trust & Investment Co lifted its holdings in NIKE by 11.3% in the 4th quarter. Missouri Trust & Investment Co now owns 11,492 shares of the footwear maker’s stock valued at $1,248,000 after purchasing an additional 1,167 shares in the last quarter. Finally, Spartan Planning & Wealth Management purchased a new position in NIKE in the 4th quarter valued at about $182,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on NKE shares. Stifel Nicolaus cut their price objective on shares of NIKE from $88.00 to $79.00 and set a “hold” rating for the company in a research report on Monday, August 26th. Evercore ISI reduced their price target on NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a research note on Friday, June 28th. Citigroup lowered their price objective on NIKE from $115.00 to $102.00 and set a “buy” rating for the company in a research report on Friday, June 28th. Morgan Stanley reiterated an “equal weight” rating and set a $79.00 target price (down from $114.00) on shares of NIKE in a research report on Friday, June 28th. Finally, BMO Capital Markets decreased their price target on NIKE from $118.00 to $100.00 and set an “outperform” rating on the stock in a research note on Friday, June 28th. Fifteen analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, NIKE presently has a consensus rating of “Moderate Buy” and an average price target of $95.59.

Insider Transactions at NIKE

In related news, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total value of $4,093,986.00. Following the sale, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at $80,435,628. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total value of $4,093,986.00. Following the sale, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at $80,435,628. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Mark G. Parker sold 110,000 shares of the company’s stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the completion of the sale, the chairman now directly owns 1,102,090 shares in the company, valued at $80,419,507.30. The disclosure for this sale can be found here. Corporate insiders own 0.50% of the company’s stock.

NIKE Trading Down 0.2 %

NKE traded down $0.20 during trading on Friday, hitting $80.63. 8,512,173 shares of the company’s stock were exchanged, compared to its average volume of 11,414,508. The stock has a 50 day moving average price of $76.94 and a 200 day moving average price of $88.78. NIKE, Inc. has a 1 year low of $70.75 and a 1 year high of $123.39. The company has a current ratio of 2.40, a quick ratio of 1.69 and a debt-to-equity ratio of 0.55. The firm has a market cap of $121.70 billion, a P/E ratio of 21.62, a price-to-earnings-growth ratio of 2.19 and a beta of 1.01.

NIKE (NYSE:NKE) last posted its earnings results on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.16. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The business had revenue of $12.60 billion for the quarter, compared to analysts’ expectations of $12.86 billion. During the same period in the previous year, the company posted $0.66 earnings per share. The business’s revenue for the quarter was down 1.6% compared to the same quarter last year. As a group, analysts expect that NIKE, Inc. will post 3.1 EPS for the current fiscal year.

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.84%. NIKE’s payout ratio is currently 39.68%.

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.