Wedbush Securities Inc. Sells 1,832 Shares of NIKE, Inc. (NYSE:NKE)

Wedbush Securities Inc. trimmed its position in shares of NIKE, Inc. (NYSE:NKE) by 6.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,001 shares of the footwear maker’s stock after selling 1,832 shares during the period. Wedbush Securities Inc.’s holdings in NIKE were worth $2,035,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Annapolis Financial Services LLC boosted its holdings in NIKE by 440.0% during the first quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock valued at $25,000 after acquiring an additional 220 shares during the period. True Wealth Design LLC lifted its stake in shares of NIKE by 106.4% in the fourth quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock valued at $32,000 after buying an additional 150 shares during the period. Core Wealth Advisors Inc. lifted its stake in shares of NIKE by 408.5% in the fourth quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock valued at $33,000 after buying an additional 241 shares during the period. Frank Rimerman Advisors LLC bought a new stake in shares of NIKE in the fourth quarter valued at about $33,000. Finally, Gold Investment Management Ltd. bought a new stake in shares of NIKE in the fourth quarter valued at about $36,000. 64.25% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other NIKE news, Director Robert Holmes Swan bought 2,941 shares of the company’s stock in a transaction on Friday, June 28th. The stock was bought at an average price of $77.02 per share, for a total transaction of $226,515.82. Following the transaction, the director now owns 20,946 shares of the company’s stock, valued at approximately $1,613,260.92. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other NIKE news, Director Robert Holmes Swan bought 2,941 shares of the company’s stock in a transaction on Friday, June 28th. The stock was bought at an average price of $77.02 per share, for a total transaction of $226,515.82. Following the transaction, the director now owns 20,946 shares of the company’s stock, valued at approximately $1,613,260.92. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 transaction of $4,093,986.00. Following the sale, the chairman now owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

NKE has been the subject of several research reports. Citigroup reduced their target price on shares of NIKE from $115.00 to $102.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Wells Fargo & Company reduced their target price on shares of NIKE from $115.00 to $92.00 and set an “overweight” rating for the company in a research note on Friday, June 28th. Morgan Stanley reiterated an “equal weight” rating and issued a $79.00 target price (down previously from $114.00) on shares of NIKE in a research note on Friday, June 28th. JPMorgan Chase & Co. restated a “neutral” rating and set a $83.00 price target (down previously from $116.00) on shares of NIKE in a research note on Friday, June 28th. Finally, KeyCorp restated a “sector weight” rating on shares of NIKE in a research note on Friday, June 28th. Fourteen analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, NIKE currently has a consensus rating of “Moderate Buy” and an average price target of $95.59.

NIKE Stock Performance

NKE stock opened at $79.50 on Tuesday. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.40 and a quick ratio of 1.69. The company has a 50 day moving average price of $76.99 and a 200 day moving average price of $88.38. NIKE, Inc. has a fifty-two week low of $70.75 and a fifty-two week high of $123.39. The stock has a market capitalization of $119.20 billion, a PE ratio of 21.31, a price-to-earnings-growth ratio of 2.11 and a beta of 1.02.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.16. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The firm had revenue of $12.60 billion during the quarter, compared to analysts’ expectations of $12.86 billion. During the same quarter in the previous year, the company posted $0.66 EPS. NIKE’s revenue was down 1.6% on a year-over-year basis. Analysts forecast that NIKE, Inc. will post 3.1 EPS for the current year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd will be given a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.86%. The ex-dividend date is Tuesday, September 3rd. NIKE’s dividend payout ratio (DPR) is presently 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.