NIKE, Inc. (NYSE:NKE) Shares Sold by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. reduced its position in NIKE, Inc. (NYSE:NKE) by 1.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,248,811 shares of the footwear maker’s stock after selling 42,334 shares during the quarter. NIKE comprises about 1.3% of Brown Brothers Harriman & Co.’s investment portfolio, making the stock its 23rd biggest position. Brown Brothers Harriman & Co. owned 0.15% of NIKE worth $169,493,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Annapolis Financial Services LLC lifted its stake in shares of NIKE by 440.0% in the 1st quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock valued at $25,000 after purchasing an additional 220 shares in the last quarter. True Wealth Design LLC raised its holdings in 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. Frank Rimerman Advisors LLC acquired a new position in NIKE during the fourth quarter valued at approximately $33,000. Core Wealth Advisors Inc. grew its stake in NIKE by 408.5% during the fourth quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock worth $33,000 after buying an additional 241 shares during the period. Finally, Gold Investment Management Ltd. acquired a new stake in shares of NIKE in the fourth quarter worth $36,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Stock Performance

Shares of NKE opened at $79.01 on Monday. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.40 and a quick ratio of 1.69. NIKE, Inc. has a 12-month low of $70.75 and a 12-month high of $123.39. The business’s fifty day moving average price is $77.23 and its 200 day moving average price is $87.64. The stock has a market capitalization of $118.46 billion, a PE ratio of 21.18, a price-to-earnings-growth ratio of 2.08 and a beta of 1.02.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, beating 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 business had revenue of $12.60 billion during the quarter, compared to analyst estimates of $12.86 billion. During the same period in the previous year, the business posted $0.66 EPS. The company’s quarterly revenue was down 1.6% on a year-over-year basis. Equities research analysts forecast that NIKE, Inc. will post 3.06 EPS for the current year.

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 1.87%. The ex-dividend date is Tuesday, September 3rd. NIKE’s dividend payout ratio (DPR) is presently 39.68%.

Insider Transactions at NIKE

In related news, Chairman Mark G. Parker sold 110,000 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the completion of the transaction, the chairman now owns 1,102,090 shares in the company, valued at approximately $80,419,507.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Chairman Mark G. Parker sold 110,000 shares of the stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $72.97, for a total value of $8,026,700.00. Following the sale, the chairman now owns 1,102,090 shares of the company’s stock, valued at approximately $80,419,507.30. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the completion of the transaction, 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. Insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

NKE has been the topic of several recent research reports. StockNews.com lowered shares of NIKE from a “buy” rating to a “hold” rating in a report on Friday, June 21st. Wells Fargo & Company decreased their target price on NIKE from $115.00 to $92.00 and set an “overweight” rating for the company in a research report on Friday, June 28th. Guggenheim dropped their target price on NIKE from $130.00 to $115.00 and set a “buy” rating on the stock in a report on Friday, June 28th. Royal Bank of Canada decreased their price target on NIKE from $100.00 to $75.00 and set a “sector perform” rating for the company in a report on Tuesday, July 2nd. Finally, Williams Trading upgraded shares of NIKE from a “sell” rating to a “buy” rating and lifted their price objective for the company from $67.00 to $93.00 in a research note on Friday, August 16th. Fifteen equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $95.59.

About NIKE

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.