Lake Street Advisors Group LLC Sells 3,411 Shares of NIKE, Inc. (NYSE:NKE)

Lake Street Advisors Group LLC decreased its holdings in NIKE, Inc. (NYSE:NKE) by 29.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,326 shares of the footwear maker’s stock after selling 3,411 shares during the period. Lake Street Advisors Group LLC’s holdings in NIKE were worth $739,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Annapolis Financial Services LLC raised its stake in NIKE by 440.0% in the first quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock worth $25,000 after buying an additional 220 shares in the last quarter. Transcendent Capital Group LLC raised its stake in NIKE by 97.6% in the first quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker’s stock worth $38,000 after buying an additional 200 shares in the last quarter. VitalStone Financial LLC raised its stake in NIKE by 52.6% in the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock worth $38,000 after buying an additional 150 shares in the last quarter. Bruce G. Allen Investments LLC increased its position in shares of NIKE by 272.5% during the second quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock worth $39,000 after purchasing an additional 376 shares in the last quarter. Finally, Triad Wealth Partners LLC acquired a new position in shares of NIKE during the second quarter worth $44,000. Institutional investors own 64.25% of the company’s stock.

Insider Buying and Selling

In related news, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chairman now owns 1,031,226 shares in the company, valued at $80,435,628. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.10% of the company’s stock.

NIKE Trading Down 0.2 %

NKE stock opened at $78.85 on Friday. The company’s 50-day simple moving average is $82.79 and its 200-day simple moving average is $85.06. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a 52-week low of $70.75 and a 52-week high of $123.39. The firm has a market cap of $118.22 billion, a P/E ratio of 22.59, a PEG ratio of 1.95 and a beta of 1.02.

NIKE (NYSE:NKE) last posted its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.18. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The business had revenue of $11.59 billion for the quarter, compared to analyst estimates of $11.64 billion. During the same period in the prior year, the company posted $0.94 EPS. The company’s revenue for the quarter was down 10.4% on a year-over-year basis. As a group, equities analysts forecast that NIKE, Inc. will post 2.78 EPS for the current fiscal year.

NIKE Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd were given a dividend of $0.37 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $1.48 annualized dividend and a dividend yield of 1.88%. NIKE’s dividend payout ratio (DPR) is presently 42.41%.

Analyst Upgrades and Downgrades

NKE has been the topic of a number of recent analyst reports. Barclays reduced their price target on NIKE from $84.00 to $81.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 2nd. Telsey Advisory Group reduced their price target on NIKE from $100.00 to $96.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 2nd. Oppenheimer reaffirmed an “outperform” rating and set a $120.00 price target on shares of NIKE in a research report on Friday, June 28th. Raymond James reaffirmed a “market perform” rating on shares of NIKE in a research report on Friday, June 28th. Finally, Williams Trading raised NIKE from a “sell” rating to a “buy” rating and upped their target price for the company from $67.00 to $93.00 in a research report on Friday, August 16th. Fourteen research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $96.56.

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.