HCR Wealth Advisors Reduces Position in NIKE, Inc. (NYSE:NKE)

HCR Wealth Advisors lowered its position in NIKE, Inc. (NYSE:NKE) by 5.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,129 shares of the footwear maker’s stock after selling 454 shares during the quarter. HCR Wealth Advisors’ holdings in NIKE were worth $719,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Annapolis Financial Services LLC grew its holdings in shares of NIKE by 440.0% during 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 during the last quarter. Pineridge Advisors LLC acquired a new position in NIKE during the fourth quarter worth about $38,000. Scarborough Advisors LLC purchased a new position in NIKE in the fourth quarter valued at about $42,000. Transcendent Capital Group LLC lifted its position in shares of NIKE by 97.6% during the 1st quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker’s stock valued at $38,000 after acquiring an additional 200 shares during the period. Finally, Financial Synergies Wealth Advisors Inc. boosted its stake in shares of NIKE by 64.4% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 480 shares of the footwear maker’s stock worth $45,000 after acquiring an additional 188 shares in the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

NIKE Stock Up 0.1 %

NYSE:NKE traded up $0.05 during trading hours on Friday, hitting $82.15. The stock had a trading volume of 10,171,112 shares, compared to its average volume of 11,757,208. The company has a market cap of $123.99 billion, a PE ratio of 22.02, a price-to-earnings-growth ratio of 1.96 and a beta of 1.02. The business has a 50 day simple moving average of $81.66 and a two-hundred day simple moving average of $85.69. 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 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.18. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The firm had revenue of $11.59 billion for the quarter, compared to analyst estimates of $11.64 billion. During the same quarter in the previous year, the business posted $0.94 EPS. The firm’s revenue was down 10.4% compared to the same quarter last year. Analysts predict that NIKE, Inc. will post 2.8 EPS for the current year.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd were given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date was Tuesday, September 3rd. NIKE’s payout ratio is 39.68%.

Insider Activity

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. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the business’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 owns 1,102,090 shares in the company, valued at $80,419,507.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Mark G. Parker sold 52,487 shares of the firm’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 in the company, valued at approximately $80,435,628. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on NKE shares. Daiwa America cut NIKE from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Oppenheimer restated an “outperform” rating and set a $120.00 target price on shares of NIKE in a research report on Friday, June 28th. Jefferies Financial Group raised their price objective on shares of NIKE from $80.00 to $85.00 and gave the stock a “hold” rating in a research note on Monday, September 30th. Bank of America reduced their target price on NIKE from $104.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, October 2nd. Finally, Royal Bank of Canada reduced their price objective on NIKE from $85.00 to $82.00 and set a “sector perform” rating on the stock in a research report on Wednesday, October 2nd. Fourteen investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $96.56.

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.