NIKE, Inc. (NYSE:NKE) Shares Sold by Griffin Asset Management Inc.

Griffin Asset Management Inc. lowered its stake in NIKE, Inc. (NYSE:NKE) by 40.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 21,054 shares of the footwear maker’s stock after selling 14,051 shares during the quarter. Griffin Asset Management Inc.’s holdings in NIKE were worth $1,979,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of NKE. Piscataqua Savings Bank grew its position in NIKE by 2.1% in the fourth quarter. Piscataqua Savings Bank now owns 4,861 shares of the footwear maker’s stock valued at $528,000 after acquiring an additional 100 shares in the last quarter. Physicians Financial Services Inc. increased its stake in NIKE by 0.6% during the 4th quarter. Physicians Financial Services Inc. now owns 16,077 shares of the footwear maker’s stock worth $1,745,000 after buying an additional 100 shares during the period. ZWJ Investment Counsel Inc. lifted its holdings in NIKE by 4.0% in the 4th quarter. ZWJ Investment Counsel Inc. now owns 2,599 shares of the footwear maker’s stock worth $282,000 after buying an additional 100 shares in the last quarter. Kornitzer Capital Management Inc. KS boosted its position in NIKE by 0.4% in the 4th quarter. Kornitzer Capital Management Inc. KS now owns 25,568 shares of the footwear maker’s stock valued at $2,776,000 after buying an additional 100 shares during the last quarter. Finally, Claro Advisors LLC boosted its position in NIKE by 0.8% in the 4th quarter. Claro Advisors LLC now owns 12,227 shares of the footwear maker’s stock valued at $1,327,000 after buying an additional 101 shares during the last quarter. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

NIKE Stock Performance

Shares of NKE traded down $18.82 during trading hours on Friday, reaching $75.37. 129,966,982 shares of the company’s stock traded hands, compared to its average volume of 9,446,953. The firm has a market capitalization of $113.76 billion, a price-to-earnings ratio of 20.21, a P/E/G ratio of 1.79 and a beta of 1.05. The business’s fifty day simple moving average is $93.28 and its two-hundred day simple moving average is $99.15. NIKE, Inc. has a twelve month low of $74.55 and a twelve month high of $123.39. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.74 and a quick ratio of 1.89.

NIKE (NYSE:NKE) last released its quarterly 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. The company had revenue of $12.60 billion for the quarter, compared to the consensus estimate of $12.86 billion. NIKE had a net margin of 11.10% and a return on equity of 42.87%. NIKE’s revenue was down 1.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.66 EPS. Analysts predict that NIKE, Inc. will post 3.9 earnings per share for the current year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be given a $0.37 dividend. The ex-dividend date is Monday, June 3rd. This represents a $1.48 dividend on an annualized basis and a yield of 1.96%. NIKE’s dividend payout ratio (DPR) is 39.68%.

Analysts Set New Price Targets

Several research firms recently commented on NKE. Stifel Nicolaus reiterated a “hold” rating and issued a $88.00 price target (down previously from $117.00) on shares of NIKE in a research note on Friday. The Goldman Sachs Group cut their target price on NIKE from $118.00 to $105.00 and set a “buy” rating on the stock in a research report on Friday. Sanford C. Bernstein decreased their price target on shares of NIKE from $134.00 to $120.00 and set an “outperform” rating for the company in a research report on Friday, March 22nd. Morgan Stanley reissued an “equal weight” rating and set a $79.00 price objective (down from $114.00) on shares of NIKE in a report on Friday. Finally, Telsey Advisory Group cut their target price on shares of NIKE from $115.00 to $100.00 and set an “outperform” rating on the stock in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $98.96.

Insider Buying and Selling at NIKE

In other NIKE news, EVP Monique S. Matheson sold 45,000 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $94.16, for a total value of $4,237,200.00. Following the completion of the sale, the executive vice president now directly owns 44,997 shares of the company’s stock, valued at approximately $4,236,917.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Chairman Mark G. Parker sold 168,378 shares of the company’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $93.14, for a total transaction of $15,682,726.92. Following the completion of the sale, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at $102,648,662.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Monique S. Matheson sold 45,000 shares of the business’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $94.16, for a total value of $4,237,200.00. Following the sale, the executive vice president now owns 44,997 shares in the company, valued at approximately $4,236,917.52. The disclosure for this sale can be found here. In the last ninety days, insiders sold 213,660 shares of company stock valued at $19,946,333. 0.50% of the stock is owned by corporate insiders.

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.