Financial Perspectives Inc Sells 253 Shares of NIKE, Inc. (NYSE:NKE)

Financial Perspectives Inc lessened its holdings in NIKE, Inc. (NYSE:NKE) by 28.7% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 629 shares of the footwear maker’s stock after selling 253 shares during the period. Financial Perspectives Inc’s holdings in NIKE were worth $59,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of NKE. Axxcess Wealth Management LLC raised its position in NIKE by 32.3% during the third quarter. Axxcess Wealth Management LLC now owns 9,133 shares of the footwear maker’s stock valued at $873,000 after purchasing an additional 2,229 shares during the period. Alps Advisors Inc. lifted its holdings in shares of NIKE by 114.5% in the 3rd quarter. Alps Advisors Inc. now owns 73,649 shares of the footwear maker’s stock valued at $7,042,000 after buying an additional 39,310 shares during the period. Legacy Advisors LLC raised its position in shares of NIKE by 14.7% in the third quarter. Legacy Advisors LLC now owns 48,523 shares of the footwear maker’s stock worth $4,656,000 after acquiring an additional 6,232 shares during the period. London Co. of Virginia raised its stake in NIKE by 10.0% in the 3rd quarter. London Co. of Virginia now owns 148,269 shares of the footwear maker’s stock valued at $14,177,000 after purchasing an additional 13,503 shares during the last quarter. Finally, Lake Street Advisors Group LLC boosted its stake in NIKE by 1.6% during the 3rd quarter. Lake Street Advisors Group LLC now owns 16,321 shares of the footwear maker’s stock worth $1,561,000 after purchasing an additional 264 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Sanford C. Bernstein lowered their price target on shares of NIKE from $134.00 to $120.00 and set an “outperform” rating on the stock in a research report on Friday, March 22nd. Stifel Nicolaus reissued a “hold” rating and set a $88.00 price target (down previously from $117.00) on shares of NIKE in a research report on Friday, June 28th. UBS Group reaffirmed a “neutral” rating and set a $78.00 price objective on shares of NIKE in a research report on Friday, June 28th. Oppenheimer reaffirmed an “outperform” rating and set a $120.00 price objective on shares of NIKE in a research report on Friday, June 28th. Finally, BMO Capital Markets decreased their target price on NIKE from $118.00 to $100.00 and set an “outperform” rating for the company in a research report on Friday, June 28th. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, NIKE presently has an average rating of “Hold” and a consensus target price of $97.19.

Insider Buying and Selling

In other NIKE news, VP Johanna Nielsen sold 282 shares of NIKE stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $93.64, for a total transaction of $26,406.48. Following the transaction, the vice president now directly owns 730 shares of the company’s stock, valued at approximately $68,357.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other NIKE news, VP Johanna Nielsen sold 282 shares of the business’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $93.64, for a total value of $26,406.48. Following the transaction, the vice president now owns 730 shares of the company’s stock, valued at $68,357.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Monique S. Matheson sold 45,000 shares of the company’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $94.16, for a total transaction of $4,237,200.00. Following the completion of the transaction, the executive vice president now owns 44,997 shares of the company’s stock, valued at $4,236,917.52. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 213,660 shares of company stock worth $19,946,333. 0.50% of the stock is owned by corporate insiders.

NIKE Trading Down 1.1 %

NKE traded down $0.80 during trading on Thursday, reaching $75.24. 15,952,008 shares of the stock traded hands, compared to its average volume of 17,969,314. The stock’s 50-day moving average is $92.19 and its 200 day moving average is $98.06. NIKE, Inc. has a 12 month low of $74.29 and a 12 month high of $123.39. The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $113.56 billion, a PE ratio of 20.17, a P/E/G ratio of 1.85 and a beta of 1.01.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $12.86 billion. During the same period last year, the firm earned $0.66 earnings per share. The business’s quarterly revenue was down 1.6% compared to the same quarter last year. Equities analysts anticipate that NIKE, Inc. will post 3.32 earnings per share for the current year.

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Monday, June 3rd were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $1.48 annualized dividend and a dividend yield of 1.97%. NIKE’s payout ratio is 39.68%.

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.