Raymond James & Associates Sells 199,532 Shares of NIKE, Inc. (NYSE:NKE)

Raymond James & Associates lowered its holdings in shares of NIKE, Inc. (NYSE:NKE) by 12.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,400,239 shares of the footwear maker’s stock after selling 199,532 shares during the quarter. Raymond James & Associates owned approximately 0.09% of NIKE worth $105,536,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the business. ZWJ Investment Counsel Inc. raised its stake in shares of NIKE by 4.0% during the fourth quarter. ZWJ Investment Counsel Inc. now owns 2,599 shares of the footwear maker’s stock valued at $282,000 after purchasing an additional 100 shares during the period. Kornitzer Capital Management Inc. KS grew its position in shares of NIKE by 0.4% during the fourth quarter. Kornitzer Capital Management Inc. KS now owns 25,568 shares of the footwear maker’s stock worth $2,776,000 after acquiring an additional 100 shares during the last quarter. J.Safra Asset Management Corp raised its holdings in shares of NIKE by 12.9% during the fourth quarter. J.Safra Asset Management Corp now owns 883 shares of the footwear maker’s stock valued at $96,000 after buying an additional 101 shares during the last quarter. Beta Wealth Group Inc. boosted its position in NIKE by 2.3% during the 4th quarter. Beta Wealth Group Inc. now owns 4,501 shares of the footwear maker’s stock worth $489,000 after acquiring an additional 101 shares during the period. Finally, Kennon Green & Company LLC grew its position in NIKE by 1.6% in the 4th quarter. Kennon Green & Company LLC now owns 6,765 shares of the footwear maker’s stock valued at $734,000 after buying an additional 107 shares in the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at NIKE

In other news, Director Robert Holmes Swan purchased 2,941 shares of the company’s stock in a transaction dated Friday, June 28th. The shares were purchased at an average cost of $77.02 per share, for a total transaction of $226,515.82. Following the purchase, the director now directly owns 20,946 shares in the company, valued at approximately $1,613,260.92. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction that occurred on 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 sale, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at $80,435,628. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Robert Holmes Swan purchased 2,941 shares of the firm’s stock in a transaction on Friday, June 28th. The stock was acquired at an average price of $77.02 per share, for a total transaction of $226,515.82. Following the completion of the transaction, the director now directly owns 20,946 shares of the company’s stock, valued at approximately $1,613,260.92. The disclosure for this purchase can be found here. Company insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Telsey Advisory Group reduced their price objective on shares of NIKE from $115.00 to $100.00 and set an “outperform” rating for the company in a research note on Friday, June 28th. HSBC reduced their price target on shares of NIKE from $100.00 to $90.00 and set a “hold” rating for the company in a report on Friday, June 28th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $83.00 price target (down from $116.00) on shares of NIKE in a research report on Friday, June 28th. Bank of America cut their price objective on NIKE from $113.00 to $104.00 and set a “buy” rating for the company in a research report on Friday, June 28th. Finally, Robert W. Baird decreased their price target on shares of NIKE from $125.00 to $100.00 and set an “outperform” rating on the stock in a research note on Friday, June 28th. Fifteen investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $96.59.

NIKE Stock Up 0.9 %

NKE stock traded up $0.73 during midday trading on Friday, hitting $83.23. The company’s stock had a trading volume of 13,794,181 shares, compared to its average volume of 11,563,057. The company has a current ratio of 2.40, a quick ratio of 1.69 and a debt-to-equity ratio of 0.55. NIKE, Inc. has a 12 month low of $70.75 and a 12 month high of $123.39. The company has a market cap of $125.62 billion, a PE ratio of 22.31, a P/E/G ratio of 1.92 and a beta of 1.01. The firm’s 50-day moving average is $80.17 and its 200-day moving average is $90.84.

NIKE (NYSE:NKE) last posted its earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (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 for the quarter, compared to analysts’ expectations of $12.86 billion. During the same quarter in the prior year, the business earned $0.66 EPS. The business’s revenue for the quarter was down 1.6% compared to the same quarter last year. On average, equities research analysts forecast that NIKE, Inc. will post 3.12 earnings per share for the current fiscal year.

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd will be given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date is Tuesday, September 3rd. NIKE’s dividend payout ratio (DPR) is presently 39.68%.

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.