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

Carret Asset Management LLC lowered its stake in NIKE, Inc. (NYSE:NKE) by 33.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,120 shares of the footwear maker’s stock after selling 4,100 shares during the period. Carret Asset Management LLC’s holdings in NIKE were worth $763,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of NKE. Annapolis Financial Services LLC increased its holdings in shares of NIKE by 440.0% in the first quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock valued at $25,000 after buying an additional 220 shares in the last quarter. Iron Horse Wealth Management LLC raised its stake in NIKE by 120.7% during the 4th quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock valued at $28,000 after purchasing an additional 140 shares during the period. Planned Solutions Inc. acquired a new stake in NIKE during the 4th quarter valued at $29,000. True Wealth Design LLC raised its stake in NIKE by 106.4% during the 4th quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock valued at $32,000 after purchasing an additional 150 shares during the period. Finally, Frank Rimerman Advisors LLC acquired a new stake in NIKE during the 4th quarter valued at $33,000. Institutional investors own 64.25% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on NKE. StockNews.com downgraded shares of NIKE from a “buy” rating to a “hold” rating in a research note on Friday, June 21st. UBS Group reaffirmed a “neutral” rating and issued a $78.00 price target on shares of NIKE in a research note on Friday, June 28th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $88.00 price target (down from $117.00) on shares of NIKE in a research note on Friday, June 28th. Telsey Advisory Group dropped their price target on shares of NIKE from $115.00 to $100.00 and set an “outperform” rating on the stock in a research note on Friday, June 28th. Finally, Royal Bank of Canada decreased their price objective on shares of NIKE from $100.00 to $75.00 and set a “sector perform” rating for the company in a report on Tuesday. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $97.19.

NIKE Stock Down 1.0 %

Shares of NKE opened at $75.27 on Thursday. The company has a 50-day simple moving average of $92.58 and a 200-day simple moving average of $98.22. The firm has a market capitalization of $113.61 billion, a P/E ratio of 20.18, a P/E/G ratio of 1.85 and a beta of 1.01. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.69 and a current ratio of 2.40. NIKE, Inc. has a 52 week low of $74.29 and a 52 week high of $123.39.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 EPS 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 business had revenue of $12.60 billion during the quarter, compared to analyst estimates of $12.86 billion. During the same quarter in the prior year, the business earned $0.66 earnings per share. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. On average, equities research analysts expect that NIKE, Inc. will post 3.32 earnings per share for the current year.

NIKE Dividend Announcement

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

Insider Buying and Selling

In other NIKE news, Director Robert Holmes Swan purchased 2,941 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The stock was purchased at an average price of $77.02 per share, with a total value 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, EVP Monique S. Matheson sold 45,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $94.16, for a total transaction of $4,237,200.00. Following the completion of the sale, the executive vice president now owns 44,997 shares of the company’s stock, valued at $4,236,917.52. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Robert Holmes Swan acquired 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, with a total value of $226,515.82. Following the acquisition, the director now 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. Insiders sold 213,660 shares of company stock valued at $19,946,333 over the last quarter. Corporate insiders own 0.50% of the company’s stock.

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.