Middleton & Co. Inc. MA Lowers Stock Holdings in NIKE, Inc. (NYSE:NKE)

Middleton & Co. Inc. MA lessened its position in NIKE, Inc. (NYSE:NKE) by 7.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 16,344 shares of the footwear maker’s stock after selling 1,370 shares during the quarter. Middleton & Co. Inc. MA’s holdings in NIKE were worth $1,232,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in NIKE by 0.5% during the first quarter. Vanguard Group Inc. now owns 110,044,821 shares of the footwear maker’s stock worth $10,342,012,000 after purchasing an additional 501,792 shares during the period. Capital International Investors grew its holdings in shares of NIKE by 34.9% in the fourth quarter. Capital International Investors now owns 27,609,613 shares of the footwear maker’s stock valued at $2,997,628,000 after purchasing an additional 7,143,775 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in NIKE by 87.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 17,135,431 shares of the footwear maker’s stock worth $1,860,395,000 after buying an additional 7,996,434 shares during the period. Fisher Asset Management LLC lifted its holdings in NIKE by 2.2% during the 4th quarter. Fisher Asset Management LLC now owns 9,880,038 shares of the footwear maker’s stock worth $1,072,676,000 after buying an additional 211,360 shares in the last quarter. Finally, Jennison Associates LLC boosted its position in NIKE by 45.6% in the 1st quarter. Jennison Associates LLC now owns 8,859,580 shares of the footwear maker’s stock valued at $832,623,000 after buying an additional 2,775,510 shares during the period. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Insider Buying and Selling at NIKE

In other news, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $72.97, for a total value of $8,026,700.00. Following the sale, the chairman now owns 1,102,090 shares of the company’s stock, valued at $80,419,507.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Chairman Mark G. Parker sold 110,000 shares of the stock in a transaction dated 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 transaction, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at $80,419,507.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert Holmes Swan acquired 2,941 shares of the stock in a transaction on Friday, June 28th. The stock was acquired at an average cost of $77.02 per share, for a total transaction of $226,515.82. Following the acquisition, the director now directly owns 20,946 shares in the company, valued at approximately $1,613,260.92. The disclosure for this purchase can be found here. 0.50% of the stock is currently owned by corporate insiders.

NIKE Price Performance

Shares of NYSE:NKE opened at $80.94 on Thursday. NIKE, Inc. has a one year low of $70.75 and a one year high of $123.39. The stock has a market capitalization of $122.17 billion, a price-to-earnings ratio of 21.70, a PEG ratio of 2.08 and a beta of 1.02. The company has a 50-day simple moving average of $77.69 and a 200-day simple moving average of $87.28. 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 (NYSE:NKE) last posted its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, beating the consensus estimate of $0.85 by $0.16. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The firm had revenue of $12.60 billion during the quarter, compared to the consensus estimate of $12.86 billion. During the same period in the prior year, the business earned $0.66 EPS. The firm’s revenue was down 1.6% compared to the same quarter last year. On average, analysts predict that NIKE, Inc. will post 3.06 EPS for the current year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd will be given a $0.37 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $1.48 dividend on an annualized basis and a yield of 1.83%. NIKE’s dividend payout ratio (DPR) is 39.68%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Raymond James reaffirmed a “market perform” rating on shares of NIKE in a research report on Friday, June 28th. HSBC cut their price target on NIKE from $100.00 to $90.00 and set a “hold” rating on the stock in a report on Friday, June 28th. Stifel Nicolaus decreased their price objective on NIKE from $88.00 to $79.00 and set a “hold” rating for the company in a research note on Monday, August 26th. Robert W. Baird cut their target price 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. Finally, BMO Capital Markets reduced their target price on shares of NIKE from $118.00 to $100.00 and set an “outperform” rating on the stock in a report on Friday, June 28th. Fifteen equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $95.74.

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.