Profund Advisors LLC Sells 5,161 Shares of NIKE, Inc. (NYSE:NKE)

Profund Advisors LLC trimmed its position in NIKE, Inc. (NYSE:NKE) by 15.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,752 shares of the footwear maker’s stock after selling 5,161 shares during the period. Profund Advisors LLC’s holdings in NIKE were worth $2,092,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of NKE. Price T Rowe Associates Inc. MD boosted its holdings in NIKE by 87.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 17,135,431 shares of the footwear maker’s stock valued at $1,860,395,000 after purchasing an additional 7,996,434 shares during the period. Capital International Investors boosted its holdings in NIKE by 34.9% in the 4th 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 during the period. Longview Partners Guernsey LTD bought a new position in NIKE in the 1st quarter valued at $533,533,000. Capital World Investors boosted its holdings in NIKE by 612.2% in the 1st quarter. Capital World Investors now owns 5,185,432 shares of the footwear maker’s stock valued at $487,327,000 after purchasing an additional 4,457,376 shares during the period. Finally, Jennison Associates LLC boosted its holdings 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 purchasing an additional 2,775,510 shares during the period. 64.25% of the stock is owned by institutional investors.

NIKE Stock Up 6.8 %

NKE opened at $86.52 on Monday. NIKE, Inc. has a twelve month low of $70.75 and a twelve month high of $123.39. The stock has a market capitalization of $130.59 billion, a price-to-earnings ratio of 23.20, a PEG ratio of 2.08 and a beta of 1.02. 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 firm has a 50 day moving average price of $78.11 and a 200-day moving average price of $86.99.

NIKE (NYSE:NKE) last announced its earnings results 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 analysts’ expectations of $12.86 billion. During the same period in the prior year, the company earned $0.66 earnings per share. The firm’s revenue was down 1.6% on a year-over-year basis. Equities research analysts forecast that NIKE, Inc. will post 3.06 earnings per share for the current year.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd will be issued a dividend of $0.37 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $1.48 dividend on an annualized basis and a yield of 1.71%. NIKE’s dividend payout ratio is currently 39.68%.

Insider Buying and Selling at NIKE

In other NIKE news, Director Robert Holmes Swan bought 2,941 shares of NIKE stock in a transaction on Friday, June 28th. The stock was acquired at an average cost of $77.02 per share, with a total value of $226,515.82. Following the completion of the acquisition, the director now owns 20,946 shares in the company, valued at $1,613,260.92. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Robert Holmes Swan purchased 2,941 shares of the company’s 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 completion of the transaction, the director now directly owns 20,946 shares in the company, valued at approximately $1,613,260.92. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the completion of the transaction, the chairman now owns 1,031,226 shares of the company’s stock, valued at $80,435,628. The disclosure for this sale can be found here. 0.50% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

NKE has been the topic of several research reports. JPMorgan Chase & Co. restated a “neutral” rating and set a $83.00 price objective (down previously from $116.00) on shares of NIKE in a research report on Friday, June 28th. TD Cowen lowered their price objective on shares of NIKE from $75.00 to $71.00 and set a “hold” rating on the stock in a research report on Thursday, July 25th. Guggenheim lowered their price objective on shares of NIKE from $130.00 to $115.00 and set a “buy” rating on the stock in a research report on Friday, June 28th. KeyCorp restated a “sector weight” rating on shares of NIKE in a research report on Friday, June 28th. Finally, Daiwa America cut shares of NIKE from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Fifteen analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $96.15.

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.