EverSource Wealth Advisors LLC Sells 807 Shares of NIKE, Inc. (NYSE:NKE)

EverSource Wealth Advisors LLC reduced its holdings in NIKE, Inc. (NYSE:NKE) by 6.2% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,214 shares of the footwear maker’s stock after selling 807 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in NIKE were worth $914,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Annapolis Financial Services LLC increased its position 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 worth $25,000 after purchasing an additional 220 shares during the last quarter. True Wealth Design LLC increased its holdings in shares of NIKE by 106.4% in the 4th quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock worth $32,000 after buying an additional 150 shares during the last quarter. Core Wealth Advisors Inc. increased its holdings in shares of NIKE by 408.5% in the 4th quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock worth $33,000 after buying an additional 241 shares during the last quarter. Frank Rimerman Advisors LLC purchased a new stake in shares of NIKE during the 4th quarter valued at $33,000. Finally, Gold Investment Management Ltd. bought a new stake in shares of NIKE during the 4th quarter worth $36,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Insider Activity at NIKE

In other news, Director Robert Holmes Swan acquired 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 acquisition, the director now owns 20,946 shares in the company, valued at $1,613,260.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the firm’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 transaction, the chairman now owns 1,031,226 shares of the company’s stock, valued at $80,435,628. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert Holmes Swan bought 2,941 shares of the stock in a transaction dated Friday, June 28th. The shares were acquired at an average price of $77.02 per share, with a total value of $226,515.82. Following the completion of the acquisition, 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. 0.50% of the stock is currently owned by corporate insiders.

NIKE Stock Down 0.4 %

Shares of NIKE stock opened at $86.19 on Tuesday. 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 $130.08 billion, a P/E ratio of 23.11, a PEG ratio of 2.08 and a beta of 1.02. The company’s fifty day simple moving average is $78.40 and its two-hundred day simple moving average is $86.90.

NIKE (NYSE:NKE) last announced its quarterly 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 company had revenue of $12.60 billion for the quarter, compared to analysts’ expectations of $12.86 billion. During the same quarter in the previous year, the company earned $0.66 earnings per share. NIKE’s quarterly revenue was down 1.6% on a year-over-year basis. Research analysts anticipate that NIKE, Inc. will post 3.06 EPS for the current year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date is Tuesday, September 3rd. NIKE’s payout ratio is presently 39.68%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Sanford C. Bernstein lowered their price target on NIKE from $112.00 to $109.00 and set an “outperform” rating on the stock in a research report on Thursday, September 19th. StockNews.com cut NIKE from a “buy” rating to a “hold” rating in a report on Friday, June 21st. Williams Trading upgraded NIKE from a “sell” rating to a “buy” rating and boosted their target price for the stock from $67.00 to $93.00 in a research report on Friday, August 16th. HSBC reduced their price target on shares of NIKE from $100.00 to $90.00 and set a “hold” rating on the stock in a research report on Friday, June 28th. Finally, Raymond James restated a “market perform” rating on shares of NIKE in a report on Friday, June 28th. Fifteen investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $96.04.

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.