Savoie Capital LLC Sells 3,000 Shares of NIKE, Inc. (NYSE:NKE)

Savoie Capital LLC decreased its holdings in NIKE, Inc. (NYSE:NKE) by 34.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 5,625 shares of the footwear maker’s stock after selling 3,000 shares during the period. Savoie Capital LLC’s holdings in NIKE were worth $424,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Annapolis Financial Services LLC boosted its stake in shares of NIKE by 440.0% in the 1st quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock valued at $25,000 after purchasing an additional 220 shares in the last quarter. True Wealth Design LLC increased its holdings in shares of NIKE by 106.4% during the fourth quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock worth $32,000 after buying an additional 150 shares in the last quarter. Core Wealth Advisors Inc. increased its holdings in shares of NIKE by 408.5% during the fourth quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock worth $33,000 after buying an additional 241 shares in the last quarter. Frank Rimerman Advisors LLC acquired 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 NIKE during the 4th quarter worth $36,000. 64.25% of the stock is currently owned by institutional investors.

Insider Activity at NIKE

In related news, Director Robert Holmes Swan acquired 2,941 shares of the firm’s stock in a transaction on Friday, June 28th. The stock was 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 purchase was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Director Robert Holmes Swan bought 2,941 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The shares were bought 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 in the company, valued at $1,613,260.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total value of $4,093,986.00. Following the sale, the chairman now owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. The disclosure for this sale can be found here. 0.50% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Barclays increased their target price on NIKE from $80.00 to $84.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 18th. Daiwa America downgraded shares of NIKE from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Evercore ISI boosted their target price on shares of NIKE from $105.00 to $110.00 and gave the stock an “outperform” rating in a report on Friday. Wells Fargo & Company raised their price target on shares of NIKE from $86.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday. Finally, Sanford C. Bernstein reduced their price objective on shares of NIKE from $112.00 to $109.00 and set an “outperform” rating on the stock in a research note on Thursday, September 19th. Fifteen investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, NIKE currently has an average rating of “Moderate Buy” and a consensus price target of $96.04.

NIKE Trading Down 0.4 %

Shares of NIKE stock opened at $86.19 on Tuesday. The stock has a market capitalization of $130.08 billion, a PE ratio of 23.11, a price-to-earnings-growth ratio of 2.08 and a beta of 1.02. NIKE, Inc. has a 52 week low of $70.75 and a 52 week high of $123.39. The stock has a 50 day moving average price of $78.40 and a two-hundred day moving average price of $86.90. 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 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 during the quarter, compared to the consensus estimate of $12.86 billion. During the same quarter last year, the firm posted $0.66 EPS. NIKE’s revenue was down 1.6% compared to the same quarter last year. As a group, equities analysts anticipate that NIKE, Inc. will post 3.06 earnings per share for the current fiscal year.

NIKE Announces Dividend

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