Northwestern Mutual Wealth Management Co. Sells 153,545 Shares of NIKE, Inc. (NYSE:NKE)

Northwestern Mutual Wealth Management Co. trimmed its position in NIKE, Inc. (NYSE:NKE) by 30.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 348,934 shares of the footwear maker’s stock after selling 153,545 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in NIKE were worth $26,300,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of NKE. Nemes Rush Group LLC grew its position in NIKE by 2.1% in the second quarter. Nemes Rush Group LLC now owns 14,795 shares of the footwear maker’s stock valued at $1,115,000 after purchasing an additional 310 shares in the last quarter. Copperwynd Financial LLC grew its holdings in shares of NIKE by 30.9% in the 2nd quarter. Copperwynd Financial LLC now owns 8,687 shares of the footwear maker’s stock valued at $650,000 after acquiring an additional 2,053 shares in the last quarter. Creative Planning grew its stake in NIKE by 7.1% in the second quarter. Creative Planning now owns 547,242 shares of the footwear maker’s stock valued at $41,246,000 after purchasing an additional 36,290 shares in the last quarter. Aviso Wealth Management raised its stake in shares of NIKE by 55.6% during the 2nd quarter. Aviso Wealth Management now owns 5,108 shares of the footwear maker’s stock worth $385,000 after purchasing an additional 1,825 shares in the last quarter. Finally, Kathmere Capital Management LLC boosted its holdings in shares of NIKE by 60.5% in the 2nd quarter. Kathmere Capital Management LLC now owns 5,403 shares of the footwear maker’s stock valued at $407,000 after buying an additional 2,037 shares during the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the sale, the chairman now directly 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 Securities & Exchange Commission, which is accessible through the SEC website. In other news, Chairman Mark G. Parker sold 110,000 shares of the firm’s stock in a transaction on 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 owns 1,102,090 shares of the company’s stock, valued at $80,419,507.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Mark G. Parker sold 52,487 shares of the business’s stock in a transaction 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 sale, the chairman now directly owns 1,031,226 shares in the company, valued at approximately $80,435,628. The disclosure for this sale can be found here. Insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Morgan Stanley boosted their target price on shares of NIKE from $79.00 to $82.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 25th. BMO Capital Markets dropped 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. Daiwa America downgraded shares of NIKE from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Telsey Advisory Group reiterated an “outperform” rating and set a $100.00 target price on shares of NIKE in a research note on Friday, September 20th. Finally, The Goldman Sachs Group reduced their price target on NIKE from $118.00 to $105.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Fifteen equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, NIKE has a consensus rating of “Moderate Buy” and an average target price of $96.70.

NIKE Price Performance

Shares of NYSE:NKE opened at $88.37 on Tuesday. NIKE, Inc. has a one year low of $70.75 and a one year high of $123.39. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.40 and a quick ratio of 1.69. The company has a market cap of $133.37 billion, a price-to-earnings ratio of 23.69, a PEG ratio of 2.30 and a beta of 1.02. The firm has a 50 day simple moving average of $79.94 and a 200 day simple moving average of $86.49.

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 issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 1.67%. The ex-dividend date is Tuesday, September 3rd. NIKE’s dividend payout ratio (DPR) is 39.68%.

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.