Anchor Investment Management LLC Lowers Stock Position in NIKE, Inc. (NYSE:NKE)

Anchor Investment Management LLC cut its stake in shares of NIKE, Inc. (NYSE:NKE) by 6.4% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,060 shares of the footwear maker’s stock after selling 140 shares during the period. Anchor Investment Management LLC’s holdings in NIKE were worth $155,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Cim LLC purchased a new stake in shares of NIKE during the 4th quarter valued at $14,275,000. TKG Advisors LLC acquired a new position in shares of NIKE during the 4th quarter valued at $1,012,000. Spartan Planning & Wealth Management acquired a new position in shares of NIKE during the 4th quarter valued at $182,000. Advisors Asset Management Inc. lifted its holdings in shares of NIKE by 86.0% during the 1st quarter. Advisors Asset Management Inc. now owns 20,957 shares of the footwear maker’s stock valued at $1,970,000 after acquiring an additional 9,689 shares in the last quarter. Finally, Enzi Wealth acquired a new position in shares of NIKE during the 4th quarter valued at $520,000. 64.25% of the stock is owned by hedge funds and other institutional investors.

NIKE Trading Up 0.2 %

NIKE stock opened at $82.26 on Friday. NIKE, Inc. has a 1 year low of $70.75 and a 1 year high of $123.39. The firm’s 50-day moving average is $80.90 and its 200-day moving average is $86.24. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.69 and a current ratio of 2.40. The company has a market cap of $124.15 billion, a P/E ratio of 22.05, a PEG ratio of 2.30 and a beta of 1.02.

NIKE (NYSE:NKE) last issued its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.18. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The firm had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $11.64 billion. During the same quarter last year, the company posted $0.94 earnings per share. NIKE’s revenue was down 10.4% on a year-over-year basis. On average, equities analysts expect that NIKE, Inc. will post 3.04 earnings per share for the current year.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.48 dividend on an annualized basis and a yield of 1.80%. NIKE’s dividend payout ratio is currently 39.68%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. 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. The Goldman Sachs Group reduced their target price on shares of NIKE from $118.00 to $105.00 and set a “buy” rating on the stock in a report on Friday, June 28th. KeyCorp restated a “sector weight” rating on shares of NIKE in a report on Friday, June 28th. HSBC reduced their target price on shares of NIKE from $100.00 to $90.00 and set a “hold” rating on the stock in a report on Friday, June 28th. Finally, Wedbush reduced their target price on shares of NIKE from $115.00 to $97.00 and set an “outperform” rating on the stock in a report on Friday, June 28th. Fifteen analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $96.04.

Insider Buying and Selling

In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the 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 directly owns 1,031,226 shares of the company’s stock, valued at $80,435,628. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the business’s stock in a transaction dated 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 directly owns 1,031,226 shares of the company’s stock, valued at $80,435,628. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Mark G. Parker sold 110,000 shares of the firm’s stock in a transaction that occurred 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 sale, the chairman now owns 1,102,090 shares in the company, valued at $80,419,507.30. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.50% of the stock is owned by company insiders.

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.