Creative Planning Reduces Stock Position in NIKE, Inc. (NYSE:NKE)

Creative Planning lessened its holdings in shares of NIKE, Inc. (NYSE:NKE) by 9.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 493,020 shares of the footwear maker’s stock after selling 54,222 shares during the period. Creative Planning’s holdings in NIKE were worth $43,583,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Annapolis Financial Services LLC raised its stake in 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 buying an additional 220 shares in the last quarter. Transcendent Capital Group LLC raised its position in shares of NIKE by 97.6% in the 1st quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker’s stock worth $38,000 after acquiring an additional 200 shares in the last quarter. VitalStone Financial LLC lifted its stake in shares of NIKE by 52.6% in the 3rd quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock valued at $38,000 after purchasing an additional 150 shares during the period. Bruce G. Allen Investments LLC boosted its position in shares of NIKE by 272.5% during the second quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock valued at $39,000 after purchasing an additional 376 shares in the last quarter. Finally, Triad Wealth Partners LLC purchased a new stake in NIKE in the second quarter worth $44,000. 64.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on NKE. Barclays dropped their target price on shares of NIKE from $84.00 to $81.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 2nd. Evercore ISI dropped their price objective on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 2nd. TD Cowen raised their target price on shares of NIKE from $71.00 to $78.00 and gave the company a “hold” rating in a research note on Wednesday, October 2nd. Telsey Advisory Group dropped their price target on NIKE from $100.00 to $96.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 2nd. Finally, Raymond James reaffirmed a “market perform” rating on shares of NIKE in a research report on Friday, June 28th. Fourteen investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, NIKE currently has an average rating of “Moderate Buy” and a consensus price target of $96.56.

NIKE Stock Down 0.6 %

NKE opened at $82.92 on Friday. The firm’s 50 day simple moving average is $82.64 and its two-hundred day simple moving average is $85.28. The company has a market capitalization of $125.16 billion, a PE ratio of 22.23, a PEG ratio of 1.96 and a beta of 1.02. NIKE, Inc. has a 1-year low of $70.75 and a 1-year high of $123.39. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last announced its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.18. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The company had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $11.64 billion. During the same period last year, the firm earned $0.94 EPS. NIKE’s revenue for the quarter was down 10.4% compared to the same quarter last year. As a group, equities analysts forecast that NIKE, Inc. will post 2.8 EPS for the current year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd were paid a dividend of $0.37 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.78%. NIKE’s dividend payout ratio (DPR) is presently 39.68%.

Insider Buying and Selling

In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of NIKE 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 transaction, the chairman now owns 1,031,226 shares of the company’s stock, valued at $80,435,628. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.50% of the stock is currently owned by 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.