Axxcess Wealth Management LLC Sells 2,459 Shares of NIKE, Inc. (NYSE:NKE)

Axxcess Wealth Management LLC lessened its position in NIKE, Inc. (NYSE:NKE) by 28.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,192 shares of the footwear maker’s stock after selling 2,459 shares during the period. Axxcess Wealth Management LLC’s holdings in NIKE were worth $467,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. 9258 Wealth Management LLC boosted its stake in shares of NIKE by 23.9% during the 4th quarter. 9258 Wealth Management LLC now owns 4,366 shares of the footwear maker’s stock valued at $474,000 after purchasing an additional 842 shares in the last quarter. Gryphon Financial Partners LLC boosted its stake in shares of NIKE by 34.6% during the 4th quarter. Gryphon Financial Partners LLC now owns 11,598 shares of the footwear maker’s stock valued at $1,259,000 after purchasing an additional 2,981 shares in the last quarter. TrinityPoint Wealth LLC boosted its stake in shares of NIKE by 0.8% during the 4th quarter. TrinityPoint Wealth LLC now owns 21,561 shares of the footwear maker’s stock valued at $2,341,000 after purchasing an additional 166 shares in the last quarter. GW&K Investment Management LLC boosted its stake in shares of NIKE by 26.4% during the 4th quarter. GW&K Investment Management LLC now owns 604 shares of the footwear maker’s stock valued at $66,000 after purchasing an additional 126 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. boosted its stake in NIKE by 6.5% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 126,803 shares of the footwear maker’s stock worth $13,767,000 after acquiring an additional 7,769 shares in the last quarter. Institutional investors own 64.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on NKE shares. Citigroup dropped their price objective on shares of NIKE from $115.00 to $102.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. Oppenheimer reissued an “outperform” rating and set a $120.00 price objective on shares of NIKE in a research note on Friday, June 28th. StockNews.com lowered shares of NIKE from a “buy” rating to a “hold” rating in a research note on Friday, June 21st. Morgan Stanley reissued an “equal weight” rating and set a $79.00 price objective on shares of NIKE in a research note on Friday. Finally, Guggenheim dropped their price objective on shares of NIKE from $130.00 to $115.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. Fifteen analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, NIKE currently has a consensus rating of “Moderate Buy” and an average target price of $96.15.

Insider Buying and Selling at NIKE

In other NIKE news, Director Robert Holmes Swan bought 2,941 shares of NIKE stock in a transaction on Friday, June 28th. The stock was acquired at an average cost of $77.02 per share, with a total value 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other NIKE news, Director Robert Holmes Swan bought 2,941 shares of NIKE stock in a transaction on Friday, June 28th. The stock was acquired at an average cost of $77.02 per share, with a total value 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Mark G. Parker sold 52,487 shares of the company’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 sale, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at $80,435,628. The disclosure for this sale can be found here. 0.50% of the stock is owned by corporate insiders.

NIKE Stock Up 6.9 %

NKE opened at $86.55 on Friday. The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.55. The firm has a 50 day moving average price of $78.11 and a 200-day moving average price of $87.14. NIKE, Inc. has a twelve month low of $70.75 and a twelve month high of $123.39. The stock has a market capitalization of $130.64 billion, a price-to-earnings ratio of 23.20, a PEG ratio of 2.08 and a beta of 1.02.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 earnings per share 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 firm had revenue of $12.60 billion during the quarter, compared to analysts’ expectations of $12.86 billion. During the same period in the previous year, the company earned $0.66 earnings per share. The firm’s quarterly revenue was down 1.6% on a year-over-year basis. Equities research analysts forecast that NIKE, Inc. will post 3.06 earnings per share for the current year.

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd will be issued a dividend of $0.37 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.48 dividend on an annualized basis and a yield of 1.71%. NIKE’s dividend payout ratio is currently 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.