NIKE, Inc. (NYSE:NKE) Shares Sold by Kayne Anderson Rudnick Investment Management LLC

Kayne Anderson Rudnick Investment Management LLC decreased its holdings in shares of NIKE, Inc. (NYSE:NKE) by 10.3% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 533,153 shares of the footwear maker’s stock after selling 61,003 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC’s holdings in NIKE were worth $40,184,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in NKE. Annapolis Financial Services LLC raised its stake in NIKE by 440.0% during the first quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock worth $25,000 after purchasing an additional 220 shares during the period. True Wealth Design LLC increased its holdings in shares of NIKE by 106.4% during the 4th quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock worth $32,000 after buying an additional 150 shares during the last quarter. Frank Rimerman Advisors LLC purchased a new position in shares of NIKE in the 4th quarter worth $33,000. Core Wealth Advisors Inc. boosted its holdings in NIKE by 408.5% in the fourth quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock valued at $33,000 after acquiring an additional 241 shares during the last quarter. Finally, Gold Investment Management Ltd. purchased a new stake in NIKE during the fourth quarter valued at about $36,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Insider Activity at NIKE

In other NIKE news, Director Robert Holmes Swan bought 2,941 shares of the business’s stock in a transaction on Friday, June 28th. The shares were purchased at an average price of $77.02 per share, with a total value of $226,515.82. Following the completion of the acquisition, the director now directly owns 20,946 shares of the company’s stock, valued at approximately $1,613,260.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Chairman Mark G. Parker sold 110,000 shares of the company’s stock in a transaction dated 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 in the company, valued at $80,419,507.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert Holmes Swan acquired 2,941 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The stock was purchased at an average price of $77.02 per share, for a total transaction of $226,515.82. Following the completion of the transaction, the director now owns 20,946 shares in the company, valued at $1,613,260.92. The disclosure for this purchase can be found here. Insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on NKE shares. StockNews.com lowered NIKE from a “buy” rating to a “hold” rating in a research note on Friday, June 21st. Robert W. Baird lifted their price target on shares of NIKE from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Friday. Wedbush dropped their price objective on shares of NIKE from $115.00 to $97.00 and set an “outperform” rating for the company in a research report on Friday, June 28th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $92.00 target price on shares of NIKE in a report on Friday. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $79.00 price target on shares of NIKE in a report on Friday. Fifteen analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $96.15.

NIKE Stock Up 6.8 %

NYSE:NKE opened at $86.52 on Friday. The stock has a 50-day simple moving average of $78.11 and a 200 day simple moving average of $87.06. NIKE, Inc. has a one year low of $70.75 and a one year high of $123.39. The company has a market capitalization of $130.59 billion, a price-to-earnings ratio of 23.20, a price-to-earnings-growth ratio of 2.08 and a beta of 1.02. 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. The business had revenue of $12.60 billion for the quarter, compared to analyst estimates of $12.86 billion. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The business’s revenue was down 1.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.66 EPS. Sell-side analysts predict that NIKE, Inc. will post 3.06 EPS for the current fiscal year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be given 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 1.71%. NIKE’s payout ratio is currently 39.68%.

NIKE 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.