Alpha Cubed Investments LLC Has $544,000 Stock Holdings in NIKE, Inc. (NYSE:NKE)

Alpha Cubed Investments LLC lowered its stake in NIKE, Inc. (NYSE:NKE) by 9.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,155 shares of the footwear maker’s stock after selling 606 shares during the quarter. Alpha Cubed Investments LLC’s holdings in NIKE were worth $544,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. XML Financial LLC bought a new position in shares of NIKE in the 4th quarter valued at about $214,000. Bellevue Group AG acquired a new stake in NIKE in the 4th quarter valued at about $369,000. MGO One Seven LLC grew its holdings in NIKE by 4.8% during the fourth quarter. MGO One Seven LLC now owns 18,637 shares of the footwear maker’s stock worth $2,023,000 after purchasing an additional 857 shares during the period. Icon Wealth Advisors LLC acquired a new position in NIKE during the fourth quarter worth approximately $1,820,000. Finally, Ethic Inc. raised its stake in NIKE by 20.2% in the fourth quarter. Ethic Inc. now owns 110,921 shares of the footwear maker’s stock valued at $12,043,000 after buying an additional 18,645 shares during the period. Institutional investors own 64.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on NKE. Barclays reduced their target price on NIKE from $84.00 to $81.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 2nd. JPMorgan Chase & Co. reduced their price objective on shares of NIKE from $80.00 to $77.00 and set a “neutral” rating for the company in a research report on Wednesday, October 2nd. Williams Trading upgraded shares of NIKE from a “sell” rating to a “buy” rating and raised their target price for the stock from $67.00 to $93.00 in a research note on Friday, August 16th. Oppenheimer reiterated an “outperform” rating and issued a $120.00 price target on shares of NIKE in a research note on Friday, June 28th. Finally, HSBC cut their price objective on shares of NIKE from $100.00 to $90.00 and set a “hold” rating for the company in a research report on Friday, June 28th. Fifteen equities research 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 stock has an average rating of “Moderate Buy” and a consensus target price of $96.04.

NIKE Trading Down 0.1 %

Shares of NKE stock opened at $80.77 on Wednesday. NIKE, Inc. has a fifty-two week low of $70.75 and a fifty-two week high of $123.39. The stock’s fifty day moving average price is $81.05 and its two-hundred day moving average price is $85.91. 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 $121.91 billion, a PE ratio of 21.65, a P/E/G ratio of 2.30 and a beta of 1.02.

NIKE (NYSE:NKE) last released its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.18. The business had revenue of $11.59 billion for the quarter, compared to analyst estimates of $11.64 billion. NIKE had a return on equity of 42.63% and a net margin of 11.10%. NIKE’s revenue was down 10.4% compared to the same quarter last year. During the same period last year, the firm posted $0.94 earnings per share. Equities analysts predict that NIKE, Inc. will post 3.04 EPS for the current fiscal year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd were issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 1.83%. The ex-dividend date of this dividend was Tuesday, September 3rd. NIKE’s dividend payout ratio (DPR) is presently 39.68%.

Insider Buying and Selling

In related news, Chairman Mark G. Parker sold 52,487 shares of the firm’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 sale, the chairman now owns 1,031,226 shares of the company’s stock, valued at $80,435,628. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Chairman Mark G. Parker sold 52,487 shares of the firm’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 value of $4,093,986.00. Following the completion of the transaction, the chairman now owns 1,031,226 shares in the company, valued at $80,435,628. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Mark G. Parker sold 110,000 shares of the company’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 transaction, the chairman now owns 1,102,090 shares of the company’s stock, valued at approximately $80,419,507.30. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.50% of the stock is owned by corporate insiders.

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.