Tounjian Advisory Partners LLC Has $2.07 Million Stake in NIKE, Inc. $NKE

Tounjian Advisory Partners LLC trimmed its stake in shares of NIKE, Inc. (NYSE:NKE) by 2.0% during the second quarter, Holdings Channel.com reports. The firm owned 29,188 shares of the footwear maker’s stock after selling 590 shares during the period. Tounjian Advisory Partners LLC’s holdings in NIKE were worth $2,074,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Spire Wealth Management lifted its holdings in NIKE by 4.4% in the first quarter. Spire Wealth Management now owns 9,872 shares of the footwear maker’s stock valued at $627,000 after buying an additional 416 shares during the period. Bank Julius Baer & Co. Ltd Zurich lifted its holdings in NIKE by 0.6% in the first quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,008,340 shares of the footwear maker’s stock valued at $69,932,000 after buying an additional 5,601 shares during the period. Mackenzie Financial Corp lifted its holdings in NIKE by 75.1% in the fourth quarter. Mackenzie Financial Corp now owns 539,650 shares of the footwear maker’s stock valued at $40,835,000 after buying an additional 231,417 shares during the period. Clal Insurance Enterprises Holdings Ltd bought a new stake in NIKE in the first quarter valued at approximately $25,963,000. Finally, Olstein Capital Management L.P. increased its stake in NIKE by 42.2% in the first quarter. Olstein Capital Management L.P. now owns 91,000 shares of the footwear maker’s stock valued at $5,777,000 after purchasing an additional 27,000 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Stock Performance

NYSE NKE opened at $72.72 on Wednesday. The firm has a 50-day moving average of $75.30 and a 200-day moving average of $67.63. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.50 and a current ratio of 2.21. The stock has a market cap of $107.40 billion, a PE ratio of 33.67, a P/E/G ratio of 2.65 and a beta of 1.24. NIKE, Inc. has a 52-week low of $52.28 and a 52-week high of $90.62.

NIKE (NYSE:NKE) last posted its earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.02. The company had revenue of $11.10 billion during the quarter, compared to analysts’ expectations of $10.69 billion. NIKE had a net margin of 6.95% and a return on equity of 23.33%. NIKE’s quarterly revenue was down 11.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.99 EPS. On average, sell-side analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Tuesday, September 2nd. NIKE’s dividend payout ratio (DPR) is currently 74.07%.

Wall Street Analysts Forecast Growth

NKE has been the subject of several recent analyst reports. Jefferies Financial Group reaffirmed a “buy” rating and issued a $115.00 target price on shares of NIKE in a research note on Friday, August 22nd. Robert W. Baird increased their price objective on shares of NIKE from $80.00 to $88.00 and gave the stock an “outperform” rating in a research report on Friday, June 27th. Morgan Stanley increased their price objective on shares of NIKE from $61.00 to $64.00 and gave the stock an “equal weight” rating in a research report on Friday, June 27th. Argus raised shares of NIKE to a “buy” rating in a research report on Sunday, July 6th. Finally, Evercore ISI lowered their price objective on shares of NIKE from $97.00 to $75.00 and set an “outperform” rating for the company in a research report on Tuesday, June 24th. Three analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $78.89.

Insider Activity

In other news, Chairman Mark G. Parker sold 86,078 shares of the firm’s stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $75.93, for a total transaction of $6,535,902.54. Following the completion of the sale, the chairman owned 744,988 shares in the company, valued at approximately $56,566,938.84. This trade represents a 10.36% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.80% of the company’s stock.

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.