Plancorp LLC Decreases Stake in NIKE, Inc. $NKE

Plancorp LLC reduced its stake in NIKE, Inc. (NYSE:NKE) by 8.2% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,872 shares of the footwear maker’s stock after selling 706 shares during the quarter. Plancorp LLC’s holdings in NIKE were worth $559,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Caldwell Sutter Capital Inc. lifted its position in NIKE by 6.3% during the 2nd quarter. Caldwell Sutter Capital Inc. now owns 2,390 shares of the footwear maker’s stock worth $170,000 after acquiring an additional 142 shares during the period. Westmount Partners LLC lifted its position in NIKE by 2.9% during the 2nd quarter. Westmount Partners LLC now owns 5,165 shares of the footwear maker’s stock worth $367,000 after acquiring an additional 146 shares during the period. Matrix Trust Co lifted its position in NIKE by 53.1% during the 2nd quarter. Matrix Trust Co now owns 441 shares of the footwear maker’s stock worth $31,000 after acquiring an additional 153 shares during the period. RB Capital Management LLC lifted its position in NIKE by 0.4% during the 2nd quarter. RB Capital Management LLC now owns 46,327 shares of the footwear maker’s stock worth $3,291,000 after acquiring an additional 171 shares during the period. Finally, Breakwater Capital Group lifted its position in NIKE by 4.8% during the 2nd quarter. Breakwater Capital Group now owns 3,873 shares of the footwear maker’s stock worth $275,000 after acquiring an additional 177 shares during the period. 64.25% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other NIKE news, Chairman Mark G. Parker sold 86,078 shares of the business’s stock in a transaction that occurred on Thursday, August 14th. The stock was 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 directly owned 744,988 shares in the company, valued at approximately $56,566,938.84. The trade was a 10.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.80% of the company’s stock.

NIKE Stock Performance

NYSE NKE opened at $69.32 on Friday. The stock has a market capitalization of $102.38 billion, a price-to-earnings ratio of 32.09, a PEG ratio of 2.59 and a beta of 1.24. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $90.62. The company has a current ratio of 2.21, a quick ratio of 1.50 and a debt-to-equity ratio of 0.60. The stock has a 50-day moving average of $75.05 and a 200 day moving average of $67.38.

NIKE (NYSE:NKE) last released its quarterly earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share 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 return on equity of 23.33% and a net margin of 6.95%.NIKE’s quarterly revenue was down 11.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.99 EPS. Sell-side analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd will be issued a $0.40 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.3%. NIKE’s dividend payout ratio is presently 74.07%.

Analyst Upgrades and Downgrades

A number of analysts have commented on NKE shares. Argus raised NIKE to a “buy” rating in a research report on Sunday, July 6th. Royal Bank Of Canada raised NIKE from a “sector perform” rating to an “outperform” rating and lifted their price target for the stock from $76.00 to $90.00 in a research report on Thursday, September 18th. UBS Group set a $71.00 price objective on NIKE and gave the company a “neutral” rating in a report on Friday, September 19th. Morgan Stanley boosted their price objective on NIKE from $64.00 to $70.00 and gave the company an “equal weight” rating in a report on Tuesday. Finally, Hsbc Global Res raised NIKE from a “hold” rating to a “strong-buy” rating in a report on Friday, June 27th. Three analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $79.46.

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.