Mitchell Sinkler & Starr PA Sells 17,162 Shares of NIKE, Inc. $NKE

Mitchell Sinkler & Starr PA lessened its position in NIKE, Inc. (NYSE:NKE) by 49.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,726 shares of the footwear maker’s stock after selling 17,162 shares during the quarter. Mitchell Sinkler & Starr PA’s holdings in NIKE were worth $1,259,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of NKE. Caldwell Sutter Capital Inc. increased its holdings in shares of 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 purchasing an additional 142 shares during the period. Westmount Partners LLC increased its holdings in shares of 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 purchasing an additional 146 shares during the period. HB Wealth Management LLC increased its holdings in shares of NIKE by 0.3% during the 2nd quarter. HB Wealth Management LLC now owns 52,012 shares of the footwear maker’s stock worth $3,695,000 after purchasing an additional 147 shares during the period. Matrix Trust Co increased its stake in NIKE by 53.1% in the second quarter. Matrix Trust Co now owns 441 shares of the footwear maker’s stock valued at $31,000 after acquiring an additional 153 shares during the period. Finally, Summit Financial Strategies Inc. increased its stake in NIKE by 3.8% in the second quarter. Summit Financial Strategies Inc. now owns 4,270 shares of the footwear maker’s stock valued at $303,000 after acquiring an additional 155 shares during the period. Institutional investors own 64.25% of the company’s stock.

Insider Buying and Selling

In other news, EVP Treasure Heinle sold 4,300 shares of the company’s stock in a transaction that occurred on Monday, October 6th. The shares were sold at an average price of $71.27, for a total transaction of $306,461.00. Following the transaction, the executive vice president directly owned 29,396 shares in the company, valued at approximately $2,095,052.92. This represents a 12.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Mark G. Parker sold 110,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $72.29, for a total transaction of $7,951,900.00. Following the transaction, the chairman owned 842,361 shares in the company, valued at $60,894,276.69. The trade was a 11.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 200,378 shares of company stock worth $14,794,264 over the last quarter. 0.80% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

NKE has been the topic of a number of analyst reports. Jefferies Financial Group reissued a “buy” rating and issued a $115.00 target price on shares of NIKE in a research note on Monday, September 29th. Cowen raised shares of NIKE from a “hold” rating to a “buy” rating in a research note on Wednesday, September 10th. Royal Bank Of Canada reissued an “outperform” rating on shares of NIKE in a research note on Friday. HSBC raised shares of NIKE from a “hold” rating to a “buy” rating and set a $80.00 target price on the stock in a research note on Friday, June 27th. Finally, Telsey Advisory Group reissued a “market perform” rating and issued a $75.00 target price on shares of NIKE in a research note on Wednesday, October 1st. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, NIKE has a consensus rating of “Moderate Buy” and a consensus price target of $81.57.

NIKE Price Performance

NYSE:NKE opened at $65.25 on Friday. The firm has a market cap of $96.45 billion, a PE ratio of 33.46, a price-to-earnings-growth ratio of 2.38 and a beta of 1.29. NIKE, Inc. has a 12 month low of $52.28 and a 12 month high of $84.76. The company has a quick ratio of 1.45, a current ratio of 2.19 and a debt-to-equity ratio of 0.59. The company’s 50-day moving average price is $73.80 and its two-hundred day moving average price is $67.29.

NIKE (NYSE:NKE) last released its quarterly earnings results on Tuesday, September 30th. The footwear maker reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.22. The firm had revenue of $11.72 billion for the quarter, compared to analyst estimates of $10.96 billion. NIKE had a net margin of 6.23% and a return on equity of 21.16%. The company’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.70 earnings per share. On average, equities analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date was Tuesday, September 2nd. NIKE’s dividend payout ratio is presently 82.05%.

About NIKE

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.