Stonehage Fleming Financial Services Holdings Ltd Decreases Stake in NIKE, Inc. $NKE

Stonehage Fleming Financial Services Holdings Ltd decreased its position in NIKE, Inc. (NYSE:NKE) by 79.6% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 551 shares of the footwear maker’s stock after selling 2,153 shares during the period. Stonehage Fleming Financial Services Holdings Ltd’s holdings in NIKE were worth $39,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Spire Wealth Management grew its position in shares of NIKE by 4.4% during the 1st quarter. Spire Wealth Management now owns 9,872 shares of the footwear maker’s stock valued at $627,000 after acquiring an additional 416 shares during the period. Bank Julius Baer & Co. Ltd Zurich grew its position in shares of NIKE by 0.6% during the 1st 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 acquiring an additional 5,601 shares during the period. Clal Insurance Enterprises Holdings Ltd bought a new position in shares of NIKE during the 1st quarter valued at approximately $25,963,000. BROOKFIELD Corp ON grew its position in shares of NIKE by 36.2% during the 1st quarter. BROOKFIELD Corp ON now owns 658,598 shares of the footwear maker’s stock valued at $41,808,000 after acquiring an additional 175,000 shares during the period. Finally, Cadence Bank grew its position in shares of NIKE by 10.0% during the 1st quarter. Cadence Bank now owns 83,002 shares of the footwear maker’s stock valued at $5,269,000 after acquiring an additional 7,574 shares during the period. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. Robert W. Baird increased their target price on shares of NIKE from $80.00 to $88.00 and gave the company an “outperform” rating in a research report on Friday, June 27th. DZ Bank raised shares of NIKE from a “hold” rating to a “buy” rating in a research report on Wednesday, October 1st. Jefferies Financial Group reaffirmed a “buy” rating and issued a $115.00 price objective on shares of NIKE in a report on Monday, September 29th. UBS Group set a $71.00 price objective on shares of NIKE and gave the stock a “neutral” rating in a report on Friday, September 19th. Finally, Weiss Ratings raised shares of NIKE from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $81.57.

NIKE Stock Performance

NIKE stock opened at $65.25 on Friday. The firm’s fifty day moving average price is $73.80 and its 200-day moving average price is $67.29. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.45 and a current ratio of 2.19. The stock has a market cap of $96.45 billion, a P/E ratio of 33.46, a price-to-earnings-growth ratio of 2.38 and a beta of 1.29. NIKE, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $84.76.

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

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date was Tuesday, September 2nd. NIKE’s dividend payout ratio (DPR) 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.